Jamaica Money Market Brokers Ltd (JMMB) – Acquisition

On June 30, 2004 JMMB Ltd entered into an agreement to acquire 50% of the shares of Intercommercial Bank Ltd and its wholly-owned subsidiary, Intercommercial Trust and Merchant Bank Ltd, based on the consolidated net book value of the entities as reflected in their audited financial statements at December 31, 2003. Both companies operate in Trinidad and are licensed by the Central Bank of Trinidad and Tobago. The acquisition is subject to the Central Bank’s approval.