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20.05.2003 Press Release

MALICIOUS PUBLICATIONS ABOUT DATABANK

By Databank
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Contact: Nana Asante Bediatuo Ampem Chambers Tel: 024-349797 We refer to recent disparaging publications in the print media, notably; The Ghanaian Chronicle, The Gye Nyame National Concord and The Crusading Guide newspapers, in connection with the Obotan project involving SSNIT, and Databank Financial Services Limited.

Copious references to a forensic audit and a purported Serious Fraud Office investigative report have been made and used as the basis for these malicious publications. In consequence of those publications, several media and social commentators on broadcast talk shows, (in particular, Good Morning Ghana on Metro TV) have also made equally scurrilous, malicious and unkind remarks about Databank and our two senior executives, Ken Ofori-Atta and Keli Gadzekpo.

We are aware of and are sympathetic to the public interest in matters involving SSNIT. However, we have not made any public comment in respect of the allegations made in the said publications because the institutions involved are engaged in deliberations relating to corporate matters regarding the project.

Nevertheless, it appears that our silence has caused and is contributing to anxiety among our numerous clients and the public. We therefore wish to take this opportunity to assure our valued clients and the public of the following: 1. Neither Databank, nor Ken Ofori-Atta nor Keli Gadzekpo has engaged in any illegal acts or deals in respect of the Obotan project or any other project for that matter;

2. Databank and its professionals have consistently adhered to, and will continue to promote, the highest ethical and professional standards.

We wish to assure the public that we are taking firm, decisive and ordered steps to address the wrong and negative perceptions created about us and to clarify details about the project. We shall with a “spirit of power” and undeterred determination, vigorously protect our rights.

Issued by the Directors & Management, Databank Financial Services Limited, Accra May 13, 2003

OBOTAN PROJECT

We refer to recent publications in the print and electronic media concerning Enterprise Insurance Company’s involvement in the Obotan Project with SSNIT.

We wish to assure our valued shareholders that there is no truth to the malicious allegations contained in such publications. We are currently in discussions with SSNIT to resolve corporate issues relating to the Obotan Project and hope for a speedy resolution to all outstanding issues.

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