MAURITIUS FREEPORT DEVELOPMENT COMPANY LTD

Freeport Zone 5, Mer Rouge

Port Louis

MAURITIUS

COMMUNIQUE

Subject to the approval of the shareholders at a forthcoming Special Meeting to be held on Friday 20^th January 2006, the Board of Directors of Mauritius Freeport Development Company Ltd have resolved to proceed with a Rights Issue of 30,000,000 new ordinary shares in the ratio of 1(one) share for every 2(two) shares held rounded to the lowest integer when fractions occur, for a consideration of Rs10/- each payable in three instalments.

Shareholders of Mauritius Freeport Development Company Ltd are advised to be cautious when dealing with their shares.

Dated this 14^th day of December 2005

By order of the Board

Interface Management Services Ltd

Corporate Secretary