DEBOURG CHARGED

St. George, May 16, 2008 -- Finton De Bourg, CEO of Capital Bank International Limited has formally been charged with three counts of fraudulent breach of trust.

The charges were read to Mr. De Bourg at around 3.00 o’clock on Friday afternoon at the St. Paul’s Police Station.

De Bourg is expected to make his first appearance before the St. George’s Magistrate’s Court on Monday, May 19th 2008, to answer the charges.

The Financial Intelligence Unit and the Royal Grenada Police Force carried out an operation at De Bourg's residence on Wednesday.

This development came against the background of several complaints being made to the Financial Intelligence Unit by depositors of Capital Bank.

A search warrant was executed, which permitted the police to enter his residence to conduct a search and seizure of items relevant to the investigation.

The operation led to the detention of Mr. De Bourg.

The Financial Intelligence Unit is continuing its investigations.