Karrick Limited

November 12, 2007 09:43 ET

Karrick Limited Acquires Common Shares of Platmin Limited

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2007) - Karrick Limited ("Karrick"), announces that, on November 9, 2007, it acquired ownership of 9,577,951 common shares (the "Purchased Shares") of Platmin Limited ("Platmin") in its portfolio held with Credit Suisse. The Purchased Shares were acquired from CDC Group plc at a price of CDN$9.90 per common share and in accordance with the terms of a share purchase agreement dated November 9, 2007. The Purchased Shares represent approximately 9.9% of all issued and outstanding common shares of Platmin as at November 9, 2007. As a result of this transaction, Karrick held, as at November 9, 2007, an aggregate of 19,254,331 common shares of Platmin, which represents approximately 19.9% of all issued and outstanding common shares of Platmin as at November 9, 2007.

The Purchased Shares were acquired for investment purposes. Karrick may from time to time acquire additional common shares of Platmin, dispose of some or all of the existing or additional common shares Karrick holds or will hold, or may continue to hold its current position.

About Karrick

Karrick is a Guernsey-registered company and is wholly-owned by Karrick Trust established for various members of the Lakshmi Mittal family. Karrick, an investment company, is a long-term value and growth investor.

This news release may contain forward-looking statements. These forward-looking statements are subject to risks and uncertainties and other factors that may cause results to differ materially from expectations. These include risks relating to market fluctuations, investee performance and other risks. These forward-looking statements speak only as of the date hereof. Karrick disclaims any intent or obligation to update these forward-looking statements.

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