The lawsuit alleges that Sea Containers violated federal securities laws by issuing false or misleading public statements regarding its financial results. On March 24, 2006, the Company shocked the market by announcing that it: (1) would be required to restate its financial results for the first three quarters of 2005 because it had improperly accounted for proceeds derived from stock sales; (2) that it would be forced to take an impairment charge of $10 million more than previously disclosed relating to the sale of previously overvalued shipping containers; (3) that it was selling its entire ferry division; (4) the aggregate results of these impairment charges would equal approximately $500 million; and (5) investors should no longer rely on their previously issued financial results for the first three quarters of 2005.

The market reacted sharply to this news with Sea Containers' class A share price dropping from a close of $12.06 on March 23, 2006 to a close of $7.45 on March 24, 2006, constituting a drop of nearly 38% in a single day.

If you are a member of the class, you may, no later than May 30, 2006, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member appointed by the Court to direct the litigation on behalf of the class. Although a class member need not be appointed as a lead plaintiff to receive a proportionate share of any proceeds of the litigation, lead plaintiffs make important decisions that could affect the prosecution of the class claims, including decisions concerning settlement. The securities laws create a rebuttable presumption that the plaintiff with the largest financial interest in the litigation is the most adequate to serve as a lead plaintiff.

If you bought Sea Containers Ltd. securities between May 10, 2005 and March 24, 2006, inclusive, and would like to obtain information about the Sea Containers Ltd. lawsuit, then you are invited to call (866) 467-1400 to speak with an attorney.