Tumas Investments plc has announced the issue of 6.2% €20,000,000 Bonds, maturing between 2017 and 2020. The issue comes with an over-allotment option of an additional €5,000,000. The nominal value per Bond is €100 issued at par. The Bonds are unsecured but guaranteed by Spinola Development Company Limited.

Group Chairman George Fenech said the additional capital will primarily be utilised for the redemption of the Tumas Investments plc 6.7% Bond 2010-2012 on the 9th July 2010. The remaining proceeds of the Bond Issue will go towards the part re-financing of existing borrowings and the general corporate funding purposes of Spinola Development Company Limited and its subsidiary companies. Mr Fenech said that he is confident that the bond issue will be favourably received by investors particularly due to the on-going success of the Portomaso development, and the track record of Spinola Development Company Limited, the Guarantor.

Preference will be given to holders of Tumas Investments plc 6.7% Bond 2010 – 2012 who indicate their willingness to surrender their existing holding in favour of a holding in the new Bonds.

The Board announced that it will consider 4th June 2010 as the Cut-off Date and that the last day of trading to attain eligibility will therefore be 1st June 2010. Trading will cease thereafter and the Bond will be redeemed on the 9th July 2010. Bondholders on the register as at the Cut-off Date will be guaranteed full allotment of their applications for an amount equivalent to their existing holding, rounded up to the nearest €100 or €1,000, subject to a minimum application of €1,200.

Copies of the Prospectus and application forms will be available from 11th June 2010 from authorised intermediaries. An electronic version of the Prospectus will also be available online from www.tumas.com and www.rizzofarrugia.com.

Tumas Group’s original core operation was that of property development and recently real estate leasing. The Group’s activities have since been diversified with major inroads made particularly in the tourism and leisure sectors as well as the automotive and port management operations – areas where the Group enjoys tremendous success.

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