Dividend Conversion rate

Prodesse Investment Limited
24 October 2006



24 October 2006

PRODESSE INVESTMENT LIMITED

Sterling Conversion Rate for Q3 2006 Dividend

The Company previously declared a dividend for the quarter ended 30 September
2006 of US$0.12 per share payable on 6 November 2006 to holders on the register
on 20 October 2006. For those shareholders who have elected to receive their
dividend in Sterling, the dividend will be 6.39 pence per share based upon an
exchange rate of 1.8774.

About Prodesse Investment Limited

Prodesse is a limited liability Guernsey-incorporated closed-end investment
company, the investments of which are managed by Fixed Income Discount Advisory
Company. The company's investment policy is to provide net income for
distribution from the spread between the interest income earned from a portfolio
of residential mortgage-backed securities and the cost of repurchase agreements
entered into to finance the acquisition of such residential mortgage-backed
securities.

Enquiries:
RBSI Fund Services (Guernsey) Limited:
Sara Radford / Paul Smith 01481 743000



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