Carreras Limited (CAR) – Board Movements

At a Board Meeting of the Company held on June 7, 2005, the Board reluctantly accepted the resignation of Mr. Michael McNally as Group Finance Director and Company Secretary effective June 30, 2005 due to his retirement from the Group. Mr. Reynaldo Callejas was appointed as the Company’s Group Finance Director and Company Secretary effective July 1, 2005. Also Mr. Bruce Terrier was appointed as a Director of Carreras Group Ltd effective June 7, 2005.