Company Announcements – January 2007

HSBC Bank Malta plc — Bond Issue

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HSBC announced that it published a prospectus dated 10th January 2007 in respect of an issue of Lm20,000,000 4.6% Bonds or Eur46,600,000 4.6% Bonds of a nominal value of Lm100/Eur100 per Bond issued at par subject to an Over-allotment Option not exceeding in aggregate Lm5,000,000 or Eur11,700,000 in value in any one or a combination of the Bonds. Please contact our offices on freephone number 80072206 for further details.

International Hotel Investments plc

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The following resolutions will be presented for consideration at an Extraordinary General Meeting of IHI plc (“the Company”) to be held on 31st January 2007:

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1.   To increase the Authorised Share Capital of the Company and to re-designate the Authorised Share Capital into two classes.

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2.   To authorise the increase in the Issued Share Capital of the Company by the allocation of new shares and to authorise the Directors to issue and allot new shares without first offering same to the existing shareholders in proportion to their current holdings.

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3.   To capitalise an amount not exceeding Eur5,000,000 from revaluation reserves (“Capitalisation”) and issue such number of fully paid up Bonus Shares of a nominal value of Eur1 each equivalent to the amount of the Capitalisation. The Bonus Shares will be issued and allotted in a ratio of 1 Bonus Share for every 6 ordinary shares.

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4.   To effect amendments to the Memorandum and Articles of Association of the Company.

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5.   To increase the amount of fees and remuneration to the Directors of the Company.

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Please click on the above heading to view the detailed official announcement.

Middlesea Insurance plc

Middlesea Insurance plc has subscribed for its 89.98% of the issued share capital equivalent to EUR3,599,200 consisting of shares of a nominal value of EUR0.01 each fully paid up from an issue of EUR4,000,000 of nominal value in Progress Assicurazioni SpA. These shares were allotted on 29th December 2006 to existing shareholders on a pro-rata basis. The Company has thus retained its shareholding in this unlisted Italian Company at the 89.98% level previously held. The Company also announced that as from 1st January 2007 Mr Frank Xerri de Caro ceased to be a director of Middlesea Insurance plc.