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Camposol Holding Plc. (OSL:CSOL) Camposol Executes An Amendment To The Credit Suisse Bank Loan

Camposol Holding Plc. (OSL:CSOL) On 24 December 2008, Camposol S.A. (Camposol) has executed an amendment to the original USD 65 million loan agreement with Credit Suisse, at the following main agreed upon terms:

* Camposol has prepaid the Loan in the amount of USD 7.0 million.

* As a consequence of the prepayment, the amortization schedule has changed as follows: USD 0.0 million in 2009, USD 6.4 million in 2010, USD 13.9 million in 2011, USD 15.4 million in 2012, and USD 22.3 million in 2013.

* Prepayment has now been allowed granting Camposol, as from 26 May 2010, the choice to prepay the Loan, penalty of 3.25%. Original loan did not allow for prepayment.

* Camposol has increased its capital with an equity contribution of USD 14.0 million from Camposol Holding Plc's cash reserves.

* Camposol has been permitted to rearrange, within the Camposol Group, its interests on the fishing (Marinasol) and shrimp (Marinazul) businesses, to allow the release of the Guarantor (Marinasol).

* New additional Eligible Offtakers will be added in order to facilitate compliance with the covenant requiring 65% of aggregate export sales to be made to Eligible Offtakers.

* The Minimum EBITDA (2) to Interest Expense Ratio covenant was changed to: 4.00:1x, for the fourth fiscal quarter in fiscal year 2008 and for the first three fiscal quarters of fiscal year 2009, 1.40:1x, for the fourth fiscal quarter in fiscal year 2009, 2.75:1x and for each fiscal quarter thereafter, 3.50:1x.

* The maximum Total Debt to EBITDA (2) Ratio covenant was changed to: as of the end of the fourth fiscal quarter in fiscal year 2008, 6.25:1x; as of the end of the first fiscal quarter in fiscal year 2009, 6.35:1x; as of the end of the second and third fiscal quarters in fiscal year 2009, 6.00:1x; as of the end of the fourth fiscal quarter in fiscal year 2009, 3.25:1x; and as of the end of each fiscal quarter thereafter, 2.50:1x.

* Total Debt of Camposol shall not exceed, at any time, (i) from the date of the Amendment (24 December 2008) through June 29, 2009, USD 83.5 million, (ii) from June 30, 2009 through December 30, 2009, USD 80.0 million and (iii) from December 31, 2009 and thereafter, USD 77.5 million.

* An additional margin of 2.00% to the previous 7.85% interest rate shall be applied until the company returns to the original covenants (1). The additional margin started accruing on August 26, 2008.

In summary, both the Loan agreement and this amendment, secure Camposol sufficient financing in order to, despite the financial turmoil, carry out its previously communicated plans and targets.

(1) The original covenant levels were (a) the Total Debt to EBITDA Ratio of the Borrower being equal to or less than 2.50:1x and (2) the EBITDA to Interest Expense Ratio of the Borrower being equal to or greater than 4.00:1x.

(2) Financial covenants are for Camposol S.A. EBITDA for Camposol S.A. was USD 2.3 million in Q1 2008, USD 5.3 million in Q2 2008, and USD 6.8 in Q3 2008. As per 30 September 2008, Camposol's debt to Credit Suisse totaled USD 65 million.

Other Developments Pursuant to the terms of the aforementioned amendment to the Credit Suisse bank loan, Camposol's sale of interests in Mission Asparagus, LLC (Mission Asparagus), has been completed. Mission Asparagus was incurring losses; therefore, Camposol decided to sell its interests therein, receiving as consideration a counter-guarantee to be held harmless against Mission Asparagus's creditors.

For queries, please contact:

CEO, Juan Jose Gal'Lino jgalino@camposol.com.pe

CFO, Piero Dyer Coriat pdyer@camposol.com.pe

Phone: +511 621-0804 Fax: +511 221-4478

About Camposol Camposol is the leading agroindustrial company in Peru, involved in the cultivation, processing and commercialization of agricultural products such as asparagus, sweet peppers, artichoke, avocado and mango. These are exported as fresh, preserved or frozen products mainly to markets in Europe and the United States of North America. Camposol encompasses a totally integrated business from the production of raw material in the fields to processing in the industrial plant and subsequent commercialization in Europe and the United States. Camposol has over 20,000 own hectares of which over 4,800 are already used for agricultural purposes, operates in 3 different locations in the Peruvian coast, and has one fully owned processing plant for fresh, preserved and frozen products. The company has around 10,000 part and full time employees.

Please visit www.camposol.com.pe

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Camposol Holding Plc.

http://www.camposol.com.pe/

ISIN: CY0110601115

Stock Identifier: OSE.CSOL

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Camposol Holding Plc.

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