Courts – Sale of Assets

On April 21, 2005 shareholders were informed that financial advisers were appointed by the Administrators of Courts Plc to explore options including a possible disposal of the overseas subsidiaries of Courts Plc. The Administrators have now entered into discussions with a number of potential purchasers regarding the sale of the overseas assets of Courts Plc including Courts (Jamaica) Ltd. These discussions are at an early stage and the timetable and outcome are yet uncertain.