LUCELEC TO IMPLEMENT A STOCK SPLIT IN RESPECT OF ITS ISSUED ORDINARY SHARES

Castries, August 30, 2011 – After obtaining the necessary authority from the Shareholders, and approvals of the Eastern Caribbean Securities Regulatory Commission (ECSRC) and the Eastern Caribbean Securities Exchange (ECSE), the St. Lucia Electricity Services Limited (Exchange Symbol SLES) will implement a Stock Split in respect of its issued Ordinary Shares.

Under this arrangement, holders of issued Ordinary shares will be issued 2 new shares in exchange for each share that they now hold. This will take effect from 1^st October, 2011.

The total percentage holding of each shareholder will not be affected, neither will any of the rights attaching to these shares (including dividends).

Shareholders will now own twice as many shares at a lower individual price for each share. The market price of each share prior to the Stock Split was EC$25 and trades on the ECSE immediately following the completion of the transaction are expected to reflect a new share price.

This was undertaken by the Company to accomplish several of its strategic undertakings and to address some shareholder issues. These include:

• Facilitating the Company’s intention to seek additional equity in 2012 that will partly finance its future generation expansion programme to  meet new demands for electricity, conform to the requirements of the Electricity Supply Act (as amended) as it relates to minimum generating capacity requirements and to replace decommissioned plant.

• Facilitating a greater level of trading in the Company’s equity on the Exchange
• Increasing the quantity of available shares to be traded
• Generally assisting in generating higher levels of activity on the Exchange

Shareholders will receive the appropriate correspondence and notification of the registration of their new shareholding from the Eastern Caribbean Central Securities Registry shortly.

Shareholders may also address enquiries to the Company at Telephone 457-4400 or by email to the Company Secretary at gfrench@lucelec.com.

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