Retail Investors Advised By Independent Financial Advisors (IFAs)

British Empire advises that its Ordinary shares of 10p each (Shares) and the 8 1/8 per cent Debenture Stock 2023 (the Debenture Stock) can be recommended to retail investors by Independent Financial Advisors (IFAs), as the Shares and the Debenture Stock are exempt from restriction on distribution under the Financial Conduct Authority’s rules on nonmainstream investment products. British Empire intends to continue to conduct its affairs in a manner which would enable IFAs to continue to be able to recommend the Shares and the Debenture Stock to retail investors for the foreseeable future.