Guardian Holdings Ltd. (GHL) – Rights Issue

The Board of Directors at its meeting on May 25, 2005 resolved to make a rights issue of one new ordinary share for every nineteen ordinary shares held, to shareholders on record at the close of business on June 23, 2005 at a price of TT$40.00 per share subject to obtaining all required regulatory approvals. Rights will only be traded on the Trinidad & Tobago Stock Exchange.