SGM Result

RNS Number:8971N
Worldsec Ld
23 July 2003


Worldsec Limited

Results of Special General Meeting Held on 23rd July 2003

Worldsec would like to announce that the following resolution was passed as an
ordinary resolution at the Company's Special General Meeting held today:-

Ordinary Resolution


    "a.     the nominal value of the authorised and issued shares of the Company
    be reduced from US$1.00 to US$0.001 and further that the issued share
    capital of the Company of US$13,367,290 be reduced by US$13,353,922.71 to
    US$13,367.29 divided into 13,367,290 shares of par value US$0.001 (with
    effect from 4.00 p.m., on 23rd July 2003);

 b. the amount of US$11,663,851 standing to the credit of the share premium
    account of the Company be reduced by US$11,663,851 to nil (with effect from
    4:00 p.m., being the closure of trading on 23rd July 2003);
 c. the Company shall apply the credit which will arise as a result of the said
    reductions noted in paragraphs (a) and (b) above as set out in the notice
    convening the Special General Meeting to the contributed surplus account in
    the books of account of the Company; and
 d. any one of the directors of the Company be and is hereby authorised generally
    to do all things appropriate to effect and implement any of the foregoing."




Distribution

The board of Directors of Worldsec have resolved to pay a distribution out of
the contributed surplus account of US$0.45 per ordinary share of par value
US$0.001 to shareholders whose names appear on the register of members at the
close of business in London on 1st August 2003 (record date) and that such
distribution will be payable on the 12th August 2003.

For further enquiries, please contact Paul Cheng at + 852 2867 7213.


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