British American Investment Co. (Mtius) Ltd

(“BAI”)

FURTHER CAUTIONARY ANNOUNCEMENT

BAI wishes to inform its shareholders, the shareholders of Courts (Mauritius) Limited (“Courts”) and the general public that:

1. BAI has made a “demande circonstanciée” dated 28 November 2005 to the Stock Exchange of Mauritius (“SEM”) in accordance with Article RG/TVII/3.1 of the Règlement Général de la Bourse de Maurice, which led to the suspension in trading of the shares of Courts on 29 November 2005;

2. After discussions with BAI, the Stock Exchange Authorities have agreed on the conditions underlying the purchase by BAI on the SEM of 98,998,205 shares of Courts (representing a 84.6 % shareholding) at an agreed price of USD 24,212,202, from Courts (Overseas) Limited. All regulatory approvals have been obtained to date. The proposed transaction will be effected through the crossing board of the SEM on resumption of trading in the shares of Courts on 23 December 2005.

3. As communicated earlier, BAI will be required to comply with the provisions of Articles RG/TVII/3.4 and RG/TVII/3.5 of the Règlement Général de la Bourse de Maurice pertaining to the process of “maintien de cours”. In this connection, during the trading sessions from 23 December 2005 to 23 January 2006 inclusive, BA shall purchase on the SEM all shares of Courts that are offered for sale at the price of MUR 7.90 per share.

4. BAI has issued a Circular, dated 6 December 2005, to all its shareholders registered on 7 December 2005, containing all relevant details of the transaction. A summary of the circular has been inserted in the press on 10 December 2005 and 12 December 2005 pursuant to Listing Rule 13.15.

Accordingly, shareholders of BAI and the investing public are advised to exercise continued caution and to seek professional advice when dealing in the shares of BAI on the Stock Exchange.

By order of the board Registered Office

Swadeck Taher 25 Pope Hennessy Street

Company Secretary Port Louis

26 September 2006

This Cautionary Announcement is issued pursuant to Listing Rule 11.3

The board of directors of BAI accepts full responsibility for the accuracy of the information contained in the announcement.

Corporate Advisors to BAI

Infinite Corporate Finance Ltd