Subsidiary- investment update

10 Dec 2008 14:21

Ocean Wilsons Holdings Limited

Our principal operating subsidiary, Wilson Sons Limited announced to the Brazilian and Luxembourg Stock Exchanges the following announcement.

In accordance with CVM Instruction Number 358, effective as of January 03rd, 2002, Item 2, Subitem XIX, WILSON SONS LIMITED (Bovespa: "WSON11 BZ") announces to all of its shareholders that the IFC - International Finance Corporation has exercised the option to sell its share participation in Tecon Salvador S/A, a Company subsidiary.

The transaction has been completed on December 08, 2008, upon payment of R$12,490,870.32, for the transfer of 2,761,695 shares, the equivalent to 10% of Tecon Salvador S/A's total share capital.

As a result of this transaction, WILSON SONS LIMITED becomes the sole owner of 100% of Tecon Salvador S/A's total share capital, through its subsidiaries in Brazil.