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Camposol Holding Plc. (OSL:CSOL) Credit Suisse Bank Loan Amendment - Correction

Camposol Holding Plc. (OSL:CSOL) Reference is made to the previously announced statement dated 29 December 2008 on Camposol's execution of an amendment towards the company's bank loan with Credit Suisse.

The updated amortization schedule and minimum EBITDA to Interest Expense Ratios should read as follows:

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

* The Minimum EBITDA (2) to Interest Expense Ratio covenant was changed to: 4.00:1x for the first and second fiscal quarter in fiscal year 2008, for the third and fourth fiscal quarters 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.

Camposol would like to clarify that Camposol S.A.'s USD 14 million capital increase from Camposol Holding Plc's cash reserves was an intercompany capitalization. This capitalization did not occur within Camposol Holding Plc.

Camposol would also like to explain that "eligible offtakers" are clients (selected by Credit Suisse) that pay their invoices to a bank account guaranteed by Credit Suisse, where the interests and principal of the loan are discounted. In other words, 35% of Camposol sales do not pass though this account.

Both the Loan agreement and the 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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