2006 Press Release

EDL SHAREHOLDERS FUNDS NOW N2.01 BILLION
Lagos Island, Lagos – January 26, 2006

Central Bank of Nigeria (CBN) has approved the additional Rights Issues of 9.03 million to raise the paid up capital of the company to 1.576 million. With this development, the Shareholders Funds of EDL has risen to N2.01 billion.

With this approval, EDL is positioned to undertake the role of Primary Dealer / Market Maker in FGN Bonds under the DMO initiative.

The success of the Rights Issue underscores the confidence the shareholders have in the company and this would translate to a stronger company with enhanced capacity for more business.