RNS Number:2643E
AIM
08 June 2006


          ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH AIM RULE 2

ALL APPLICANTS MUST COMPLETE THE FOLLOWING:

COMPANY NAME:
IRF European Finance Investments Ltd.
COMPANY ADDRESS:
Canon's Court

22 Victoria Street

Hamilton
COMPANY POSTCODE:
HM12
COUNTRY OF INCORPORATION:
Bermuda
COMPANY BUSINESS OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY TO BE DISCLOSED IN
ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (J) OF THE AIM RULES:
IRF European Finance Investments Ltd. intends to invest in the financial services industry in Europe but with a
primary focus on credit institutions and insurance companies in Greece, Bulgaria, Romania and Turkey or other
countries in Southern Europe.
DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury shares):
Common shares of $0.0015 each

Number of common shares:

Existing                                               57,291,675

Number of warrants

Existing                                               91,666,680
CAPITAL TO BE RAISED ON ADMISSION:
None
FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS:
Angeliki Frangou - Chairman, Director

Andreas Vgenopoulos - Deputy Chairman, Director

Georgios Kintis -Chief Executive Officer, Director

Sheldon Goldman - Non-executive Director

John Karakadas - Non-executive Director

Alexander Meraclis - Non-executive Director

Dennis Malamatinas - Non-executive Director


PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL
BEFORE AND AFTER ADMISSION:
Ordinary shares






                                                                       After

Morstan Nominees Ltd                                                   20.9%

Angeliki Frangou                                                       15.7%

Andreas Vgenopoulos                                                    15.4%

New Smith                                                               5.1%

Amaranth LLC                                                            4.4%

Funds controlled by York Investment Ltd. and its affiliates             7.3%

North Sound Legacy International Ltd.                                   3.1%



Warrants




                                                                      After

Morstan Nominees Ltd                                                  26.2%

Angeliki Frangou                                                      12.6%

Andreas Vgenopoulos                                                    7.3%

New Smith                                                              6.3%

Funds controlled by York Investment Ltd and its affiliates             9.1%

North Sound Legacy International Ltd.                                  3.9%

NCB Trust Limited                                                      3.6%

Goldman Sachs International Nominee                                    3.2%




NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES:
N/A
ANTICIPATED ACCOUNTING REFERENCE DATE:
31 December
EXPECTED ADMISSION DATE:
To follow
NAME AND ADDRESS OF NOMINATED ADVISER:
Collins Stewart Limited, 9th Floor, 88 Wood Street, London EC2V 7QR
NAME AND ADDRESS OF BROKER:
Collins Stewart Limited, 9th Floor, 88 Wood Street, London EC2V 7QR
DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT
THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
The Admission Document will be available from the offices of Collins Stewart Limited, 9th Floor, 88 Wood Street,
London EC2V 7QR and will contain full details about the applicant and the admission of its securities
DATE OF NOTIFICATION:
8 June 2006

NEW/ UPDATE (see note):
New





                      This information is provided by RNS
            The company news service from the London Stock Exchange
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