ST.GEORGE’S, GRENADA, MARCH 16, 2009_ The International Center for Settlement of Investment Disputes in Washington DC, (ICSID), has ruled in favour of Grenada, in its dispute with RSM Production of Jack Grynberg. In its ruling, handed down on March 13th 2009, the Tribunal dismissed all substantive claims made by RSM, including the company’s claims of interests. The tribunal declared that Grenada did not breach any of its obligations to RSM Production, under an agreement signed on July 4th 1996, in failing to issue an exploration license, since this obligation lapsed on 28th March, 2004. The ICSID ruling noted that the agreement of 1996, was lawfully terminated on July 5th 2005. ICSID ruled that both the Claimant and the Respondent should bear their individual costs in full, while each side in the dispute should bear 50% of the costs to ICSID. The ruling now clears the way for Grenada to take full advantage of its maritime resources, once the maritime boundary negotiations with Trinidad and Tobago are concluded. The Grenada Government will address the Tribunal’s ruling on Tuesday at a media briefing. From Office of the Prime Minister INSIDE GRENADA NEWS