NATIONAL INVESTMENT TRUST

The National Investment Trust Limited (NITL) was incorporated in Malawi as a public company on 20th September 2001 with registration number 6024. The Principal objective of NITL is to provide a vehicle to facilitate broad public participation in a diverse portfolio of equity investments in Malawi. NITL has been licensed as an investment trust company by Reserve Bank of Malawi in terms of the powers vested in it by Section 35 of The Capital Market Development Act. NITL is listed on the Malawi Sto... ck Exchange (MSE), and its shares are traded on the MSE thus creating a secondary market subject to market forces. The investment portfolio of NITL will be managed with a view to providing its shareholders with a return by way of both annual income and capital growth. The Board of Directors recognizes there will always be risk present in any portfolio of investments but has adopted an investment policy which seeks to minimize that risk by avoiding speculative investment and placing limits on the extent of exposure to individual investments.

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