NAM North American

 

TIDMNAM 
 
RNS Number : 6907J 
North American Banks Fund Ltd 
01 April 2010 
 

 
 
For immediate release on 1 April 2010 
 
                North American Banks Fund Limited (the "Company") 
 
                                Portfolio update 
 
 
Following a review of the Company's investment portfolio the Board has decided 
to make provisions against the value of three of its investments in light of 
recent performance and market outlook.  The provisions relate to NHB Holdings 
Inc ($2.0 million), Bank of Atlanta ($1.0 million) and Florida Capital Group 
($0.75 million).  In total, the provisions amount to $3.75 million and represent 
approximately 15.3 per cent. of the net asset value of the Company as at 28 
February 2010 which was announced on 15 March 2010. 
 
 
Enquiries: 
 
+------------------------------------+------------------------+ 
| BNP Paribas Fund Services          |                        | 
| (Guernsey) Limited                 |                        | 
+------------------------------------+------------------------+ 
| Jean McMillan/ Sara Bourne         | Tel: 01481 750858      | 
+------------------------------------+------------------------+ 
|                                    |                        | 
+------------------------------------+------------------------+ 
| Arbuthnot Securities Limited       |                        | 
+------------------------------------+------------------------+ 
| Alastair Moreton/Hannah Pearce     | Tel: 0207 012 2000     | 
|                                    |                        | 
+------------------------------------+------------------------+ 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 PFUBLGDSBBGBGGB 
 

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