THE NIGERIAN STOCK EXCHANGE FACTBOOK 2008

Published Under the Authority

of the Council of:

THE NIGERIAN STOCK EXCHANGE

STOCK EXCHANGE HOUSE

2/4 Customs Street,

P.O. Box 2457, Lagos

Telephone: 234-01-2660287, 2660305, 2660335, 2669978, 2661293

Telex 23567 STEX.NG

Fax: 234-01-2668281, 2668724

E-mail: nse@nigerianstockexchange.biz

Website:www.nigerianstockexchange.com

BRANCHES:

Abuja (Area Office)

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EDITORIAL BOARD

Prof. Ndi Okereke-Onyiuke, PhD, OON (Chairman)

Mr. Kene Okafor (Editor)

Mr. Farooq Oreagba (Editor)

Mr. Arize Nwobu (Deputy Editor)

Copyright:

The Nigerian Stock Exchange

ISBN 978 0262 - 1 - 6

Design/Typesetting by: Management Information Technology Department of The Nigerian Stock Exchange, 2/4 Customs Street, Lagos.

Produced by:

Pathway Communications Ltd.,

5/6, Adekunle Odunlami Crescent,

Next to AfriBank Estate,

Ilupeju - Lagos.

Nigeria.

Tel: 01-7911733

FACTBOOK 2008

THE FRONTIER FUND

1. Head office: Sterling Bank Plc. Sterling Towers 20, Marina, Lagos. 2. Nature of Fund: Open-Ended. 3. Date of First Allotment: 18th March, 2004 4. Date Listed on The Exchange: 3rd February, 2005 5. NSE Classification: Memorandum Quotation 6. Fund Manager: Sterling Bank Plc 7. Directors of The Manager: Nil 8. Company Secretary: Ronke Savage 9. Auditors: PricewaterhouseCoopers (Chartered Accountants)

10.Fund Registrars: Sterling Registrars Limited 11.Trustees To The Fund: First Trustees Nigeria Limited 12. End of Accounting Year 30th June 13.Unitholders’ Fund (2005) i. Issued: N218,240,000.00 ii. Number of Units 2,717,021 14. Proposed Portfolio Structure Equity Investments 70% Money Market Investments 30% 15. Actual Portfolio Structure (2005): Equity Investments - 83% Money Market Investments - 17%

TWO-YEAR FINANCIAL SUMMARY STATEMENT OF TOTAL RETURN 2005 2004 N“000 N“000 Net gains on trading activities 6,132 11,309 (Loss)/gain on revaluation of securities (44,258) 14,297 Other income 16,216 5,354 Operating expenses (7,419) (4,294) ------------ ------------ Net income before tax (29,329) 26,666 Taxation (484) (105) ------------ ------------ Net income after tax (29,813) (9,579) ------------ ------------ Net (decrease)/increase in unitholders’ funds from investment activities (29,813) 16,982) ======= ======= BALANCE SHEET: Investment securities 215,464 248,243 Accounts receivable 3,982 38,804 Bank balance 9,269 18,414 ------------ ------------ Total assets 228,715 305,461 ------------ ------------ Accounts payable (10,475) (32,797) ------------ ------------ Net assets 218,240 272,664 ======= ======= REPRESENTED BY: Unitholders’ equity 272,664 255,682 (Deficit)/retained earnings (54,424) 16,982 ------------ ------------ Unitholders’ funds 218,240 272,664 ======= =======

Important Note:

While every effort is made to ensure accuracy, no responsibility is accepted for any error, which may occur in this book.

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