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Seprod Ltd.(SEP)- Increase in share capital

Jamaica Grain & Cereals Limited , a fully owned subsidiary of Seprod Limited, has by ordinary resolution of the company, increased its share capital by $19.4 million to $116.6 million by the addition of 9.7 million shares of two ($2.00) each.

Bonus shares amounting to 19.4 million units will be issued in proportion of one share for every five held as at May 30, 2003.