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Tembusu Investments Limited (NOVA)

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Thursday 10 July, 2008

Tembusu Investments Limited

Notice of AGM and Proposed Revision of the Comp...

                           Tembusu Investments Limited
                          (`Tembusu' or the `Company')

    Notice of AGM and Proposed Revision of the Company's Investment Strategy

10 July 2008

The 2008 annual general meeting of the members of the Company will be held at
120 Robinson Road, #13-02 Parakou Building, Singapore 068913 on 1 August 2008 at
4.00 p.m. (Singapore time) (the "AGM") to transact the business as stated in the
Company's notice of annual general meeting. At the AGM, the Company will seek
shareholder approval of, inter alia, a proposed revision to the Company's
investment strategy.

Proposed Revision to the Company's Investment Strategy

The Company's current investment strategy:

Tembusu Investments Limited, an exempted company incorporated in Bermuda, has been
established in order to identify and acquire quoted and unquoted financial services
businesses based in Asia (excluding Japan) to address the rapidly growing Far
Eastern markets for financial services. By actively investing in businesses with
complementary areas of expertise, the Directors believe that it is possible to
generate considerable opportunities for the cross selling of services between the
different operations and countries. The Directors also intend to consider minority
investments in such financial services businesses where it would be a passive
investor, but where those investments provide the opportunity for enhancing the
growth prospects of the Company.

The Company announced its first investment in the Shari'ah compliant bank,
European Islamic Investment Bank plc, ("EIIB") on 14 May 2008. The venture  was
consistent with the general approach adopted by the Company as outlined in their
investment strategy:  "…to identify and acquire quoted and unquoted financial
services businesses based in Asia (excluding Japan)…" "…and to consider minority
investments in such financial services businesses where it would be a passive
investor, but where those investments provide the opportunity for enhancing the
growth prospects of the Company". However, as  EIIB is registered in England and
Wales and the Board of the Company has already  identified further potential
investments that are not solely restricted to Asian based businesses, it is felt
that the investment strategy should be refined in order to more accurately
reflect the views of the Board at present.

The Company's investment strategy will continue to primarily focus on
identifying and acquiring quoted and unquoted financial services businesses
based in Asia. However the scope will be widened to include those that exist in
Japan as well as those in other areas where complementary businesses can be
identified. In addition, the Directors are prepared to consider investments in
certain non-financial services activities including real estate, where such an
investment is consistent with the Company's overall objectives and philosophy.

The Directors' expertise in evaluating the proposed additional business sectors,
geographical areas and variety of companies in which the Company should  invest,
is as follows:

Rafat A Rizvi

Mr. Rizvi is the founder and Managing Director of First Capital Limited which
manages the First Global Funds Protected Cell Company (PCC) family of funds.  He
is primarily responsible for investment origination and is jointly responsible
for  product development.

Prior to establishing First Capital Management Limited, Mr. Rizvi was the Head
of Middle East Operations for Kidder, Peabody & Co plc in London. He was then
appointed Managing Director of Paine Webber Asia Limited based out of Singapore
and ran the firm's non-Japan Asia businesses after it merged with  Kidder,
Peabody Inc. Prior to this, Mr. Rizvi was a senior executive in the Treasury
Division of Saudi American Bank, a subsidiary of Citibank in Riyadh.

Mr. Rizvi is also the CEO of Boston Holdings & Finance, a diversified
investment holding company through which he manages his personal investments and
is the largest shareholder of Vantage Corporation Limited, Singapore, as well as
a member of the AIM-listed Circle Oil plc.'s Board.

Yahya Mirza

Mr. Mirza has over twenty-five years of leadership experience in  the  finance
industry worldwide. He was the former Managing Director of Canadian Imperial
Bank of Commerce ('CIBC') Asia-Pacific and was a member of the Management
Committee and the Executive Board of CIBC World Markets.. Mr. Mirza's career
with CIBC included executive appointments in treasury, capital markets and
corporate banking divisions. From 1994 until early 2000, Mr. Mirza was based in
Singapore and was instrumental in CIBC's business  development in the Asia-
Pacific region during this period.

Mr. Mirza is a Fellow of the Institute of Chartered Accountants, England and
Wales, and has an M.Sc in Financial Economics from the University of Wales.

Jonathan Rowland

Jonathan Rowland was founder director and chief executive of Jellyworks plc from
its flotation on 21 December 1999 until it was purchased by Shore Capital Group
plc in August 2000. He spent the preceding 5 years as an executive of Rowland
Capital Limited. He has wide investment experience and over the last ten years
has focused on listed investments, private equity and assisting companies with
re-structuring and financial advice. His role has been to identify and evaluate
such investments. Mr. Rowland is also a non executive director of Blackfish
Capital Management Limited, a FSA registered investment manager.


It is proposed to shareholders that the following investment strategy be adopted
by the Company:

"The Company's focus will be to identify and acquire quoted and unquoted
financial services businesses based in Asia, though other geographical areas
will be considered should appropriate opportunities occur which could benefit
the Company. By actively investing in businesses with complementary areas of
expertise, which may for example include real estate, mortgage financing and
other such activities, the Directors believe that it is possible to generate
considerable opportunities for the cross selling of services between the
different operations and countries. The Directors also intend to continue to
make minority investments in such financial services businesses where it would
be a passive investor, but where those investments provide the opportunity for
enhancing the growth prospects of the Company."



For further information, contact:

Tembusu Investments Limited
Rafat Rizvi, Chairman and Chief Executive Officer      Tel:     + (65)6533 2233
Jonathan Rowland, Non-Executive Director               Tel: +44 (0)20 7087 7971
Mirza Yahya, Non-Executive Director                    Tel:     + 1 416 9640728

Blomfield Corporate Finance Limited                    Tel: +44 (0)20 7489 4500
Alan MacKenzie
Ben Jeynes                                                                                                                                                                      

a d v e r t i s e m e n t