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Public Statement Re: Canada Trust Ltd. Grand Turk, Turks and Caicos Islands, BWI – 7 th November2012 –

The Turks and Caicos Islands Financial Services Commission (TCIFSC) considers it necessary to issue this public statement in order to protect the public interest, and the interests of any of the customers and creditors of Canada Trust Ltd, and further to make the general public aware that Canada Trust Ltd is no longer a licensee of the TCIFSC. The details are: 1. Canada Trust was issued a license to act as a Professional Trustee pursuant to the Trustee (Licensing) Ordinance on 18th July 1996. 2. Canada Trust Ltd. failed toestablish and maintain a restricted deposit in liquid assets of at least $250,000.00 in a bank approved by the Financial Services Commission pursuant to Regulation 4A of the Trustees Licensing (Amendment) Regulation 2009. 3. Canada Trust was issued a ‘Notice of Intention of Revocation of its License’, pursuant to Section 34 of the Financial Services Commission Ordinance, on 25th April 2012 for its failure to establish and maintain the deposit referred to in point 2 above. The notice allowed Canada Trust Ltd. until the 31st July 2012 to give reasons why the license should not be revoked. 4. The TCIFSC revoked Canada Trusts Ltd.’s license to act as a Professional Trustee on 1st August 2012. Canada Trusts Ltd. does not hold any license to operate as a Professional Trustee or any other financial service license issued by the TCIFSC. The TCIFSC further advises that appropriate due diligence should be conducted before engaging in any business arrangement with Canada Trust Ltd and/or any of its successors and/or any of its Principals. This Public Statement was issued pursuant to Section 39 of the Financial Services Commission Ordinance

J. Kevin Higgins Managing Director