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Kingsway International Holdings Limited Restatement of Balances for FirstThree Quarters of Fiscal Year 2009

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^{Published in Business and Finance on Monday, September 21st 2009 at 20:46 GMT by Market Wire}  

 Consolidated balance sheet As at September 30, 2008 As previously Adjust- As reported ment restated US$ US$ US$ ('000) ('000) ('000) Convertible debentures - liability component (6,678) 585 (6,093) Equity component of convertible debentures (350) 350 - Financial derivative liabilities - (933) (933) Accumulated loss 4,435 (2) 4,433 Consolidated statement of operations Three months ended September 30, 2008 As previously Adjust- As reported ment restated US$ US$ US$ ('000) ('000) ('000) Loss on fair value changes on financial derivative liabilities - (3) (3) Interest expense (56) 5 (51) Loss for the period (9,203) 2 (9,201) US$ US$ US$ Loss per share (basic) (0.1148) 0.0001 (0.1147) Loss per share (diluted) (0.1148) 0.0001 (0.1147) Consolidated balance sheet As at December 31, 2008 As previously Adjust- As reported ment restated US$ US$ US$ ('000) ('000) ('000) Convertible debentures - liability component (5,832) 469 (5,363) Equity component of convertible debentures (350) 350 - Financial derivative liabilities - (139) (139) Accumulated loss 10,961 (687) 10,274 Accumulated other comprehensive income (388) 7 (381) Consolidated statement of Three months ended Six months ended operations December 31, 2008 December 31, 2008 As As previously Adjust- As previously Adjust- As reported ment restated reported ment restated US$ US$ US$ US$ US$ US$ ('000) ('000) ('000) ('000) ('000) ('000) Gain on fair value changes on financial derivative liabilities - 728 728 - 725 725 Interest expenses (262) (43) (305) (318) (38) (356) Loss for the period (6,713) 685 (6,028) (15,916) 687 (15,229) US$ US$ US$ US$ US$ US$ Loss per share (basic) (0.0837) 0.0085 (0.0752) (0.1985) 0.0086 (0.1899) Loss per share (diluted) (0.0837) 0.0085 (0.0752) (0.1985) 0.0086 (0.1899) Consolidated balance sheet As at March 31, 2009 As previously Adjust- As reported ment restated US$ US$ US$ ('000) ('000) ('000) Convertible debentures - liability component (5,666) 426 (5,240) Equity component of convertible debentures (350) 350 - Financial derivative liabilities - (5) (5) Accumulated loss 11,126 (773) 10,353 Accumulated other comprehensive income (282) 2 (280) Consolidated statement of Three months ended Nine months ended operations March 31, 2009 March 31, 2009 As As previously Adjust- As previously Adjust- As reported ment restated reported ment restated US$ US$ US$ US$ US$ US$ ('000) ('000) ('000) ('000) ('000) ('000) Gain on fair value changes on financial derivative liabilities - 116 116 - 841 841 Interest expenses 187 (404) (217) (505) (68) (573) Loss for the period (165) 86 (79) (16,081) 773 (15,308) US$ US$ US$ US$ US$ US$ Loss per share (basic) (0.0020) 0.0010 (0.0010) (0.2005) 0.0096 (0.1909) Loss per share (diluted) (0.0020) 0.0010 (0.0010) (0.2005) 0.0096 (0.1909)