JMMB Annual General Meeting 2004

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The Vision lives on
17th November 2004 CAIB Conference St.
Lucia www.jmmb.com
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JMMBS MILESTONES DEMONSTRATE LEADERSHIP
May 13th, 1993 JA Money Market Fund started
Nov. 8th, 1994 US Money Market Fund started
Mar. 7th, 1997 Traded 1billion in a day
Jun. 2nd , 1999 Launch of the Long Term
Investment Account (Tax-Free)
Sep. 1st, 2000 Launch the first Sterling
account in the Caribbean
Aug. 2000 Opened CMMB in Trinidad Tobago
(replicating JMMBs model)
Feb. 20th, 2002 Launched JMMB Securities Ltd.
in Jamaica
Apr. 17th 2002 Launched Caribbean Bond Indices
in Jamaica and Trinidad
Dec. 2nd 2002 JMMB Ltd. Goes Public
Feb. 7th 2003 JMMB Ltd. Lists in Trinidad
Feb. 3th 2004 JMMB Securities Ltd. Launches
Equity Mutual Fund in Jamaica
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Who we are
InterCommercial Finance Merchant Bank
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100
100
100
CMMB Barbados
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JMMBs 2004 GROUP RESULTS
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JMMBs PERFORMANCE CONTINUESTotal Assets Growth

• 25 average annual growth
• Driven by core business
• Over 78,000 clients
• Ranked number one broker for retail clients
• In the top five largest financial institutions in
  Jamaica
• In the top five financial institutions (largest
  among brokers)

Private
Public
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JMMBs PERFORMANCE CONTINUESOperating Profits
Driven by Core business Regional
expansion Extensions of business
J Millions
Private
Public
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JMMBs PERFORMANCE CONTINUESEPS Growth
Driven by Core business Regional
expansion Extensions of business
J Cents per Share
Private
Public
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JMMBs PERFORMANCE CONTINUESDividends Growth
J Millions
Company policy
Private
Public
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JMMBs PERFORMANCE CONTINUESCore Business Growth

• Experienced volatile money market conditions
  early on in the year
• Net interest income up 23.2 for the period over
  the previous year
• Effective management of interest rate spreads
• Increased funds under management
• Lowered interest rates in the latter part of the
  period
• Brokered repurchase agreements up and sustainable
• Up to 482million for the period from 210
  million in 2003
• JMMB Securities Ltd. performing well
• Earned 34 million in the period
• Launched new JMMB Select Index Fund (funds under
  management)

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JMMBs PERFORMANCE CONTINUESRegional Expansion
Income from Other Revenue Streams increased over
57

Share of profits of associated company grew by
116
Intercommercial Bank and Merchant Bank acquisition
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Key Achievements in 2003-04

• Total assets under management increased 77 to
  5.2 billion
• Opened more than 750 new accounts
• Welcomed 23 new members into our family
• Trained 39 team members for a total of 175 days
• Spent over 600,000 on training (about 4 of
  operating expenses)
• Shared over 300,000 through charity donations to
  more than 80 institutions
• Launched first overseas office (in Barbados)

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Growth In Total Assets
TT
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Growth of Investment Portfolio
TT
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Growth of Shareholders Equity
TT
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Growth of Profit Before Taxes
TT
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JMMB SHARES DEMONSTRATE HOW VALUE IS UNLOCKED
THROUGH THE IPO PROCESS
Listed at 16 months
...20.50
4.9 X
At Listing
...4.15
3.6 X
Unlisted
...1.15

• Shares Outstanding ...1,463,386,752
• Shares floated on the JSE256,000,000 20

1 TTM means Trailing Twelve Months, 2 Audited
financials are completed through Aug. 02.
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Prudent decision making key to success

• Our investment decisions continue to be guided by
  the rules of our regulators and our internal risk
  monitoring system
• We use world class standards to measure our
  liquidity and capital adequacy levels
• Internal code of conduct at international levels

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Decisions supported by Research

• Our research unit has recently been expanded and
  continues to grow with the growth of the group
• We provide our clients with weekly updates of
  economic and market conditions
• We also publish a quarterly report that presents
  updates of the governments fiscal position and
  provide projections on the economic activity of
  Jamaica
• Via our partners in Trinidad and Tobago we also
  have access to timely research on that county
  and the region

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CAUTIONARY STATEMENT REGARDING FORWARD LOOKING
INFORMATION
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THE YEAR AHEAD

• New products
• Financial Planning Services
• New branches
• May Pen
• Browns Town
• JMMB Insurance
• Personal risk management products
• health
• Intercommercial Bank Strategic Alliance
• Deepening our presence in TT
• CMMB Barbados

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CROSS LISTED STOCKS HAVE LED THE GENERAL JSE
MARKET IN PERFORMANCE
Annual stock price return
Offer strong hedge against currency depreciation,
generally pay dividends in USD and offer
portfolio composition alternative to local only
stocks
TTSE and JSE cross listed stocks only included in
sample. Source JMMB Securities Analysis
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MONEYLINE TECHNOLOGY
Stock Portfolio
Statements
Encashment
Internal Transfers
Wire Transfers
Stock Order History
Maturity History
Stock Fill History
Transaction History
Cambio Requests
YOUR GOALS. FULL STOP.
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FIRST OF ITS KIND IN THE CARIBBEANCustomer
Service Keeping You Informed !
Info_at_jmmbsecurities.com JMMB BUY Order
Filled JMMBsl has bought 50,000 shares _at_
16.51 Order 31491 has 2,500 shrs
remaining Nov.16th
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Conclusion

• Vision Values Expertise Phenomenal
• Success

YOUR GOALS. FULL STOP.
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THANK YOU!
Disclosure Presenter owns shares of JMMB Ltd.
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JMMB SHARE OWNERS
Majority are in Jamaica Followed by TT Rest of
World makes up only 2
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JMMB SHARE PRICE ON JSE AND TTSE
Greater volumes More frequent trading Smoo
ther price changes Tracks closely to J prices
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CROSS LISTED STOCK PRICE DIFFERENTIAL WILL BE
ARBITRAGED AWAY OVER TIME
Source JMMB Securities Analysis
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JMMB GROWTH CONTINUESCommunity Involvement
August Town Pilot Project CUMI programme in
Montego Bay Worldwide lessons in leadership
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JMMBs BALANCE SHEET 2004

• Assets growing at a 25 annual average
• One of the largest capital base in the industry
  at 4 billion

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JMMBs INCOME STATEMENT 2004

• Operating profit up 50 over the previous year
• Overall profit up 49
• Administrative cost up 20 compared to a 70
  growth in pervious financial year

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JMMBs CASH FLOW STATEMENT 2004

• Cash from operations up 431
• Overall liquidity remains strong

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Who we are

• JMMB is a public listed Money Market Broker with
  more than 12 years of experience in the business
• One of our primary goals was to become the
  primer financial institution in Jamaica by
  meeting the needs of clients
• We were instrumental to the development of the
  money market in post liberalized Jamaica
• We were one of the first financial institutions
  to make the money market accessible to retail
  investors
• Over the years via our dedicated clients and our
  committed team we have grown to become one of
  the largest financial institutions in Jamaica.

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JMMB the group (Local)

• We continue to diversify our revenue base with
  the establishment of two local subsidiaries
• JMMB securities our equities division which only
  after two years JMMB securities has garnered the
  largest client base
• JMMB Insurance, our latest member to the family
  was established to meet another of or clients
  needs

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JMMB the group (Regional)

• In 2000 JMMB via a joint venture entered the
  Trinidad and Tobago market with the formation of
  CMMB. Which is fast becoming a force to reckon
  with in Trinidad
• In 2004, via a joint venture launched CMMB
  Barbados thus extending our presence in the
  Caribbean
• Earlier this year we formed a strategic alliance
  with Intercommercial Bank Ltd which represents
  our first venture in the banking industry

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