BRITISH AMERICAN RESPONDS TO LOUIS VUITTON

Bridgetown, June 29, 2009 -- The much publicized financial difficulty experienced by our parent company CL Financial Limited, as reported in the press in January 2009, has in turn affected British American's (BA's) operations throughout the region.

The company faces financial challenges which have adversely affected many of our policyholders and has shaken public confidence in the company.

It should be noted that British American has been operating in the region successfully for more than 50 years. The Governments of the OECS in particular are in agreement that a potential failure of BA would be catastrophic for the economies of the region and are moving to provide much needed liquidity support and restore public confidence in the company.

This approach is consistent with government intervention to provide assistance to major financial institutions in developed countries like the US and the UK.

We understand that governments have allocated specific financial resources to address our liquidity issues and are currently working on a legal framework to structure the delivery of this assistance. BA's Board of Directors is working closely and purposefully with OECS officials to address these issues.

To see original item which was forwarded to Mr. King at British American's office in Barbados, click here.

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