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GraceKennedy Ltd.(GK) – Sale of Shareholding in Carib Shipping Ltd.

Grace Kennedy advises that it has sold its 30% interest in Carib Star Shipping Ltd (12,000 shares) to Zim integrated Shipping Services Ltd. for a price of $5,636,500.00 based on the net asset value of Carib Star as at December 31, 2004.