Market Alert on Spring Bank and ETI

Market Alert on Spring Bank and ETI
February 21, 2007/Today at the Stock market: Market ANNOUNCEMENT The Nigerian Stock Exchange today placed Spring Bank Plc on full suspension pending the outcome of the post-merger adjustment of shares of Legacy Bank, the new addition to Spring Bank Plc. This implies that there will neither be movement in the share price nor trading on the stock until the full suspension is lifted. Also, today, the technical suspension on Ecobank Transnational Incorporation (ETI) was lifted following the conclusion of the capital restructuring. This implies that trading can now commence on the stock. Cost of TRANSACTION Effective 19th February, 2007, NSE fees on sell side transaction has been reviewed downward from 0.65% to 0.50% which brings the total transaction charge on sell side to 2.13%. Kindly find below the breakdown of the transaction charges: BUYING KEY NEW OLD @ 050107 OLD @ 2006 1 Stamp Duty 0.075% of Consideration 0.075% of Consideration 0.075% of Consideration 2 VAT on Broker\'s Commission 5% of Broker\'s Commission 5% of Broker\'s Commission 5% of Broker\'s Commission (or 0.05% of Consideration) (or 0.1375% of Consideration) (or 0.1375% of Consideration) 3 SEC Fee 1% of Consideration 1% of Consideration 1% of Consideration 4 CSCS Fee 0.1% of Consideration 0.1% of Consideration 0.1% of Consideration 5 VAT ON CSCS 5% of CSCS fee 5% of CSCS fee N/A (or 0.005% of consideration) (or 0.005% of consideration) 6 Brokeage Fee 1% of Consideration 1% of Consideration 1% of Consideration TOTAL 2.230% 2.318% 2.313% SELLING KEY NEW OLD @ 050107 OLD @ 2006 1 Stamp Duty 0.075% of Consideration 0.075% of Consideration 0.075% of Consideration 2 VAT on Broker\'s Commission 5% of Broker\'s Commission 5% of Broker\'s Commission 5% of Broker\'s Commission (or 0.05% of Consideration) (or 0.1375% of Consideration) (or 0.1375% of Consideration) 3 CSCS Fee 0.45% of Consideration 0.45% of Consideration 0.45% of Consideration 4 VAT ON CSCS 5% of CSCS fee 5% of CSCS fee N/A (or 0.0225% of consideration) (or 0.0225% of consideration) 5 NSE Fee 0.50% of Consideration 0.65% of Consideration 0.65% of Consideration 6 VAT on NSE Fee 5% of NSE fee 5% of NSE fee N/A (or 0.0325% of consideration) (or 0.0325% of consideration) 7 Brokeage Fee 1% of Consideration 1% of Consideration 1% of Consideration TOTAL 2.130% 2.368% 2.313%

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