Market turmoil

We would like to assure our customers that Ancoria Insurance Public Ltd is very well capitalized and the Company's capital significantly exceeds the minimum requirements as set out by EU and Cyprus insurance legislation. Furthermore, the vast majority of the Company's investments comprise of fixed deposits in certain banks in the EU. These banks are well capitalized, have high levels of liquidity and are not exposed to the high risk investments that have caused serious financial problems to a number of other banks globally.

We continue to monitor the developments in the financial markets very closely, having in mind the best interests of our clients.

Best regards

Ancoria Insurance
Marios Miliotis CEO

01/10/2008