ZOL.L Regulatory News (ZOL)

11 November 2010

Crosby ASSET MANAGEMENT Inc.

("CAM" or the "Company")

Trading Update - Nine Months to 30 September 2010

CAM is pleased to announce its trading figures, for the nine months ended 30 September 2010.

Summary Financials (for the nine months ended 30 September 2010)

·; Revenue: US$1.63 million (nine months ended 30 September 2009: US$2.74 million)

·; Loss Attributable to Shareholders: US$0.09 million (nine months ended 30 September 2009: US$9.74 million)

·; Loss Per Share (basic): US cents 0.03 (nine months ended 30 September 2009: UScents 4.00)

Commentary

These results reflect the Company's strategy to constrain costs and preserve cash.

As previously announced on 4 October 2010, CAM completed the disposal of all its operating businesses and, accordingly, became an investing company, as defined by the AIM Rules.

The Company's investing strategy will be to acquire holdings in natural resources, minerals, metals and/or oil & gas companies which the Directors believe are undervalued and where one or more such transactions have the potential to create value for the Company's shareholders.

The Company expects to be an active investor, but decisions as to whether to invest will be governed by the terms of each transaction. Under the investing strategy, there is no limit on the number of projects into which the Company may invest, and the Company will consider possible opportunities anywhere in the world, although the Company has a particular focus on Africa, South America, Australasia and central and Eastern Europe. 

For further information on CAM please contact:

Crosby Asset Management Inc.

Trevor Wells +44 (0) 20 3291 2863

Strand Hanson Limited

Stuart Faulkner / James Spinney +44 (0) 20 7409 3494

Trading Summary