Press Release - 12 October 2005

Commission signs lease for new premises

The Jersey Financial Services Commission has agreed to lease part of a building to be built on the presently empty site at 25/26 Esplanade. The decision follows an extensive year-long review of medium to long-term premises options available to the Commission.

Dandara Holdings Limited will commence building work on the site in the next few weeks. The lease will be for a period of 21 years with a planned relocation date of May 2007.

The lease on the Commission’s current building – Nelson House in David Place - expires in June 2007.

- Ends -

For further information please contact: -

David Carse, Director General
Jersey Financial Services Commission

Tel: + 44 (0) 1534 822011
Fax:+ 44 (0) 1534 822001
Email: d.carse@jerseyfsc.org

Notes to Editors.

1. The Commission has executed the lease through a company wholly owned by it, JFSC Property Holdings No.1 Limited.

2. The primary counterparty to the lease is Castle Street (Jersey) Ltd, a wholly owned subsidiary of Dandara Holdings Limited.

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