On 20th July 2008 the shareholders of the company agreed to establish a supervisory board. This board will monitor the company's affairs, in particular with a focus on complying with domestic and international regulations, as well as reviewing trust office procedures on regular basis for compliancy and effectiveness. The member of the board will be appointed for a term of 2 years.

Candidates for the board are : Dr. oec. B. Roseno (D) Chairman

Paul Blackburn (UK)

Hermanus Maria Soembroek  (NL)

 This shareholder decision shall be filed at Companies House in Cardiff (UK) and the Dutch Chamber of Commerce in Amsterdam (NL)

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BOARD RESOLUTION OF Celtus Financial Services Ltd ADOPTED ON 25/07/2008

The undersigned, being all the directors of Celtus Financial Services Ltd, hereby sign the following amended resolutions:

RESOLVED THAT:

1) E*Trade Securities Limited has been appointed to render brokerage services for the company’s investment activities on the European markets as far as offered on E*Trades online brokerage platform.
2) The investments held at Rabobank shall be maintained, however new investment activities, in particular short term investments and derivates and long term investments outside the Netherlands shall be exclusively traded at E*Trade

H.T Roseno
[DIRECTOR NAME]