Securities and Exchange Commission clarifies

With reference to the news article titled “SEC Spotlight on two Dozen Companies” which appeared in the Daily Mirror of August 29, the Securities and Exchange Commission has sent the following clarification:

The article quoted that “the Corporate establishments which were being investigated included Environment Resources Investments, Miramar Beach Hotel PLC, National Lanka Finance Corporation, Huejay International, MTD Walkers PLC, Confifi Hotel Holdings, SMB Leasing, DPC Blue Twod & GREG, Hotel Reefcomber, Sommerville Stockbrokers (Pvt) Ltd, Watapota Investments, Colombo Land & Development Co., Alutad Ltd. Pan Asian Power Ltd., Nation Lanka Finance, Deepes Merchant Ltd. Swarnamahal Financial Services, East West Properties Traders, Taprobane Securities (Pvt) Ltd., Nawaloka Hos-

Any investigation conducted by the SEC pertaining to the trades executed by any investor in the secondary market should not be construed as an investigation against the establishment

pitals PLC, Union Bank PLC and Blue Diamond Jewellery Wor1dwide.” The said article also went on to state that “Inquiries by the SEC Surveillance Division on Mahaweli Reach Hotels, Ascot Holdings, Singer Fi- nance, Radiant Gems, On’ally Holdings, Asian Finance, Asia Asset Finance and Acme Printing and Packaging Ltd. are pending”In light of the above, the SEC wishes to categorically mention that there were no on-going or pending investigations at present in respect of any of the above mentioned establishments mentioned in the article under reference. It should also be mentioned that any investigation conducted by the SEC pertaining to the trades executed by any investor in the secondary market should not be construed as an investigation against the establishment whose securities were involved in such investigation.