Product Launch

The Issuer wishes to advise that this release is a reissue of an announcement made on 09/12/2005 to facilitate publication by 3rd party vendors 

 'NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN'

9 December 2005

Queen's Walk Investment Limited

Global Offer of 22,500,000 Ordinary Shares of no par value each at a price of €
10.00 per Ordinary Share and application for admission to the Official List and
to trading on the London Stock Exchange.

A copy of the prospectus relating to the above has been submitted today to the
Financial Services Authority, and will shortly be available for inspection by
the public during normal business hours on any weekday (Saturdays, Sundays and
public holidays excepted) at the Financial Services Authority's Document
Viewing Facility, which is situated at:

Financial Services Authority 25 The North Colonnade Canary Wharf London E14 5HS
Tel. no. [phone]

(Documents will usually be available for inspection within six normal business
hours of this notice being given).

Nigel Massey

Kleinwort Benson (Channel Islands) Fund Services Limited

Company Secretary

For further information please contact: Tom Hampson

M: Communications

Phone [phone]

These materials may not be distributed, directly or indirectly, in or into the
United States, Canada, Australia or Japan. They are not an offer to sell or the
solicitation of an offer to buy the securities discussed herein.

This announcement does not constitute an offer of securities for sale in the
United States. The securities mentioned herein have not been, and will not be,
registered under the U.S. Securities Act of 1933 (the 'Securities Act'), and
may not be offered or sold in the United States, or to, or for the account or
benefit of, US persons (as such term is defined in Regulation S under the
Securities Act) unless they are registered under the Securities Act or pursuant
to an exemption from registration. No public offer of securities is being made
in the United States. In addition, the issuer of the securities mentioned
herein has not been and will not be registered under the US Investment Company
Act of 1940, and investors will not be entitled to the benefits of such Act.