Fijian Holdings Limited announced an interim dividend of 10 cents per share totalling $1.046 million for its A-Class shareholders, based on the company’s financial performance for the six months ended 31st December 2003.

Making the announcement the company’s Managing Director, Mr Sitiveni Weleilakeba, said that the interim dividend was declared amidst strong underlying growth recorded by most of its operating subsidiaries.

According to Mr Weleilakeba the financial results for the 6 months to December 2003 exceeded budget expectations by 58.7% at profit before tax levels. The strong underlying performances was driven by growth in returns from most subsidiaries, particularly in the construction, food & beverage manufacturing and finance sectors.

Final profit results for the same period last year was higher, but were inflated by capital gains received from the sale of Carpenters Properties Limited shares. However current overall performance in comparison to previous years shows substantial growth in the underlying fundamentals. FHL’s current balance sheet and cashflow status, place FHL in a solid position for the remainder of the 2004 financial year.

Mr. Weleilakeba added that the performance of most subsidiaries was a reflection of the growth in the economy as a whole.

Interim dividend payout is in line with current corporate policy, based on 10 cents per share for “A” class share. This year’s interim dividend marks the increase in total dividend payout by the company since 1985 to $34.492 million. “This is a significant injection to the economy through the indigenous Fijians,” said Mr. Weleilakeba.

The company’s share register will be closed on Wednesday 21st April to determine shareholders entitlement in the distribution of interim dividend, in line with South Pacific Stock Exchange requirements. Dividend cheques will be ready for collection at the company’s office from Friday 30th April 2004.

Further Enquiries: Contact Jaoji Koroi (Company Secretary), phone: 3305 017