TIDMIRIS

RNS Number : 1350Q

DCG IRIS Limited

27 August 2014

DCG IRIS LIMITED

Event Report: Earthquake in California

The Company today received the following report from Credit Suisse AG ('Credit Suisse'), the investment manager of CS IRIS Low Volatility Plus Fund Limited (the 'Master Fund'), in which the Company invests substantially all of its assets.

Opinions expressed in the report are those of Credit Suisse AG.

"On 24 August 2014 a magnitude 6.0 earthquake occurred 80km north of San Francisco, California, at 3:20 am local time. The epicentre was located 8km south-southwest of Napa, a center of the California wine industry, at a depth of 11.3km, as reported by the U.S. Geological Survey (USGS). The epicentre lies between two major traces of the San Andreas fault system. This was the largest earthquake to hit the San Francisco Bay area since 1989, when a 6.9 earthquake killed 63 people and caused $6bn economic loss at that time.

Sunday's earthquake only caused injuries but no fatalities. Initial reports show damage to several buildings and infrastructure, especially in downtown Napa. Several gas and water lines were broken as a result of the earthquake, and power outages impacted around 10,000 households. Additionally, the earthquake caused damage to local wineries, with thousands of bottles broken and barrels toppled.

Based on preliminary analysis with the information available shortly after the event, we expect that insured losses are likely to be around $1.5bn. A significant share of this loss is expected to come from commercial lines as local wineries have been impacted.

Earthquake risk in California is one of the major risk classes in the reinsurance industry and the IRIS Low Volatility Plus Fund has a meaningful allocation to this risk class. However, we do not expect an impact on fund performance at currently estimated industry loss levels."

For further information please contact:

Dexion Capital (Guernsey) Limited

+44 (0) 1481 743940

Christopher Copperwaite

Dexion Capital plc

+44 (0) 20 7832 0900

Robert Peel

Media Enquiries:

Anthony Payne and Max Hilton

Peregrine Communications

Tel (Direct): +44 20 3178 6869 / +44 20 3178 6873

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLLFELTSIDFIS

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