Placement of Loan Notes

RNS Number:5827F
BB Holdings Ltd
11 October 2007


BB Holdings Limited ("BB Holdings" or the "Company") placing of US$50,000,000
loan notes and 11,094,442 warrants to subscribe for new ordinary shares of the
Company at an exercise price of US$6.50 per new ordinary share

Belize City, Belize, October 11, 2007. The directors of BB Holdings (London:
BBHL) today announce the placing of US$50,000,000 10 per cent. Series 2 fixed
rate, unsecured, loan notes with a maturity date of November 2, 2014 (the "Loan
Notes"), together with 11,094,442 warrants to subscribe for new ordinary shares
of the Company at an exercise price of US$6.50 per new ordinary share, until
August 2, 2014 (the "Warrants") (the "Placing").

The Loan Notes and Warrants have been offered to certain existing non-US
shareholders in BB Holdings Limited. Lord Ashcroft, KCMG has undertaken to take
up Loan Notes amounting to US$37,939,000 together with the 8,418,244
corresponding Warrants. Lord Ashcroft has further undertaken to subscribe for
himself, or procure others to subscribe, for any Loan Notes and corresponding
Warrants which are not taken up by other placees, thus ensuring the entire issue
of the Loan Notes and Warrants will be taken up.

The Placing is expected to raise US$50,000,000 (US$49,700,000 net of expenses).

BB Holdings is actively pursuing a strategy to increase its US dollar
denominated earnings in the Caribbean region and in particular in the Turks and
Caicos Islands where the directors consider that there are significant
opportunities to utilise the proceeds of the Placing in an economy that is
experiencing rapid growth in the tourism and property development sectors.

In pursuit of this strategy, BB Holdings raised new capital in April 2007
through the placing of US$50,000,000 10 per cent. fixed rate, unsecured, loan
notes with a maturity date of April 23, 2013, together with warrants to
subscribe for new ordinary shares of the Company at an exercise price of US$6.50
per new ordinary share. This was fully subscribed and the proceeds were used to
capitalise The Belize Bank (Turks and Caicos) Limited to fund lending in the
normal course of business principally in the tourism and property development
sectors.

The demand for new lending and the availability of opportunities for expansion,
particularly in the Turks and Caicos Islands, has continued and has created the
need for yet further funding sources.

In the first instance, it is anticipated that the proceeds of the Placing will
be used by BB Holdings to further capitalise The Belize Bank (Turks and Caicos)
Limited in order to:
     
(a)  reinforce and expand its operating bank as a leading lending institution in 
     the Turks and Caicos Islands;

(b)  increase the range of other financial services offered by the operating 
     bank; and

(c)  enhance its market share of certain financial products and services in the 
     region.

BBHL may also, in due course, review other opportunities to expand its financial
services business to other parts of the Caribbean or Central America.

Application will be made for the Warrants, but not the Loan Notes, to be
admitted to trading on AIM, and it is expected that trading in the Warrants will
commence on November 2, 2007.  The Placing of the Loan Notes and the Warrants is
not conditional on admission of the Warrants to trading on AIM.

The Company has also published an admission document for the Warrants, which is
available free of charge to the public at the registered office of Cenkos
Securities plc, 6.7.8 Tokenhouse Yard, London EC2R 7AS, United Kingdom, and at
the offices of the Company at 3rd Floor, 212 North Front Street, PO Box 1764,
Belize City, Belize, Central America, during normal business hours on any
weekday (Saturday, Sunday and public holidays excepted), up until one month from
the date of Admission.



Contacts:


BB Holdings Limited            Makinson Cowell           Cenkos Securities plc
Belize +501 227 7178           +1 (212) 994 9044         +44 (0)20 7397 8900
UK +44 (0)20 7248 6700


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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