Statement by HON. LASCELLES CHIN, OJ, CD. FOUNDER, CHAIRMAN & CEO, LASCO GROUP OF COMPANIES on plans to list on the Jamaica Stock Exchange

• Twenty-two years ago, I took the plunge to establish LASCO in Jamaica land we love, and I am so glad I made that decision at the time! There is nowhere I feel more comfortable and fulfilled in doing business than in this country of my birth. Jamaica and its people have been my source of inspiration to expand to other countries of the region and the world.

• Our company has had a phenomenal journey doing business in Jamaica! From an inconspicuous company packaging a few household items, the LASCO Group of Companies, which I founded, has blossomed into a multinational organization, which manufactures and distributes food, household, personal care and baby-care products on the international scene.

• In the last 2 decades and two years we have grown from a small operation on Red Hills Road in capital city Kingston, to a much more extensive outfit on Red Hills Road and major operations on 25 acres of land in White Marl St. Catherine.  We also rely on an island wide network of haulage contractors, merchandisers, and others in our efforts to ensure that LASCO products are widely available.

• LASCO has recently begun a restructuring process with the purpose of enhancing operational and other efficiencies across the LASCO entities.  The restructuring will create 3 main business activities within the group:  distribution, manufacturing and financial services.

• LASCO Distribution – is the Jamaican distributor of the LASCO family of products, which operates both a Consumer Division dealing with foods products, household and personal care items, and a Pharmaceutical Division that distributes the Company’s own LASMED line of relatively inexpensive generic products, as well as the products of internationally renowned pharmaceutical companies such as Astra Zeneca, Roche, Bayer Schering, and others

• LASCO Manufacturing – produces the famous LASCO soy based products, package milk, and exports LASCO goods to foreign markets since the 1990’s including the United States, Europe, the Caribbean and Central America.

• LASCO Financial Services – includes the businesses of LASCO Financial Services, provider of cambio, bill payment and other services, and LASCO Remittance Services, Jamaica’s fastest growing Moneygram remittance agency, as well as the group’s real properties.

• Today, I would like to announce a new, exciting chapter in the life of LASCO.

• It is our intention for LASCO to be listed on the JAMAICA STOCK EXCHANGE within two months.  We will be giving our loyal customers and Jamaicans from all walks of life a chance to own shares in LASCO.

• This will be a truly historic event that underlines LASCO’s confidence in Jamaica and the customers that have loyally supported us over the years.

• Our nurses, teachers, police, vendors, housewives can all become owners in LASCO. But, because of the heavy likely demand, we are expecting for the LASCO shares, we will be reserving a proportion of the shares for our Jamaican teachers, nurses and police.

• We will also be reserving shares for our staff, customers and retired professionals.

• LASCO’s financial adviser and lead broker for this historic proposed listing is MAYBERRY INVESTMENTS LIMITED.  More details on the LASCO public share offer will be announced at some Investor Briefings, which the company will be hosting over the coming weeks. The public will have a chance to get their queries on the LASCO share offer answered at those Investor Briefings.

• The public offer of LASCO will fast-track LASCO’s expansion of its local and export operations.

• This is your chance of becoming one of the owners of LASCO and as you can see, we will have a tremendous team working for you.

• Come join in LASCO’s successes! Our manufactured products are now being carried by such renowned international purveyors of food products as Tesco of the United Kingdom, ASDA (Walmart in the United Kingdom) and Walmart and Publix in the United States.

• We at LASCO have always made it our priority to provide high quality goods at affordable rates for Caribbean people and our consumers everywhere.

• Our products, especially our canned callaloo, jerk seasonings, hot pepper, soy protein Food Drink, Lasoy Lactose Free, canned juices and canned meats are a hit with Caribbean People in the Diaspora as well as non- Caribbean nationals.

• Despite the economic recession LASCO has been enjoying substantial growth in sales.

• The company is poised for expansion over the next few years and strategic plans are currently being drawn up and executed towards that aim.

• The United States is a major area of export growth for LASCO. Last year our export sales to the US grew at a phenomenal rate.

• Thousands of families rely on us for their nutritional support. Indeed we have become synonymous with nutrition, great taste and affordability.

• Whenever people compliment the LASCO Group of Companies on its achievements, I have to remind them that our highly skilled and innovative team is the reason for that remarkable success.

• We at LASCO intend to expand our reach even more in the hearts of Jamaicans and the people of the world. We intend to expand our footprints into the world of trade, commerce, manufacturing and financial services.

• We are therefore confident that this trend will continue and invite our fellow Jamaicans to participate and benefit from our growth!

• Thank you.

SPANISH COURT HOTEL, Wednesday, July 14, 2010