THE LION FUND LIMITED ANNOUNCES CHANGES TO THE SHARE CAPITAL STRUCTURE

Date26-Apr-2007

THE LION FUND LIMITED (THE "FUND")

 

RE: Changes to the Share Capital Structure

 

The Directors the Fund wish to announce that, with immediate effect:

 

1. the Participating Shares of the Fund will be renamed the US Dollar Class Participating Shares;

 

2. the Fund has created and shall issue Euro Class Participating Shares (the "Euro Class Shares"), a separate Class of Participating Shares. Application has been made for the Euro Class Shares to be listed on the Official List of the Cayman Islands Stock Exchange and the Official List of the Irish Stock Exchange; and

 

3. the Fund has created and shall issue Class B Shares, a separate Class of US Dollar Participating Shares (the "Class B Shares"), to the Fund's investment manager, York Asset Management Limited, employees of York Group Limited and related parties. The Class B Shares will not be listed on the Official List of the Cayman Islands Stock Exchange or the Official List of the Irish Stock Exchange.

 

Enquiries:

NCB Stockbrokers Ms. Louise Scott

Phone: +353 1 611 5907

Queensgate Bank & Trust Company, Ltd. Mr. Blair Gauld

Phone: +1 345 945 2187