Zublin Development- Caribbean Construction, West Indies Grenada

CAMPER & NICHOLSONS ACQUISITION OF THE MARINA AT PORT LOUIS, GRENADA W.I.

Guernsey, December 27, 2007 -- Camper & Nicholsons Marina Investments Ltd (‘CNMI’ or ‘the Company’), the AIM-listed Guernsey-based specialist marina investment company, today announces that it has exchanged contracts to acquire the marina at Port Louis, located in St. George’s, the capital of Grenada, West Indies and certain marina related real estate for US$24m from Port Louis Land Ltd and Port Louis Trading Ltd.

The acquisition cost is substantially payable on completion in early January 2008. The final cost of the marina, which will include high technology marina systems, and a world class capitainerie, is projected to be US$36 million. As part of the acquisition, CNMI is also purchasing approximately 23,800 sq m of land (including reclamation rights), for mixed use development for which detailed planning consent is in place.

The marina at Port Louis is self-contained -- both with its own secure access and complete control over the facilities required to fully operate and market the marina as a stand-alone entity. It is anticipated, however, that the marina at Port Louis will benefit from being a key part of the wider Port Louis development.

George Kershaw, Chairman of CNMI, said: ‘Port Louis marks a further step in our program of acquiring and developing strategically located marinas. Port Louis will be a flagship Caribbean marina with an important capacity for the fast growing superyacht fleet. The Government of Grenada has been pro-active in establishing a yacht friendly legislative and fiscal climate that will assist the further growth of yachting in Grenada. This will benefit the Grenadian economy as well as our company and our shareholders.’

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