Listing Announcement

The Cayman Islands Stock Exchange hereby admits the following securities to listing:

Effective Date:8-Jul-2005
Name of Issuer:Lion Fund Limited, The
Description:Up to 89,990,000 Participating Redeemable Preference Shares of US$0.01 par value each.


Series 7


Type of Issue: Primary listing of an open-ended mutual fund

From: 1:00 p.m. on 8 July 2005

Copies of the listing document may be obtained during normal business hours at the offices of the Exchange.