GlobalCapital plc - Interim Directors’ Statement

Friday, November 16th, 2012

On 15 November, GlobalCapital plc issued its Interim Directors’ Statement covering the four and a half months ended 15 November 2012. During this period, the Company has restructured some of its life insurance products and launched new products to enhance its overall product solutions and offerings in the market. Nonetheless, GlobalCapital reported that revenue growth remains a challenge and efforts are being made to further enhance revenues through distribution diversification.

Despite the prevailing challenges and uncertainties, revenue remained comparable to the same period last year whilst expense management has helped to improve operational results. The restructuring measures implemented by management are beginning to deliver progress in operating performance and the capital and cash flow positions of the Company remain within acceptable parameters.

Market volatility continues to affect the Company’s investment valuations but to date the effect has been neutral compared to the previous year.

In conclusion, the Directors stated that they are cautiously optimistic to sustain the improvement of results for the full calendar year subject to any unforeseen circumstances.

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