Radio Jamaica Ltd. (RJR) – Rights Issue

A Board Meeting has been summoned to be held on November 3, 2004 for the purpose, inter alia, of considering a recommendation from Management that a Non-renounceable Rights Issue be made to the shareholders of the Company, subject to the shareholders voting to increase the share capital of the Company at the Annual General Meeting scheduled for November 10, 2004.

The precise terms of the Rights Issue such as the number of stock units to be offered to shareholders, the price and other details have not been finalized and if the proposal is accepted by the Board, the intention is that a sub-committee of the Board would be authorised to finalise those details acting in conjunction with, and upon the advise of the Company’s financial advisors.