Imagine a Fund that provides attractive long-term returns and supports the development of private enterprise in Ghana

The Gold Fund ("The Fund") is a Unit Trust scheme that has been designed to achieve long-term capital appreciation by investing in both listed (on the Ghana Stock Exchange) and unlisted equity securities of Ghanaian companies.

The Gold Fund is an enterprise development Fund. The Fund aims:

• to provide the long-term capital needed to fuel the private sector engine in Ghana to help make the Golden Age of Business possible.

• to meet the needs of small to medium scale enterprises in the growth areas of agro-processing; information, communications technology; and tourism.

• to provide a safe, secure investment opportunity to meet long-term needs such as retirement.

• to provide very attractive returns. Gold Coast Securities' investment fund for international clients on a test basis has yielded over 300% increase in value in US dollar terms during the nine-year period.

• to provide an opportunity for Ghanaians abroad to support growth and prosperity in the country while achieving attractive long-term returns on their investment.

• to provide tax free investment. Unit trusts are exempted from tax by law.

THE GOLD FUND consists of an unlimited number of units of beneficial interest. The Fund plans to raise a minimum of ten billion Cedis through the offer of 20,000,000 Units at a cost of ¢500 per unit during the first three months (March 29 th to June 25 th 2004). The minimum number of units that can be purchased is 20 at a cost of ¢10,000. As an open ended Fund, more money will be raised on an ongoing basis. The Fund Manager hopes to raise $5 million dollars in the first 12 months and more thereafter.

The Gold Fund Unit Trust is organised under the Securities Industry Law 1993 (P.N.D.C. 333) as amended and the Unit Trusts and Mutual Funds Regulations (L. I. 1695). The license to operate the Fund was issued by the Securities and Exchange Commission. Gold Coast Securities Ltd., the Promoter and Manager of the Unit Trust scheme is a Ghanaian limited liability company incorporated and registered in 1993.

www.ghanagoldfund.com

Accra , Cape Coast , Ho, Hohoe, Kumasi , Obuasi, Takoradi, Tamale, Tarkwa.

021-256342; 051-28445; 031-25540; 0582-42250;

093-522394; 091-28263; 071-22725; 0362-21558