GraceKennedy

The following is a statement from Mr. Douglas Orane, Chairman & CEO GraceKennedy Limited

There have been reports in the news media today (February 4, 2010) that a Douglas Orane owed debts to Finsac which were not repaid and were written off. I would like to state that I have never borrowed any money which I have not repaid in full.

My mother and father started a business under the name Douglas C Orane Ltd. which was named after my father, now deceased. His name was Douglas Clair Orane. That company manufactured doors, windows and parquet flooring for many years until it was sold in 1983 as a going concern to Messrs. Y.P Seaton and Neil Seaton. They continued to operate this company as a going concern under the same name – Douglas C Orane Ltd.

Neither my mother, my father, nor I have had control of the company since 1983 – over 26 years ago.

Douglas R. Orane