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Aspic Corporation announced its acquisition of one of the reputed Finance Companies: Central Investments and Finance Limited (CIFL). The approval of the Central Bank of Sri Lanka has been obtained for increase in CIFL's share capital to Rs. 100 Million and for the change of Management of this Finance company.

Aspic Corporation is a diversified and well managed investment Company which has already structured its diversified business ventures in Sri Lanka such as Farming, Plantation, Real Estate, Engineering, Mining, Distribution, Tourism and Leisure Industries. These companies are playing a major role towards industrial development in many sectors of the economy.

The company has already made a substantial investment in the above ventures and anticipate to make further investment in other ventures during the year 2005-2006.

The Management of Aspic Corporation wish to appoint new Board of Directors for CIFL under the Chairmanship of Deepthi Perera.

The other directors will comprise Shirley Perera, former Managing Director/CEO of Merchant Credit of Sri Lanka and LB Finance Ltd, Janaka de Silva, First General Manager of Sampath Bank, Chandralal Rodrigo, Managing Partner of Rodrigo Associates (Firm of Chartered Accountants) and Professor Amarasekera a well-known figure in the Medical field.

The prime objective of the newly acquired Finance Company (CIFL) is to make a sustainable growth in business and profits to lend a supportive hand for growth and development of Sri Lankan Economy and moreover to make an enhanced contribution towards building up the Capital Market in the country.

The Management of CIFL will play a strategic role in the development of its Financial Product Portfolio such as Finance Leases with a particular emphasis based on structured leases, innovative Term Loan Facilities, Real Estate Development, Strategic Financial Product Portfolio Development with a view to promote industrial/Agricultural Businesses particularly taking into consideration of clients yield and cash flow scenarios.

www.ceylincoproperties.com

www.Pathmaconstruction.com

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