The Cayman Islands Government announced today that it has priced US$312
million principal amount of 5.95% Notes due 2019 (the "Notes") in an
international offering.

    The offering was launched on 18 November 2009 and priced on 19 November
2009. The Notes have a maturity of 10 years (2019) and a coupon of 5.95% per
year. The net proceeds from the offering will be used to repay outstanding
bridge financing facilities and to fund capital expenditures.

    The Notes have not been registered under the U.S. Securities Act, as
amended, (the "U.S. Securities Act") and unless so registered, may not be
offered or sold in the United States absent registration or an applicable
exemption from, or in a transaction not subject to, the registration
requirements of the U.S. Securities Act and other applicable securities laws.

    This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the Notes, nor shall there be any sale of the
Notes in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws
of any such jurisdiction.

    About the Cayman Islands

    The Cayman Islands is an Overseas Territory of the United Kingdom located 
in the western Caribbean Sea. The Cayman Islands consists of three islands,
Grand Cayman, Cayman Brac, and Little Cayman. With a population of
approximately 57,000, the economy of the Cayman Islands is primarily driven
by the financial services and tourism industries. More information about the
Cayman Islands can be found on http://www.caymanfinance.gov.ky.

    Forward-Looking Statements

    This news release includes forward-looking statements that reflect the
Government''s current views with respect to future events. The words
"expects," "intends," "anticipates," "believes," "projects," "estimates" and
similar expressions identify forward-looking statements. These
forward-looking statements are based upon estimates and assumptions made by
the Government or its officials that, although believed to be reasonable, are
subject to certain known and unknown risks and uncertainties.

    These risks and uncertainties include, among others, the political,
economic and other conditions in the Cayman Islands and globally; the actual
rates of change, if any, of gross domestic product and other economic
indicators of the Cayman Islands in any year or other period; the
Government's financial condition and budgeted revenues and expenditures,
including, for example, the Government's ability to increase revenues and
reduce expenditures; legislative, regulatory or administrative initiatives
affecting businesses, financial institutions and foreign investment in the
Cayman Islands; changes in tax and other laws in the United States, United
Kingdom or Cayman Islands and other major financial centers that may affect
the attractiveness of financial services in the Cayman Islands; economic
conditions in the United States and other major financial centers that may
result in lower demand for financial services or tourism in the Cayman
Islands; prevailing conditions in domestic, international and multilateral
lending markets and domestic and international capital markets that may
affect our ability to finance budgetary requirements and to refinance
outstanding debt and other obligations; weather, climatic or geological
occurrences, particularly hurricanes, earthquakes and tropical storms;
declines in demand for financial services or tourism in the Cayman Islands,
due to competition from other countries or otherwise; terrorism, particularly
acts of terrorism outside of the Cayman Islands that affect tourism or
financial markets within the Cayman Islands; changes in interest rates or
exchange rates; a reduction in our foreign currency reserves; the financial
condition and liquidity of banks and other financial institutions in the
Cayman Islands; availability and terms of financing for new projects; the
performance of non-core entities owned or controlled by the Government;
trade and tariff policies of the Cayman Islands' trading partners; declines
in tax revenues; and revisions to economic, financial and statistical
information, particularly as a result of pending Government audits.

    http://www.caymanfinance.gov.ky

    SOURCE: Ministry of Finance - Cayman Islands Government