Lascelles, de Mercado and Company Ltd.(LAS) – Dividend Declared

At a meeting of the Board of Directors on March 6, 2002 it was decided to pay a dividend of two cents per ordinary stock unit on April 2, 2002 to shareholders on record at the close of business on March 19, 2002. The dividend being declared payable is out of accumulated franked income. No Board meeting is necessary to authorise payments of dividend on the Lascelles, de Mercado & Co. Ltd. 6% Cumulative Preference stock units of a par value of $20 each and 15% Cumulative Preference stock units of a par value of $20 each to the shareholders, since the authority for payment stems from Board Resolutions of June 8, 1951 and March 5, 1986 respectively.