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Greetings and review from new CEO Simon Thompson - Dec 3, 2009.

Greetings!

Many of you would have been aware that some management changes have been put in place. I am excited by my new role as Chief Executive Officer and look forward to working with our valued clients.

I want to add a special word of thanks to Gerard van Tilborg, our former Chief Executive Officer, for his strong leadership through the last couple of years. Gerard has elected to focus on our sister company Easy Factors International Ltd and will continue to give strategic advice on some of Locks clients.

What excites me about our business is the diversity of our clients. Some come to us with long histories, others are new enterprises. We cater to a wide range of industries – from importers to manufacturers. Each has a unique situation, each presents us with a challenge.

We realise our customers, as owners, know their businesses more than anybody else. Where we can make a difference is when we take time to understand their business and offer them our financial solutions.

Every Friday our Credit Committee meets to review accounts and looks at new business opportunities. Our Lending Managers present a written report to the committee and backs this up with a verbal briefing. It may not quite be the “Dragons’ Den” as seen on television but sometimes we can have some very robust discussions! From our perspective, the better informed we are, the better we can help a company with its expansion and growth. We love seeing our clients prosper and grow.

Lock is in a unique position in the market because of our strong financial standing, and our capacity to extend help to established businesses as well as young companies. Our flexibility and product range allow us to cater to varied needs. For example, as ownership transitions take place and entrepreneurs retire, we can help with management buy-outs or acquisitions.

Businesses have been telling us they like the fact that we are flexible, we listen and we have creative solutions. They also like the fact that we take their business ambitions seriously and we take time to help them cross their hurdles.

The last 18 months have been challenging for many businesses. Many companies have been tightening their belts. Financial liquidity will continue to stay tight but we have capacity to finance fundamentally sound businesses. We welcome enquiries for new business opportunities.

Finally, I would like to thank our clients and business partners for your support this year. I wish you and your families a very happy and safe festive season.