GOLD COAST SECURITIES LIMITED
LAUNCHING OF:
GHANA 'S GOLD FUND UNIT TRUST ON MONDAY, MARCH 29, 2004, 10.00 A.M.
AT THE COCONUT GROVE REGENCY HOTEL BY


THE HON. MINISTER OF FINANCE & ECONOMIC PLANNING
MR. YAW OSAFO-MAAFO, MP


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. It is the second unit trust to be established in Ghana . The first one is the HFC Unit Trust that has successfully supported the housing industry in Ghana for over a decade.


The Gold Fund is an enterprise development Fund. The Fund aims to support the goal of making the private sector the engine of growth by providing the long-term capital needed to fuel the sector. Success when achieved by the Gold Fund will help make the Golden Age of Business declared by government possible. The capital needs of small to medium scale enterprises in the growth areas of agro-processing; information, communications technology; and tourism will be given high priority.


The other aim of the Gold Fund is to provide a safe, secure opportunity for Ghanaians to invest to meet long-term needs such as retirement. In this regard, the Fund will seek money that can be managed over long periods of time (i.e. more than 3-5 years). Gold Coast Securities wishes to stress the long-term nature of the Gold Fund. Gold Coast. It is instructive to note that Gold Coast Securities has successfully managed an investment fund for international clients on a test basis for nine years. The international clients fund has yielded over 300% increase in value in US dollar terms during the nine-year period. The fund has been invested in Ghana . This illustrates the potential value of long-term investments in the country.


The GOLD FUND consists of an unlimited number of units of beneficial interest. The Fund is therefore open ended. The initial offering period for the Units of the Gold Fund will begin from 8:30 a.m. on March 29, 2004 and end at 5:00p.m. on June 25, 2004 . During this period, 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. 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 Gold Fund Unit Trust is being 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). Gold Coast Securities has been issued with a license to operate the Fund 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. The registered office of Gold Coast Securities is:


21 Isert Road, North Ridge
(Near the Royal Danish Embassy)
P. O. Box 17187
Accra


Gold Coast Securities has established offices in Accra , Tamale, Takoradi, Kumasi , Ho, Hohoe, Obuasi and Tarkwa. The Company will:


  
 * Act as the Fund's Manager, with exclusive discretion over the Fund's assets;
    * Provide administrative services; and
    * Provide unit holder service to the Fund.


The Trustee is Provident Insurance Company Limited, a limited liability company incorporated in Ghana in 1991 to carry on the business of insurance. The independent auditor for the Fund is Deloitte ( Ghana ).


Gold Coast Securities Limited
22 March 2004