Gasan Finance Company plc announced yesterday that they will be notifying bondholders of the 6.5 per cent 2006-2009 bond issue that these bonds will be redeemed on 21 July 2006. The nominal value of the bonds will be repaid together with interest covering the period 1 April 2006, the date following the last interest payment, to 21 July 2006, the redemption date.

Joseph A. Gasan, Chairman of Gasan Finance Company plc and of Gasan Group Ltd, said that these bonds, which were issued to the public in April 1999, could have been redeemed at any time between 30 April 2006 and 30 April 2009. He added that the board of directors, having considered a number of factors, decided to redeem now and not to replace these bonds by another public issue. The redemption will be financed partially from internal funds and from new financing arrangements.

Mr Gasan thanked the thousands of private and institutional investors who have shown support to the Gasan Group of Companies.