THE LION FUND LIMITED ANNOUNCES CHANGE IN FEE STRUCTURE

Date8-Dec-2006
Re: The Lion Fund Limited (the "Fund")

 

The Directors of the Lion Fund Limited (the “Fund”) wish to announce that with effect from 1 January 2007 the fees payable to the Administrator, Queensgate Bank & Trust Company Ltd., will decrease from 0.25% to an incremental fee as follows:

1st 100 million 20 basis points

2nd 100 million 15 basis points

3rd 100 million 13 basis points

4th 100 million 11 basis points

5th 100 million 9 basis points

Thereafter 7 basis points

 

of the Net Asset Value of the Fund calculated as at the end of each month.

 

Dennis Hunter

(Director)

The Lion Fund Limited