Liberty Life prospectus for capital increase approved

The Cyprus Securities and Exchange Commission approved the Prospectus of Liberty Life Insurance Pcl (LIB) for the issue and listing of 22,301,001 ordinary shares of a nominal value of CYP 0.10 or EUR 017 each to the shareholders of Aspis Pronia Insurance Company (Cyprus) Ltd and Aspis Holdings Plc.

LIB will proceed to the issue of 24,166,132 ordinary shares of nominal value CYP 0.10 (EUR 017) each to the existing shareholders at the price of EUR 0.26 each. For every 1 LIB share issued shareholders will receive1 right, whereby for every 3 rights exercised at the price of CYP 0.15 (EUR 0.26), each shareholder will receive 1 ordinary share. The ex-rights day is on 2 October 2007, whilst the trading of the rights on the CSE will commence on 25 October 2007 until 14 November 2007. The exercise period of the rights will commence on 26 November 2007 until 30 November 2007, whilst the listing of the new shares is set on 21 December 2007.