Predator Oil Regulatory News (PRD)

2 Apr 2008 10:37

Prodesse Investment Limited02 April 2008 2 April 2008 PRODESSE INVESTMENT LIMITED Net Asset Value The Company announces that the unaudited Net Asset Value per Ordinary share,including accrued and net undistributed income, as at 31 March 2008 was US$6.91. Assuming a USD/GBP exchange rate of 1.9866, which was the prevailing spot rateon 31 March 2008, the NAV per share would have been equivalent to 348p. Thisfigure is given for information only, as Prodesse holds its assets andliabilities, and reports its results in US Dollars. FIDAC, Investment Manager to Prodesse, commented on the Company's monthlymovement in NAV: "The past 30 days have been a tumultuous time for participantsin the global credit markets as they contend with asset sales from companies,funds, and lenders continuing to deleverage their balance sheets. AlthoughProdesse continues to invest solely in US Agency mortgage-backed securitiesissued and guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae, the prices ofthese securities have not been immune to the current market conditions. Despitethis unprecedented market turbulence, we believe the income fundamentals for thecompany will continue to improve, particularly with the aggressive positiveresponse from policymakers." Enquiries:BNP Paribas Fund Services (Guernsey) Limited:Sara Radford / Jean McMillan 01481 743004 This information is provided by RNS The company news service from the London Stock Exchange