Update re Proposed Disposal

26 July 2010

Crosby Asset Management Inc.

("CAM" or the "Company")

Update re Proposed Disposal of Operating Businesses

Further to the announcement, issued by the Company on 19 July 2010, regarding the proposed disposal of the Company's operating businesses to Crosby Capital Limited ("CCL") (the "Disposal"), CAM is pleased to confirm that the CCL circular has today been posted to CCL shareholders and is available at the following link:

http://www.crosby.com/article.web.ViewArticles.do?localeId=en&articleTypeId=-1&cmsTreeNodeId=125.

**ENDS**

Enquiries:

Crosby Asset Management Inc.

Ilyas Khan +44 (0) 20 3291 2863

Strand Hanson Limited

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