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Victoria Mutual Group participates in Government of Jamaica National Debt Exchange (NDX)

February 22, 2013

The Board of Directors of Victoria Mutual has approved the institution's full participation in the Government of Jamaica's National Debt Exchange Offer ("NDX"), which was concluded on Thursday, February 21, 2013.  Participation extended to all the business units in the Victoria Mutual Group including The Victoria Mutual Building Society and Victoria Mutual Wealth Management Limited.

On completion of a detailed review of the NDX, the Board of Directors determined that full participation was important to the success of the Government of Jamaica's medium term economic programme and would therefore be in the best interest of the Members and customers of the Victoria Mutual Group.  Whereas the NDX is expected to have a negative effect on the Group's revenues and surplus, it will not materially affect the financial position of the Group and its key capital ratios will remain above regulatory requirements.
 
The Victoria Mutual Group remains fully committed to helping our Members and customers achieve financial independence and to the development of Jamaica.

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