LASCO TO GIVE JAMAICANS A CHANCE TO OWN THE COMPANY

Shares In LASCO To Be Reserved For Police, Teachers, Nurses & Retired Professionals

Kingston, Jamaica- July 14, 2010:

Chairman/CEO of the LASCO Group of Companies Hon. Lascelles Chin today announced that LASCO would be giving Jamaicans a chance to be co-owners of the company. He says this new, exciting chapter in the LASCO’s history will unfold within two months, when the company seeks to be listed on the Jamaica Stock Exchange.

“It is our intention for LASCO to be listed on the Jamaica Stock Exchange within two months. We will be giving our loyal customers and Jamaicans from all walks of life a chance to own shares in LASCO,” disclosed Mr. Chin, while addressing this morning’s Media Breakfast hosted by LASCO at Spanish Court Hotel. He said because of the heavy likely demand, that LASCO is expecting for the shares, it will be reserving a proportion of the shares for Jamaican teachers, nurses and police. The company will also be reserving shares for its staff, customers and retired professionals.

Mr. Chin pointed out that LASCO is still fine-tuning plans for the public share offer, but confirmed that at least 20% of shares in the company will be made available to the public. The company intends to raise $450Million from the public share offer, fast-track LASCO’s expansion of its local and export operations. The LASCO CEO explained that the public listing is intended to give Jamaicans a stake in LASCO’s rapid expansion programme. He commented further on LASCO’s intention to be listed on the Jamaica Stock Exchange, “This will be a truly historic event that underlines LASCO’s confidence in Jamaica and the customers that have loyally supported us over the years.” Mr. Chin revealed that strategic plans are being implemented for the company’s expansion over the next few years.

LASCO’s financial adviser and lead broker for the historic proposed listing is Mayberry Investments Limited. More details on the LASCO public share offer will be announced at some Investor Briefings, to be hosted by the company over the coming weeks. The public will have a chance to get their queries on the LASCO share offer answered at those Investor Briefings.

Responding to questions from journalists at the Media Breakfast, Mayberry’s CEO Gary Peart, emphasized that LASCO and Mayberry are still holding consultations on the nature and processes, which will be involved, in the intended public listing of LASCO. Mr. Peart assured, “LASCO is all about value and it will offer significant value for shareholders.”

LASCO’s announcement of its share offer comes at a time when the company is experiencing significant growth in exports, especially in the United States, the Caribbean, UK and Central America. Despite the economic recession, last year LASCO’s export sales to the US grew at an average of 79 per cent and exports to the Florida area alone trended up by 200 per cent. The company’s manufactured products are now being carried by such renowned international purveyors of food products as Tesco of the United Kingdom, ASDA (Walmart in the United Kingdom) and Walmart and Publix in the United States.

The company’s exports, especially its canned callaloo, jerk seasonings, hot pepper, soy protein Food Drink, LaSoy Lactose Free, canned juices and canned meats are popular with Caribbean People in the Diaspora as well as non -Caribbean nationals.