December 2003

LIQUIDATORS OF FIRST CAYMAN BANK PAY DIVIDEND

The Liquidators of First Cayman Bank Ltd. ("FCB") are pleased to advise that a third interim dividend in the amount of 15 cents on the dollar was declared and paid on November 21, 2003 to all admitted creditors in the liquidation, involving a distribution of approximately US$4.4 million. This brings the total cumulative return to ordinary admitted creditors of FCB to 60 cents on the dollar.

Two interim dividend payments have previously been made: the first interim dividend (35 cents) was paid on April 20, 2000 and the second (10 cents) on June 14, 2002.

The Liquidators currently estimate that the final return to creditors will be in the range of 60 to 70 cents on the dollar, compared to the previous estimate of 50 to 60 cents. Additional funds should become available for another dividend payment at some point in the future, but the precise amount and timing of such a payment is not known at this time.

Michael Pilling
Joint Official Liquidator