Completion of Merger

Caribbean Investment Holdings Limited

9 June 2020

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

CARIBBEAN INVESTMENT HOLDINGS LIMITED - COMPLETION OF MERGER WITH NORMANDY LIMITED

Road Town, Tortola, British Virgin Islands, 9 June 2020 -- (London - AIM: CIHL; Bermuda - CIHL) (the "Company" or "CIHL").

Further to the announcement made by the Company on 5 June 2020 regarding the proposed merger with Normandy, the Company today announces that the relevant documents in connection with the Merger have been filed with the BVI Registrar of Companies and therefore the Merger will become effective today.

The Company will issue 35,774,443 new shares to former Normandy shareholders (the "Consideration Shares") in connection with the Merger, and application has been made for depositary interests representing those new shares to be admitted to trading on AIM effective tomorrow, 10 June 2020 ("Admission"). Following the issuance of the Consideration Shares, the Company will have 134,741,886 ordinary shares in issue.

Person releasing this information on behalf of CIHL: Philip Osborne, Company Secretary

For further information contact:

Caribbean Investment Holdings Limited

UK +44 (0)207 248 6700

Cenkos Securities plc

Nicholas Wells +44 (0)207 397 8920

Note: This and other press releases are available at the Company's website: http://www.cihltd.co.

Background Information

Caribbean Investment Holdings Limited ("CIHL") is a parent holding company with no independent business operations or assets other than its investments in its subsidiaries, intercompany balances and holdings of cash and cash equivalents. CIHL's businesses are conducted through its subsidiaries. The Belize Bank Limited ("BBL") is incorporated and based in Belize and focuses on the provision of financial services and lending to domestic clients. Belize Bank International Limited is incorporated and based in Belize and focuses on the provision of financial services and lending to international clients. CIHL also owns an international corporate services business based in Belize, which operates as Belize Corporate Services Limited. Within Belize, BBL is one of the largest, full service commercial and retail banking operation with a head office in Belize City and eleven branches extended into each of the six districts of Belize. The principal operations of BBL are commercial lending, consumer lending, deposit taking and related banking activities.