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Further to our communiqué issued on 21 May 2008 to the effect that Compagnie
d'Investissement et de Développement Limitée(CIDL) has been authorised by the Board
of Directors of the Mauritius Union Assurance Co Ltd (the Company) to acquire directly
and/or indirectly 30 per cent of the issued capital of the Company, we hereby advise that
the Financial Services Commission has notified the Company that the application made
by CIDL to acquire directly and or indirectly 30% of the issued capital of the Company
has not been approved.