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LOM Announces Appointment To Its Audit Committee

Hamilton, Bermuda, March 23, 2006 - At a meeting of the Board of Directors of LOM (Holdings) Limited held 21st March 2006, Mr. Frank Penny has been named chairman of the Audit Committee, filling the position vacated by Ms. Susan Wilson upon her recent resignation.  Mr. Penny has been a member of the LOM (Holdings) Limited board of directors since its inception, and was a previous member of the Audit Committee.  Mr. Penny is president of a Toronto-based administration company, and a former accounting lecturer at the University of Toronto and accountant with Coopers & Lybrand in Toronto.