AAR CREDIT SERVICES SELL 36.5% EQUITY STAKE TO LOITA CAPITAL PARTNERS INTERNATIONAL - by AAR Credit, December 2000

THE NEW BUILDING SOCIETY - VOL.4 NO. 4 - BY THE PRIVATISATION COMMISSION OF MALAWI - 30th JUNE 2000

The Commission has completed the evaluation of bids received for the acquisition of 50.5% of the Society. Loita Capital Partners were adjudged the successful bidder. Loita have teamed up with Beverly Building Society (BBS) of Zimbabwe, who will be providing management expertise. BBS are the second largest building society in that country.

In terms of relevant legislation, the bid by Loita is subject to final approval of the Reserve Bank of Malawi as regulator of the financial services sector.