CAUTIONARY STATEMENT UPDATE

NICO Holdings shareholders are referred to the announcement published earlier on.

Discussions continue are still in progress with strategic investors in General Insurance Business.If successfully concluded,they may result in the Group having strategic investors in general insurance.

Shareholding at NICO Holdings Limited level will remain unchanged. Shareholders and investors are advised to continue to exercise caution when dealing with the company's securities until a further announcement is made.

Victor Jamu
COMPANY SECRETARY

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