Carreras – Restructuring

The Company has made a business decision to restructure its tobacco operations and in doing so intends to change the scope of its business operations to concentrate on its distribution and marketing in Jamaica. This will result in the out sourcing of the manufacturing of its cigarette brands to West Indian Tobacco Company (WITCO) in the Republic of Trinidad and Tobago. This restructuring exercise will be concluded by December 2005. Through a combination of early retirement and redundancy staff alignment will be achieved.