CLARIFICATION ON LIGHT & POWER HOLDINGS’ ANNUAL REPORT

Light & Power Holdings Ltd. (LPH) would like to make the following clarifications based on an item published in another section of the media yesterday:

The profit of BDS $44.5 million in 2012 attributed to Barbados Light & Power Company Ltd is the profit of parent company, Light & Power Holdings (LPH) and is based on the consolidated accounts of the assets, liabilities and results of LPH and its subsidiaries. These earnings are on total assets of BB$995 million.

The financials in the 2012 Annual Report of LPH therefore include the earnings of Barbados Light & Power Company Limited, LPH Caribbean Holdings which owns 20% of the shares of St Lucia Electricity Services (LUCELEC), LPH Renewables which is currently offering solar energy solutions, LPH Real Estate and the Self Insurance Fund which insures the plant and equipment of the Barbados Light & Power Company Ltd.

LPH Managing Director, Peter Williams noted that "LPH's strategy is to invest in other Caribbean utilities in order to allow shareholders to take full advantage of potential profit making activities in and outside Barbados. Customers will also benefit from greater cooperation between the Caribbean utilities". Williams added that LPH had also recently acquired majority ownership of Dominica Electricity Services (DOMLEC).

LPH Managing Director, Peter Williams noted that “LPH’s strategy is to invest in other Caribbean utilities in order to allow shareholders to take full advantage of potential profit making activities in and outside Barbados. Customers will also benefit from greater cooperation between the Caribbean utilities“. Williams added that LPH had also recently acquired majority ownership of Dominica Electricity Services (DOMLEC).

LPH is a publicly traded company on the Barbados Stock Exchange and its 2012 Annual Report is a public document.

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