Stephen Edghill - Chairman 2007/8

We are pleased to report continued growth in 2008. Gross income grew by 21%. While consumer credit continues to be our core business, new areas of business from the merchant bank division contributed significantly to our overall performance. Net earnings for the year increased by 22% to $7,165 million.

During the year we continued to expand the scope of financial services. The Merchant Bank division achieved significant success in the areas of commercial lending for property development and foreign exchange trading. This division is driven by a professional team committed to providing prompt, efficient and personalized service. In order to facilitate our continued expansion we moved our operations to more spacious accommodations at Morelands in Hastings.

We are satisfied more than ever that our continued investment in the highest levels of corporate governance, internal risk control and compliance is essential to protect the interests of our shareholders and stakeholders, particularly in these troubled times.

Our outlook for 2009 is one of confidence that the expertise, enthusiasm and commitment of our team will enable us to identify and capitalize on the opportunities that may arise. We would like to thank our loyal and committed staff for their dedicated service that enabled us to achieve these positive results in a challenging year. To our many customers and investors, we are grateful for their support and continued loyalty.

Stephen R. Edghill
Chairman