Cayman National

Cayman National Announces Sale of Joint Venture

17 June 2010

Cayman National Corporation Ltd. announced that effective 26 May 2010, it has
sold its interest in Aon Cayman National Insurance Brokers Ltd. (ACNIB) to its joint venture partner, Aon Insurance Managers (Cayman) Ltd. (Aon).

CNC and Aon entered into the joint venture in November 2006. CNC President and Chief Executive, Stuart Dack, commented that CNC desired to focus on its core businesses of providing the financial services of banking, wealth management, trust and company administration, and fund services. "The joint venture with Aon worked well, and we will continue to have a prosperous and healthy relationship with Aon in the future."

The sale of CNC's interest in ACNIB will not have any material impact on CNC.