Logicom announces terms of rights issue

The Board of Directors of Logicom Pcl (LOG) at a meeting held on September 3, 2007decided the following with regard to the terms of the Rights and warrants issue:
The Company will issue 61,733,000 Rights which will be allocated to the shareholders in the ratio of 1 Right for every ordinary share. For every 10 exercised Rights and with the payment of CYP0.65 cents (EUR1.11059), 1 ordinary share and 1 warrant will be allocated.
The warrants that will be allocated will have a three-year duration and will be exercisable once a year from 2008. For every 1 exercised warrant, 1 ordinary share will be allocated. The exercise price of warrants has been determined at EUR2.00 (CYP1.17 cents) or 75% of the average closing price of the past 60 days prior to the date of announcement of the exercise price, whichever amount is the lowest.
The Rights and warrants will be listed in the CSE and will trade pursuant to the CSE Regulations.