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Guaranteed Capital Corporation Ltd. De-Listed From The BSX.

22 22 1998

Hamilton, Bermuda, September 22, 1998 - The Bermuda Stock Exchange (BSX") today announced the de-listing of Guaranteed Capital Corporation Ltd. The de-listing was granted as a result of all the outstanding debt issued under Guaranteed Capital Corporation Ltd.'s Euro Commercial Paper Program having been repaid.

For further inquiries on Guaranteed Capital Corporation Ltd. contact Mr. Bruce Murray, Quorum International Ltd., telephone 441-295-9671 of fax 441-292-5962.