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MIF Limited Announces Share Repurchase Programme and Postponement of Capital Base Expansion

30 November 2000

Hamilton, Bermuda, 30 November 2000 - Today, MIF announced the allocation of a fund of up to US$2,500,000 which may be used to repurchase shares through year-end 2000. The Company believes that the current market price for its shares fails to attribute appropriate recognition to its strengths and its prospects.

MIF also notified the Exchange that the Company is temporarily postponing its initiative to expand its capital base through an incremental share offering. The Company noted that its decision was based on the general market environment and seasonal factors associated with the new issues markets. The Company further stated that it will reexamine the appropriate issues in the future and may restart the process in early 2001.