Gowan Group Ltd.

INVESTMENT DIVISION
The Group has a very active investment portfolio, both directly managed and managed by international fund managers. Over the last number of years, the Group has invested funds in many public and private companies in Ireland, the UK, Europe and the US. The Gowan Group Investment Committee, a sub-committee of the Group Board, meets formally on a regular basis to review the share portfolio and consider new investments. Presentations are made to the Committee by leading Irish and international stockbrokers and merchant banks. The investment criteria used by the Group is to have a well diversified portfolio of investments with exposure to many sectors in a wide geographical area.