RNS Number:8634Q
Langbar International Limited
06 September 2005


                         Langbar International Limited

                                 Market Update
                        Release of South American assets


Langbar International Limited (formally known as Crown Corporation Limited), the
AIM listed investment company, is now trading under the symbol LGB.L on the
London Stock Exchange. Share price and dealing details can also be viewed under
the same symbol in various national newspapers.

South American Assets

After protracted and detailed negotiations, the Board and its legal advisers in
Brazil, have successfully negotiated an agreed and managed exit of our cash
deposits in South America. This is in order to provide the Company with ready
access to these funds to invest in the developing Langbar operations.

Confirmation has been received that the cash deposits acquired from Crown
Pharmaceuticals Limited (US$294m) have been successfully transferred to a
Langbar International head office account of ABN Amro BV in Holland, and has
been admitted to the Euroclear and DTCC platforms (with the corresponding ISIN
and CUSIP numbers). The interest rate on these deposits has been agreed at 3.5%
p.a..

The transfer of these deposits into Europe was conditional on certain
undertakings in respect of potential Brazilian tax liabilities, in the event
that any may arise. Accordingly, in the interim statement, to be issued later
this month, the Company shall prudently be providing the sum of US$25m in
respect of undetermined tax liabilities. Having taken specialist taxation
advice, your Board is confident that this amount will be more than sufficient to
cover any potential liabilities in this respect.

As to the balance of the Langbar funds on deposit in Brazil (c$370m), agreement
has been reached with our bankers in Brazil to invest the remaining funds in
significant real estate assets in Europe.

The result of our recent negotiations will result in Langbar International
having no remaining assets or deposits in South America.

Investment Activities - Real Estate Strategy

Whilst the property market in the UK remains buoyant, and Langbar may well
invest in the future in the UK, the Board believe increasing shareholder value
can be better achieved at the present time by investing in European projects,
mainly in Portugal and Spain, which we intend to pursue with experienced joint
venture partners. These will be held in a new Langbar subsidiary, the European
Property Investment Company ('EPIC') which has been formed to acquire these
identified assets. The Company is in the process of conducting due diligence and
shall provide further details for shareholders in due course.

Investment Activities - UK Small and Mid-Cap Companies

Langbar Capital Limited, the investment and advisory business, will concentrate
almost wholly in the UK small and mid-cap market and has a number of interesting
investment situations under consideration. They mainly relate to early stage
investment, pre-IPO and IPO funding and the acquisition of undervalued assets
and businesses. In line with the stated strategy, the Company will generally
have a close working relationship with target investments and be in a position
to influence their individual business strategies through corporate finance
advisory contracts or board representation.

Investment in Zander Group Limited

The Company has acquired 100,000 ordinary shares in Zander Group Limited at 135p
per share. Langbar Capital already holds options on 500,000 shares in Zander,
exercisable at 75p. Stuart Pearson, the Chief Executive of Langbar
International, is a non-executive director of Zander which is intending to seek
admission to AIM within twelve months, subject to market conditions.

Zander is involved in the regeneration of desert and arid land and the clean up
of contaminated land. Further details are available on www.zandercorporation.com
The Board regards the prospects for Zander to be exciting and this investment
represents good value.


Because of the number and quality of opportunities being presented to the
Company at the present time, it is unlikely that capital will be returned to
shareholders.


Stuart Pearson, Chief Executive, Langbar International commented:

"Moving our cash assets to Europe is a major step in the turnaround of the
Company. Whilst we have investigated a number of interesting opportunities in
South America, after discussions with our shareholders, we appreciate that they
would prefer to see the business develop primarily in Europe.

"I reiterate the Board's commitment to growing the value of your Company, and in
the reduction of the wide discrepancy between our share price and our net asset
value. Our task in rebuilding Langbar has not always been helped by the spread
of rumour and false information, often taken out of context, which has been
disseminated through the 'internet chat rooms'. We fully appreciate our
obligations to keep the Stock Market aware of significant events affecting
Langbar through a regulated information service. I would urge all our investors
to rely on these official releases from Langbar, rather than chat room gossip.

"Identifying and securing attractive investment opportunities, whether smallcap
businesses or property assets, will take time and your new management team are
fully committed to developing the investment strategy for the long term benefit
of shareholders.

"In only three months the Board has made significant progress, we have achieved
our first objective of releasing the funds and we have identified a number of
exciting opportunities, both large and small. I expect to be in a position to
make further announcements regarding potential investments shortly."


                                                            6th September 2005
For further information, please contact:

Crown Corporation Limited                          Tel: 00 44 (0) 113 284 3838
Stuart Pearson, Chief Executive

Arden Partners Limited                             Tel: 00 44 (0) 20 7398 1632
Richard Day

Bankside Consultants                               Tel: 00 44 (0) 20 7367 8888
Michael Padley / Susan Scott


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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