DCG IRIS Limited Event Report: Malaysian Airline flight MH370 (3472C)

TIDMIRIS

RNS Number : 3472C

DCG IRIS Limited

14 March 2014

DCG IRIS LIMITED

Event Report: Malaysian Airline flight MH370

The Company today received the following report from Credit Suisse AG ('Credit Suisse'), the investment manager of CS IRIS Low Volatility Plus Fund Limited (the 'Master Fund'), in which the Company invests substantially all of its assets.

Opinions expressed in the report are those of Credit Suisse AG.

"Malaysian Airlines flight MH370 disappeared last Saturday on its way from Kuala Lumpur to Beijing. All search efforts so far have been fruitless. Air traffic controllers had lost communication shortly after the take-off and the pilots did not send an SOS call from the plane before it disappeared from radars. As certain information had indicated that the plane may have turned back after contact was lost, search efforts spanned from the Andaman Sea/Malacca Strait (west of Malaysia) to the Gulf of Thailand/South China Sea (east of Malaysia). Dozens of ships and planes from several nations have participated in the search.

The Boeing 777-200 was carrying 12 crew members and 227 passengers from 14 nationalities. Two thirds of passengers were Chinese. While initial information hinted at a possible terrorist plot due to two passengers on board with stolen passports, this was not confirmed and the cause of the disappearance is still unknown and will remain so until debris of the wreckage can be found and examined.

The insurance loss for the aircraft hull is currently estimated to be $100m. Liability payments for passengers could reach up to $500m depending on the nationality and actual cause of the incident. As such, total insurance losses will likely be between $500m and $600m.

The CS IRIS Low Volatility Plus Fund Ltd. has no exposure to aviation risk and we do not expect an impact on performance.

We will keep you updated of any significant developments. Please do not hesitate to contact us if you have any questions."

For further information please contact:

Dexion Capital (Guernsey) Limited

+44 (0) 1481 743940

Christopher Copperwaite

Dexion Capital plc

+44 (0) 20 7832 0900

Robert Peel

Media Enquiries:

Anthony Payne and Max Hilton

Peregrine Communications