Investor Relations

Dear Sir/Ma,

LETTER OF APPRECIATION TO OUR ESTEEMED SHARE HOLDERS

On behalf of the Board of Directors, Management and Staff of Chams Plc I wish to express my appreciation to you-our esteemed shareholder for your support and contributions to our organization. Our Company has evolved and transformed into a mega solutions provider through your continuous and unwavering support. In the year just ended, we have been able to create diverse business lines while sharpening the existing ones.

The ChamsAccess Limited has been created and runs as a fully independent subsidiary. The company deploys Self service Kiosks (ChamsAccess Terminals), Automated Teller Machines (ATMs) and customized boots. The e-branch concept (boot, ATMs and ChamsAccess Terminals) has been a major boost with very massive potentials with the banks. Chief Segun Osunkeye sits as the Chairman of the Board of directors of ChamsAccess.

In our drive to be the leading provider of Innovative and beneficial technologies, we have also created the ChamsSwitch as fully independent subsidiary. ChamsSwitch is a commissioned payment platform that combines convenience and security. Arrangements are at advanced stage for 22 banks in the country to ride on this network. Through the ChamsSwitch, we intend to capture the massive e-payment/transaction opportunities that are still not well tapped in our economy. ChamsSwitch has Board of Directors chaired by Chief J.O Sanusi that managers its affairs.

In our effort to dominate in the e-payment, Identification and transactional systems, your company has created the world’s largest digital mall-The ChamsCity as verified by the Guinness Bok of Records. ChamsCity is an on-line mall housing over 1,000 fully networked PCs with state of the art technology for recruitment, identity registration and database management as well as other functions. Two ChamsCity Centers have already gone live in Lagos and Abuja. By June, 2009, would have created 9 ChamsCity Centres round the country at Ibadan, Enugu, Benin Port-Harcourt, Kano, Lagos 2 and Abuja 2.

In the year under review, we have also created ChamsMobile, Chams.net and ChamsWallet which are all work in progress. We have made further investments in our subsidiaries-The Supercard Limited, Cardcentre Nigeria Limited and Paymaster Limited.

As part of our commitment towards ensuring the afore-mentioned expansion strategies, your company embarked on a private placement which turned out very successful. Presently, we are listed on the Nigerian Stock Exchange. Your company has always taken pride as a Nigerian Company with global standards. In recognition of this effort, we were awarded the ISO 9001:2000 Certificate for Quality Management Systems by the Standards Organization of Nigeria.

We presently parade a very robust management team with top notch expatriates under our employment. We have re-engineered our workforce to match our ever growing thirst for international standards. Our Board of Directors led by Rt. Revd (Prof) Bayo Akinde  has continuously strived to achieve the envision statement of Chams which is to become the leading provider of innovative and beneficial technologies that improve quality of life.

As we usher in the new business year, we reiterate our commitment to you on great returns on your investments. We are very optimistic at the new year more especially as our business lines and foundations have been solidly built.

Towards this end, we humbly solicit for your continuous and unalloyed support as we work towards creating and sustaining value to you-our esteemed shareholder.

Thank you and God bless

Yours truly,

Demola Aladekomo

Managing Director

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