This is to advise the South Pacific Stock Exchange that the Fiji Independent Commission Against Corruption (FICAC) has entered the FHL property this morning under a search warrant issued in accordance to their Legislation.

FICAC has acted on an allegation lodged with them. Whilst FHL has not been given a copy of the allegation, it appears that FICAC's focus is on our shareholding base.

FHL has elected at this time not to question the legality of FICAC's actions and has co-operated with the FICAC team to clear the allegations and to ensure that our employees are safeguarded. FHL is currently reserving all its legal rights.

We plead with our shareholders, subsidary companies, joint venture partners, investment companies and investors to remain calm and we reassure the public on the security of their investmnet with FHL.

End

29 June 2007