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KeyTech Issues Preliminary Year -End Announcement

14 June 2001

Hamilton, Bermuda: 13 June, 2001- The Bermuda Stock Exchange (BSX) has received a preliminary year-end announcement from KeyTech Limited. In his Chairman's Report to shareholders, Chairman Dr. James A. C. King states; "The Company produced another solid performance in 2001, although Net Income was down from $14.2 million in 2000 ($6.62 per share) to $12.9 million ($5.98 per share).

While Operating Revenues were $1 million higher in 2001 at $86.6 million, and Operating Expenses were favorably reduced by a similar amount, these gains were eroded by increased Amortization charges of $1.3 million and a reduction in Investment Income of $2.5 million. The lower Investment Income can be attributed to the below average returns from the North American markets during the year.

KeyTech's Balance Sheet remains strong. The book value of each share is $44.52 and the Company's return on average Shareholders' Equity was 13.8% in 2001."

The company plans to issue its Annual Report on the 18th June 2001.