NOWE FINANSE LIMITED - Repurchase and Cancellation of Shares

Hamilton, Bermuda - 25 November, 2008 - Further to the announcement of 10 November 2007, the Directors of Nowe Finanse Limited (NOWEFIN.BH), wish to advise that 4,950,000 Shares were offered for repurchase and cancellation by Shareholders wishing to participate in the buy-back.  As the number of Shares tendered was in excess of 10% of the Shares in Issue as at 10 November 2008 the Shares will be repurchased on a pro rata basis.  The price at which the Shares will be bought back for cancellation will be EUR7.209 per Share, representing the unaudited Net Asset Value per Share as at 25 November 2008 less a discount of 10%.  Accordingly, Shareholders who requested that their Shares be included in the repurchase and cancellation will have 10.19% of the Shares offered for repurchase cancelled.

The Transaction Date for the repurchase and cancellation of the 504,500 Shares is 25 November 2008.  Payment of repurchase proceeds will be c. 28 November 2008. 

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