BCB HOLDINGS LIMITED – Demerger of its Non-Belizean Business (Update)

Belize City, Belize  – 28 October, 2011 – In a filing to the Bermuda Stock Exchange (“BSX”), BCB Holdings Limited (the “Company”; Tickers: AIM: BCB; Trinidad and Tobago Stock Exchange: BCB.TT; Bermuda Stock Exchange: BCBH.BH) announces that at the General Meeting of the Company held on 26 October, 2011, a resolution approving the reorganisation of the Company and its subsidiaries (the “Group”) by the demerger of the Group’s non-Belizean businesses to Waterloo Investment Holdings Limited (“WIHL”) was approved. The board of directors of the Company has also approved all relevant steps and the demerger is now effective.  Ordinary shares in WIHL will be traded on JP Jenkins from 27 October 2011 on a matched bargain basis.

In addition, the Company confirms that Andrew Ashcroft and Philip Johnson have now stepped down from the board of Directors and Cheryl Jones is now non-executive Chairman.

The Company also confirms that the new exercise price for the warrants, which are admitted to trading on AIM, is US$1.95 and that the options in the Company have also been amended to reflect an exercise price of US$1.95. The options vest and become exercisable in three equal instalments on August 1 2012, August 1 2013 and August 1 2014 and they lapse on August 1 2019. The interests held in the Company by the Directors are as follows:

For further information contact:

BCB Holdings Limited                                      

Belize +501 227 7178

UK +44 (0)20 7248 6700

Cenkos Securities plc

Nicholas Wells / Adrian Hargrave +44 (0)20 7397 8900

Note: This and other press releases are available at the Company's web site:

http://www.bcbholdings.com