2006 Press Release

EDL SETS UP EXPRESS DISCOUNT LIMITED ASSET MANAGEMENT LIMITED (EDAML)
Lagos Island, Lagos – January 6, 2006

The Central Bank of Nigeria (CBN) has granted the approval for Express Discount Limited (EDL) to set up Express Asset Management Limited (EDAML). This is a fully owned subsidiary with an initial share capital of 170 million

EDAML has been incorporated to engage in the business of Portfolio / Funds Management, Stock Broking and Investment Advisory Services. The company is geared to handling large scale transactions on behalf of clients and offer investment advice to individuals and corporate clientele in both money and capital market.

The services provided will be guided by a research and advisory approach, which seeks to understand client portfolio needs to match long and short term objectives of income, growth and asset structuring.

EDAML will provide professional, innovative and efficient services to each of its clients on a totally confidential basis.

The company is managed by a team of experienced professionals in Investment Banking, Corporate Finance, Financial and Management Consulting, Accounting, Taxation and Portfolio Management.

Contact can be made with the new company through email at edma@expdisc.com