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LOM (Holdings) Limited Announces Share Repurchase Programme

05 5 2004

Hamilton, Bermuda: 5 August 2004 - LOM (Holdings) Limited (LOM.BH) has given notice to the Bermuda Stock Exchange (BSX) of its intention to commence a repurchase programme for its Common Shares.

In the notice LOM indicated that in view of the disparity between the current share price and the current book value of shares, the Board of Directors has authorized management to purchase shares for cancellation at a cost not to exceed $1,000,000.

During the first half of 2004 the Company did not repurchase any of its shares.