""

Required Report - public distribution

**Date:** 11/21/2003

**GAIN Report Number:** JM3008

JA3008

**Jamaica & Dep**

**Retail Food Sector**

**Report**

**2003**

**Approved by:**

![](media/image1.wmf)David G. Salmon

U.S. Embassy

**Prepared by:**

Sylburn Thomas

**Report Highlights:**

Despite modest contraction during 2003, the Jamaican retail food sector
remains attractive for imported high-value products.

Includes PSD Changes: No

Includes Trade Matrix: No

Unscheduled Report

Santo Domingo \[DR1\]

\[JM\]

**RETAIL FOOD SECTOR REPORT**

**I. MARKET OVERVIEW**

Businesses within the Jamaican retail food sector are differentiated on
the bases of service, quality, price and convenience, giving rise to a
retail sector structurally composed of: upscale and conventional chain
and independent supermarkets, wholesalers, independent grocers, small
convenience stores (mini-marts) and gas marts. Supermarkets and
wholesalers collectively account for approximately 71 percent of total
food and beverage sales in the Jamaican retail food sector. Gas marts,
the most recent addition to the Jamaican retail food sector, carry a
limited number of snack products, pastries, dairy products, juices,
drinks and other ready-to-eat products. They account for only a
minuscule portion of total sales in the food retail market. Small
independent grocers are mostly located in rural towns and less
attractive segments of urban areas.

Modest growth in the Jamaican economy over the last three years (2001 --
2002), increasing remittances from abroad and increases in personal
consumption credits have contributed to an average annul four percent
growth in the food retail sector over the last three years. These
factors are expected to continue fueling moderate growth in the sector
over the medium-term. There are approximately 1,486 retail and 162
wholesale outlets in the Jamaican food and beverage distributive
sub-sector, collectively accounting for a total sales of approximately
US\$800 million during 2002. Sales by retailers decreased by a
substantial 8.5 percent during 2002, sharply contrast the 7.9 percent
expansion in sales by wholesalers. The decline in retail sales, which
account for approximately 62 percent of total food and beverage sales,
resulted in a 2.2 percent decline in total food distributive sales
during 2002. With aggressive repositioning of major local supermarket
chains and the entry of foreign chains, sales by retailers are expected
to rebound during 2003.

Despite modest growth, competition in Jamaica's food retail sector among
retailers and between retailers and wholesalers is expected to remain
strong. The characteristic negative correlation between wholesale and
retail sales is largely explained by the influence of short-term
reactive marketing tactics by retailers and wholesalers.

The Jamaican retail food sector has experienced significant structural
changes over the last five years, resulting primarily from domestic
competition, macroeconomic constraints, changing consumer lifestyles and
adoption of new technologies. The main changes in the sector are:

i.  The increasing direct importation by wholesalers and large
    independent and chain supermarkets.

ii. The forming of strategic alliances among local food retailers and
    between local and foreign retail chains.

iii. Large supermarket chains are differentiating and positioning
     according to consumer lifestyle and purchasing power.

iv. The adding of complementary strategic business units (SBUs) to core
    food retail operations.

v.  Application of electronic payment and inventory management systems.

Large and medium supermarkets and wholesalers have commenced aggressive
direct importation to avoid distributor's margin and offer more
price-competitive products in the price-sensitive Jamaican consumer
market. Brand recognition has become secondary to perceived value
(price-quality relationship) in the majority of Jamaican consumers
buying decisions. Adherence to international food safety standards is
also gaining importance in purchase decisions. To remain competitive,
most retail outlets are offering products at wholesale prices to
increase volume. To protect market share, wholesalers have retaliated by
targeting end (retail) consumers, blurring the distinction between
retail and wholesale operations. The entry of PriceSmart into the
Jamaican retail market with a 50,000 Square-foot superstore and the
expansion of other major supermarket chains are interpreted as a signal
of increasing price competition in the retail market.

Faced with heavy competition and increasing economies of scale within
the retail market, independent supermarkets are either collaborating to
promote, procure and improve management, or are expanding the number and
size of stores in order to remain competitive. Supermarkets are
expanding into rural towns and previously \"unserved\" geographic
segments of the corporate and resort areas. Seven of Jamaica's
independent supermarkets, with a complement of fourteen stores, have
formed alliance to strengthen their competitive position in the retail
food sector - particularly to compete with the largest and rapidly
expanding supermarket chains, HiLo and SuperPlus Food Stores.

Larger supermarkets are adding independent strategic business units to
their core food retail operations to either diversify their business
portfolio, retain/increase customer base, or offer improved customer
service and convenience. Several supermarkets have or plan to include
one or more of the following: haberdasheries, gift shops, restaurants,
delicatessens, bakeries and pharmacies as part of their retail
operations. Electronic bill payment and money transfer outlets, and
automatic banking machines are strategically located adjacent to or
inside supermarkets. The recently computerized Jamaican postal service
is seeking alliance with supermarkets to include mailing services as
part of regular supermarket augmentations. Almost all supermarkets and
convenience stores in Jamaica offer electronic payment services through
the electronic "multi-link" banking network. The major supermarket
chains and gas marts are equipped with bar code reading devices to
improve inventory management and efficiency. As personal consumption
credit continues to be by way of credit cards, supermarkets are expected
to increase market share at the expense of smaller independent grocers
(mom and pops) and remain the primary means of food distribution to end
consumers.

Jamaican supermarket chains are increasingly interested in forming
alliances with foreign retail chains. Two of Jamaica's largest retail
chains have formed alliances with Lablaws, Canada's largest food retail
chain, and Tesco from the United Kingdom, for the exclusive distribution
of a number of brands, such as: President's Choice, No Name and Too Good
To Be True. PriceSmart has entered the Jamaican market in partnership
with the proprietors of a major U.S. fast food franchise. Other
supermarkets are interested in alliance with U.S. food retail stores.

Ongoing liberalization in the domestic economy, the maintenance of a
relatively stable exchange rate and domestic supply shocks have
encouraged many firms in the food and beverage retail sector to increase
the imported content of their aggregate merchandise, including; fresh
fruits and vegetables, grocery products, meats and processed products.

####### Value of Imported and Domestic Food Production

  ---------- -------------- -------------------- -------------------------
  Years      Food &                              
             Beverage (US\$                      
             Million)                            

             Imports\*      Domestic             Manufactured\*\*\*
                            production\*\*       

  2001       450            795                  371

  2000       425            774                  355

  1999       440            803                  353

  1998       472            835                  345

  1997       433            843                  349
  ---------- -------------- -------------------- -------------------------

\* Excluding Tobacco, live animals for food, sugar & preparations, hides
& Skins, and feedstuff for animals

\*\*Excluding export agriculture (sugar cane & other main exports);
about 11% of total production

\*\*\*Exclude sugar, molasses & rum, about 8.5% of manufactured foods.

Over the last five years Jamaica's total production of food (excluding
primary export crops) declined by 5.7 percent from US\$843 million
during 1997 to US\$795 million during 2001. Simultaneously, consumption
increased by an average annual 7.6 percent over the corresponding
period. Manufactured (processed) food and beverage has consistently
increased its relative contribution to total food production (net of
primary export crops), moving from 41 percent during 1997 to 47 percent
during 2001. Using the ratio of net imports (imports less re-exports) to
domestic food production (excluding primary export crops) as a proxy for
the relationship between imported and domestic food consumption, Jamaica
continues to fulfill a greater proportion of its consumption demand from
imported products. During 2001, imported food and beverage constituted
an estimated 56.6 percent of Jamaica's total food and beverage
consumption, an increase of 5.2 percentage points from 51.4 percent
during 1997. The United States is the primary supplier of food and
beverage to Jamaica, accounting for approximately 49 percent of total
food and beverage imported into Jamaica. As the policy-driven structural
shift in the Jamaican economy from the productive to the service sector
continues into the short to medium-term, imported products are expected
to continue accounting for an increasing proportion of Jamaica's total
food consumption.

Some of the advantages and challenges facing U.S. products in the
Jamaican market are summarized below.

+----------------------------------+-----------------------------------+
| **Advantages**                   | **Challenges**                    |
+----------------------------------+-----------------------------------+
| The proliferation of internet    | Eroding consumer disposable       |
| and cable television has         | income and a relatively stagnant  |
| increased the impact (in the     | retail sector restrict demand for |
| Jamaican market) of U.S. product | high-value imported specialty     |
| advertised through these media.  | products.                         |
|                                  |                                   |
| Changing Jamaican consumer       | Onerous sanitary / phytosanitary, |
| lifestyles have created demand   | labeling and other standards,     |
| for ready-to- eat products that  | frustrate the importation of food |
| are not readily available from   | products.                         |
| domestic production.             |                                   |
|                                  | High import duties and            |
| Declining employment of women in | inefficient customs procedures    |
| the workforce could increase     | reduce the price competitiveness  |
| retail sales at the expense of   | of imported products.             |
| meals-away-from-home.            |                                   |
|                                  | Duty free entry of grocery        |
| Increased direct importation by  | products from other CARICOM       |
| wholesalers and large chain      | countries and low priced products |
| supermarkets creates the         | from Europe and Canada are        |
| opportunity for alliances        | eroding U.S. market share.        |
| between U.S. and Jamaican retail |                                   |
| chains.                          | Strategic alliances between       |
|                                  | Jamaican outlets and European and |
| Jamaica's relatively             | Canadian retail firms, bolstered  |
| sophisticated retail system is   | Canada's and Europe's position in |
| equipped to effectively handle   | the Jamaican retail food market.  |
| frozen processed and             |                                   |
| ready-to-eat products, fruits    |                                   |
| and vegetable and other highly   |                                   |
| perishable products.             |                                   |
|                                  |                                   |
| Ongoing modernization of Jamaica |                                   |
| Customs Department and upgrading |                                   |
| of the food regulatory system    |                                   |
| will increase market access for  |                                   |
| U.S. high-value products in the  |                                   |
| medium-term.                     |                                   |
+----------------------------------+-----------------------------------+

**II. ROAD MAP FOR MARKET ENTRY**

**A. SUPERMARKETS**

**Entry Strategy**

Despite increasing direct importation by medium and large supermarket
chains, the best way to enter the Jamaican retail market is still
through a local distributor. Most supermarkets lack adequate storage
facilities to handle high volume purchases and typically purchase lower
volumes at more frequent intervals. The relative proportion of direct
imports to total imported merchandise in supermarkets is less than five
percent. In addition, no single supermarket chain captures more than a
15 percent share of Jamaica's retail food market. To gain maximum
penetration of the overall retail market it is best to use a local
distributor. Exclusive distributorship arrangements and collaborative
product promotion can give U.S. products a distinct advantage in the
Jamaican retail food sector. There is also the opportunity for U.S.
retail chains with branded products to form alliances with Jamaican
supermarkets. Stringent sanitary / phytosanitary and other regulations
which frequently frustrate the import process will be drastically
reduced by the Government\'s thrust to modernize and improve efficiency
in its food safety and inspection system. This will encourage more
supermarkets and wholesalers to engage in direct importation.

#### Market Structure

The structure of Jamaica's retail food sector is relatively simple.
Supermarkets procure majority of merchandise (approximately 97 percent
of imports) from local import distributors. Domestic products are
sourced from local food processors and independent farmers. Importers of
fresh produce and grocery products also supply local, and private
labeled products. Supermarkets typically do not procure products from
wholesalers.

**Company profile: Supermarkets**

  ------------- --------------- ----------- ----------- --------------------- --------------
  **Retail name **Ownership**   **Sales**   **No. of    **Locations (city /   **Purchasing
  & Outlet                                  Outlets**   region)**             Agent Type**
  Type**                                                                      

  Progressive   Jamaican        N/A         14          Kingston, Montego     Direct,
  Grocers                                               Bay, Mandeville       Importer

  HiLo Food     Jamaican        N/A         9           Kingston, Mandeville, Direct,
  Stores                                                Montego Bay           Importer

  Lee's Food    Jamaican        N/A         3           Kingston              Importer
  Fair                                                                        

  Family Pride  Jamaican        N/A         1           Kingston              Direct,
                                                                              Importer

  SuperPlus     Jamaican        N/A         Over 23     Island wide           Direct
  Food stores                                                                 Importer
  ------------- --------------- ----------- ----------- --------------------- --------------

**B. CONVENIENCE STORES. GAS MARTS, KIOSKS**

In the Jamaican retail sector, gas marts and mini-marts function as
convenience stores, retaining their position by virtue of location and
time of operation.

###### Entry Strategy

The best way to introduce products to convenience stores, including gas
marts, is through a local distributor. Logistical procedures and
purchase volume preclude convenience stores from engaging in direct
importation.

**Market Structure**

Gas marts are located in Esso, Shell, National and Texaco service
stations in corporate and resort areas, rural towns and along highways.
They stock an array of snack foods, dairy products, pizza, juices and
drinks, and other ready-to-eat products. They operate on a 24-hours
basis and are equipped with bar code reading devices and electronic
payment systems, consistent with their service differentiation. National
gas station, through its alliance with Churches Chicken, has begun to
offer the franchise's products at its service stations. Mini-marts are
typically located in close proximity to middle income residential
neighborhoods. They operate very late hours and on public holidays. They
know their customers very well, build individual relationships and offer
friendly, personalized service (eg. telephone orders and home delivery).
Mini-marts stock a wide array of products in very small quantities. With
the exception of gas marts, convenience stores do not operate as chains.
Convenience stores procure products from large distributors, informal
commercial importers and, to a lesser extent, large wholesalers.
Convenience stores account for an estimated two percent of total retail
sales.

###### Company Profile: Convenience stores

  ------------ --------------- ----------- ----------- --------------- --------------
  **Name of    **Ownership**   **Sales**   **No. of    **Locations**   **Purchasing
  Retailer**                               Outlets**                   agent**

  Esso Tiger   Local           N/A         7           Island wide     Distributor
  Markets                                                              

  Texaco Star  Local           N/A         15          Island wide     Distributor
  Marts                                                                

  Shell Gas    Local           N/A         4           Island wide     Distributor
  Mart                                                                 

  Vanda's      Local           N/A         1           Kingston        Distributor

  Daley        Local           N/A         1           Westmoreland    Distributor /
  Mini-mart                                                            Wholesaler
  ------------ --------------- ----------- ----------- --------------- --------------

**C. TRADITIONAL MARKETS - \"MOM AND POP\" SMALL INDEPENDENT GROCERY
STORES AND WET MARKETS**

**Entry Strategy**

As with supermarkets and convenience stores, new products are best
introduced to independent grocery stores through a local distributor.
While local importing wholesalers and informal commercial importers
(ICI's) supply most of the traditional market segment, individual
wholesalers and ICI's lack the necessary distribution networks and
storage capacity to effectively serve a wide cross section of the
market. In addition, wholesalers are not involved in building brand
identity and loyalty. Small independent grocers typically make bulk
purchases from wholesalers who in turn pull the demand from local
distributors and exporters. Conversely, established distributors are
inclined to build brand image/loyalty among end consumer and facilitate
pulling-pushing demand through the retail chain.

**Market structure.**

The market structure for the traditional markets segment (small
independent grocers) is identical to that of convenience stores, except
that the proportion of merchandise procured from, and relationship with,
wholesalers is much greater. Small independent groceries, which operate
mostly in rural areas and socially unstable sections of the corporate
areas (Kingston, St. Andrew and Spanish Town), have been the hardest hit
by changes in the retail sectors. As competition intensifies in the
retail food sector, large supermarket chains continue to expand into
rural towns and other \"unserved\" geographical areas eroding the market
share of independent grocers. In addition, as Jamaican consumers
continue to demand better service, rely on consumption credits and
remittances, small independent groceries, which typically does not have
alliance with remittance companies and lack the capacity to use
electronic payment systems, will continue to lose market share to
supermarkets, becoming less relevant in the retail food sector. The
traditional system is expected to be substantially displaced by
supermarkets in the medium to long-term.

**III. COMPETITION**

CARICOM countries, particularly Trinidad and Tobago and Guyana, continue
to increase their relative share of the Jamaican food retail market.
Under the CARICOM Agreement, member states have duty free access to
markets in the CARICOM free trade area. Australia and New Zealand are
the major competitors to U.S. beef, lamb and dairy products. Chile,
France, Italy and Spain are the major competitors for U.S. wines. French
fries from the U.S. have lost market share to price competitive products
from Canada and the Netherlands. Domestic products are the major
competitor for U.S. fruits and vegetables.

Between 1998 and 2000, U.S. share of imported food and beverages slid by
two percentage points from 48% to 46%. At the same time, as a result of
duty free entry, Jamaica's major CARICOM trading partners (Guyana and
Trinidad and Tobago) increased their relative contributions of CARICOM
export to Jamaica by 26 and 6 percentage points, respectively. With the
market becoming more price sensitive and brand loyalty becoming less
relevant to purchase decisions, U.S. suppliers will have to revise their
pricing and promotion strategies to compete with products from Canada,
Europe, Chile and CARICOM.

**IV. BEST PRODUCTS PROSPECTS**

The Jamaican food retail sector presents good marketing opportunities
for U.S. meat products, including mutton and seafood; breakfast cereals
and cereal products; juices and drinks; fruits and vegetables; vegetable
oils; snack foods, bakery products, frozen products including French
fries and other ready-to-eat products such as pizzas, hamburgers and
soups, wines, dairy products, health foods (including soy products and
nutritional supplements).

During 2001, Jamaica imported US\$111 million worth of cereals and
cereal preparations, a slight increase from US\$109 million during 2000.
Imported vegetable oils and fats amounted to US\$17 million. Jamaica has
a market potential for pastas and bakery products of approximately
850,000 and 1.2 million kilograms per year, respectively. The demand for
fruits and vegetable juices and drinks will continue to expand. As the
recent national policy initiative to educate consumers on health and
nutrition intensifies across Jamaica, consumption of health foods is
expected to increase astronomically in the short to medium-term. Despite
high import duties, fruits and vegetables will continue to have good
market potential in Jamaica due to short, uncoordinated local growing
periods and a local climate unsuitable for some varieties (apples,
grapes, etc.).

**Products Not Present because they Face Significant Barriers**

The presence of Pseudorabies in the U.S. prohibits the entry of U.S.
pork products into Jamaica unless they are hermetically sealed. Apart
from products that require sanitary / phytosanitary permits, there are
no barriers to the Jamaican market. However, high import duties (as high
as 260%) render some products uncompetitive in the market.

**V. POST CONTACT AND FURTHER INFORMATION**

Foreign Agricultural Service

U.S. Embassy

Mutual Life Center - 1^st^ Floor

2 Oxford Road

Kingston 10

JAMAICA

Telephone: (876) 920 - 2827

Fax: (876) 920 - 2580

email: agkingston@usda.gov

Other reports on the Jamaican market are located at including;

the "Exporter's Guide\" and \"HRI Food Service Sector\".

APPENDIX I

MAJOR FOOD AND BEVERAGE IMPORTERS/DISTRIBUTORS IN JAMAICA

+-----------------------------------+-----------------------------------+
| Bram Stroot                       | Mark Dabdoub                      |
|                                   |                                   |
| Managing Director                 | Managing Director                 |
|                                   |                                   |
| Amalgamated Commodities Ltd.      | Amalgamated Distributors Ltd.     |
|                                   |                                   |
| 4 Fourth Street                   | 194 Spanish Town Road             |
|                                   |                                   |
| Newport West                      | Kingston 11                       |
|                                   |                                   |
| Kingston 15                       | Tel:(876) 937 0251/3889           |
|                                   |                                   |
| Tel: (876) 968-2740               | Fax: (876) 937 3321               |
|                                   |                                   |
| Fax: (876) 901 8125               | Shelly-Ann Josephs                |
|                                   |                                   |
| Paul Morgan                       | Managing Director                 |
|                                   |                                   |
| Managing Director                 | Caribbean Producers Ja. Ltd.      |
|                                   |                                   |
| Beal Industries Ltd.              | 1 Guinep Way                      |
|                                   |                                   |
| 2 Bell Road                       | Montego Bay Freeport              |
|                                   |                                   |
| Kingston 11                       | Montego Bay, ST. James            |
|                                   |                                   |
| Tel: (876) 923-6513               | Tel:(876) 979 8725                |
|                                   |                                   |
| Fax: (876) 759-9057               | Fax:(876) 979 8161                |
|                                   |                                   |
| Gordon Stewart                    | ### E-mail: [info@cari            |
|                                   | bbbeanproducers.com]{.underline}  |
| General Manager.                  |                                   |
|                                   | ###                               |
| Facey Commodity                   |                                   |
|                                   | ### Raymond Silvera               |
| 61 Newport Boulevard              |                                   |
|                                   | ### General Manager               |
| Kingston 11                       |                                   |
|                                   | ### Chas E. Ramson Ltd.           |
| Tel: (876) 923 9221/5             |                                   |
|                                   | ### 449 Spanish Town Road         |
| Fax:(876) 923 9322                |                                   |
|                                   | ### Kingston 11                   |
| Anthony Chang                     |                                   |
|                                   | ### Tel: (876) 923-7247/ 5051-4   |
| Managing Director                 |                                   |
|                                   | ### Fax:(876) 923- 5055           |
| Falcon Corp                       |                                   |
|                                   | ### E-mail: [si                   |
| 111 Red Hills Road                | lvera@ramsonsja.com]{.underline}  |
|                                   |                                   |
| Kingston 19                       | ### Michael Rangling              |
|                                   |                                   |
| Tel:(876) 924 1151-3              | ### General Manager               |
|                                   |                                   |
| Fax:(876) 925 2649 E-mail:        | ### Grace Kennedy & Co. Ltd.      |
| [avcfal@infochan.com]{.underline} |                                   |
|                                   | ### 73 Harbor Street              |
| Charles W. Lym                    |                                   |
|                                   | ### Kingston                      |
| Managing Director                 |                                   |
|                                   | ### Tel:(876) 922 3440-9          |
| Hand Arnold (Ja.) Ltd.            |                                   |
|                                   | ### SL:(876) 922 3419             |
| 154 Marcus Garvey Drive           |                                   |
|                                   | ### Fax:(876) 967-3784            |
| Kingston 11                       |                                   |
|                                   | ###                               |
| Tel:(876) 923 8637-9              |                                   |
|                                   | ###                               |
| Fax:(876) 937 1925                |                                   |
|                                   | ###                               |
|                                   |                                   |
|                                   | ###                               |
+-----------------------------------+-----------------------------------+

+-----------------------------------+-----------------------------------+
| Wayne kirkpatrick                 | David Phillips                    |
|                                   |                                   |
| General Manager                   | Managing Director                 |
|                                   |                                   |
| Lascelles Merchandise Ltd.        | National Meats Distributors Ltd.  |
|                                   |                                   |
| 49-57 Second Street               | 1 National Way                    |
|                                   |                                   |
| Newport West                      | Ocho Rios P.O.                    |
|                                   |                                   |
| Kingston 11                       | St. Ann                           |
|                                   |                                   |
| Tel:(876) 923 9231-3              | #                                 |
|                                   | ## Tel:(876) 973 1616 / 973 1223  |
| Fax:(876) 901 3550 / 923 4336     |                                   |
|                                   | ###                               |
| Desmond Blades                    |                                   |
|                                   | ### Fax:(876) 794-0705            |
| Managing Director                 |                                   |
|                                   | ##### E-mail:                     |
| Mussons Jamaica Ltd.              |                                   |
|                                   | #####                             |
| P.O. Box 96                       |                                   |
|                                   | ##### Robert Joseph               |
| 109 Marcus Garvey Drive           |                                   |
|                                   | ##### Managing Director           |
| Kingston 11                       |                                   |
|                                   | ##### Nico Distributors           |
| Tel:(876) 923 8925                |                                   |
|                                   | ##### Pimento Way                 |
| Fax:(876) 923 8903                |                                   |
|                                   | ##### Montego Bay Freeport        |
| Matthew Ziadie                    |                                   |
|                                   | ##### Montego Bay, St. James      |
| T. Geddes Grant                   |                                   |
|                                   | ##### Tel: (876) 979 8464         |
| Marketing Manager                 |                                   |
|                                   | ##### Fax:(876) 979 8465          |
| 109 Marcus Garvey Drive           |                                   |
|                                   | ##### E-mail:                     |
| Kingston                          |                                   |
|                                   | #####                             |
| SL: 923-7150                      |                                   |
|                                   | ##### Wisynco Trading             |
| Tel:(876) 923 7311-9              |                                   |
|                                   | ##### William Mahfood             |
| Fax:(876) 923 7137 / 923 8356     |                                   |
|                                   | ##### Managing Director           |
| # E-mail:                         |                                   |
|                                   | ##### White Marl                  |
| #                                 |                                   |
|                                   | ##### Spanish Town                |
| # Alexander Powell                |                                   |
|                                   | #####                             |
| # General Manager                 |  Tel:(876) 984 3983-5 / 907-0697  |
|                                   |                                   |
| # Industrial Sales Ltd.           | ##### Fax:(876) 984-4000          |
|                                   |                                   |
| # P.O. Box 721                    | # E-mail:                         |
|                                   |                                   |
| # 107 Marcus Garvey Drive         | #                                 |
|                                   |                                   |
| # Kingston 13                     | # David Hopwood                   |
|                                   |                                   |
| # Tel:(876) 923 7597 / 5356       | # Managing Director               |
|                                   |                                   |
| # Fax:(876) 757-9449              | # H.D. Hopwood & Co. Ltd.         |
|                                   |                                   |
|                                   | # 3 Carifta Avenue                |
|                                   |                                   |
|                                   | # Kingston 11                     |
|                                   |                                   |
|                                   | # Tel:(876) 923 8481-6            |
|                                   |                                   |
|                                   | # Fax:(876) 923 6351              |
|                                   |                                   |
|                                   | ### E-mail[                       |
|                                   | : info@hdhopwood.com]{.underline} |
|                                   |                                   |
|                                   | ###                               |
+-----------------------------------+-----------------------------------+