Carreras Ltd. (CAR)- Declares Dividend

At a Board Meeting held on May 20, 2008, the Directors of Carreras Limited declared

the following:

     a) an interim dividend of $2.00 per stock unit to be paid out of accumulated profits

     b) an interim special capital cash distribution of $8.30 per stock unit, being the

        amount net of transfer tax, to be paid out of proceeds received from the liquidation

        of a subsidiary.

The interim dividend and the interim special capital cash distribution will be paid on

June 30, 2008 to stockholders on record as at June 5, 2008. The x-date is June 3, 2008.