This is to advise that during the month of January 2008, Cayman National Corporation

bought back 20,346 shares at an average price of US$3.86, which were cancelled.

In addition, a total of 4,735 shares at a price of US$3.96 were bought for the purpose of

its Staff Share Purchase Scheme.

Signed:

Patricia Estwick, CPA

Chief Financial Officer

Cayman National Corporation