Announcement by The Board of Lascelles deMercado & Co Ltd

The Board of Directors of Lascelles deMercado & Co. Limited (LAS) has advised that Mr. Lawrence Duprey, Chairman of the Board of LAS, and Mr. Geoffrey Leid, Director of LAS, have resigned from the Board of Directors with immediate effect. It is anticipated, in light of the new Board appointments recently announced at CL Financial Limited, the ultimate majority stockholder in LAS, that there will be an announcement as to appointments to the LAS Board within the next ten days.