Update on progress at the Gibraltar Port Facility

Nature Group PLC

Update on progress at the Gibraltar Port Facility

Nature Group announces an update on developments at the Gibraltar Port Facility following the industrial accident of 31 May 2011.

The past three weeks have been highlighted by extensive cleaning operations at the site and at the sea front of the facility.

An independent investigation is being conducted by the Gibraltar Government and is expected to take about one week. All indications are that the plant is expected to be handed back to Nature at the conclusion of the investigation.

Nature is also conducting its own investigation and, together with its insurers, expect to have a full report on damage and cause within the next few weeks.

In the past weeks NPRF, Nature group subsidiary, together with local staff have cooperated fully with the Gibraltar Government in order to mitigate the impact of the incident.

Nature are extremely keen to meet Gibraltar's Chief Minister, The Honourable Peter Caruana, as soon as possible to discuss safety and rebuilding issues in conjunction with the previously approved extension of the plant.

The adjacent cruise terminal and consequent risk assessment in relation to this will be highlighted as well.

At this moment, Nature has continued limited collecting operations and is confident the financial impact of the incident will be limited to higher logistical costs, as future cargo operations will be temporarily diverted to other locations.

Gibraltar, with almost 100,000 vessel passages through The Strait annually is one of the most important shipping lanes in the world and Nature's treatment facility fulfils a key role in the obligatory legislation for ships' waste in the area.

A further update is planned after insurers and independent survey reports are completed, hopefully before our AGM on July 14th, 2011.

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