17 JUNE 2009

Nominations for the Committee of Inspection

As referred to in Section 1.8 of the letter to creditors dated 10 June 2009, the following nominations have been received in respect of the Committee of Inspection:

Nigel Smith

I am a retail depositor with about £98,000 and $430,000 at risk and have been involved with collating questions from depositors who post queries on the Depositor Action Group website to Mike Simpson (latterly Liquidator Provisionally, now Liquidator) on bi-weekly calls. While I have not sought or hold proxy votes for other creditors, I believe that I have been involved and provided a useful function to retail depositors who are looking for specific answers and also to the LP in helping reduce the amount of similar questions directed at his offices over the last 6 months.

I am 38 years old and a Chief Marketing Officer of a large technology company based in the UK.

Axa Isle of Man Limited

AXA Isle of Man Limited is a wholly owned subsidiary of the AXA group and has been offering offshore insurance products on the Isle of Man since 1992. It is one of the leading offshore insurance companies offering products into the UK market. AXA Isle of Man Limited understands the offshore financial market and its customer base and, after the collapse of Kaupthing Singer & Friedlander (Isle of Man) Limited, has worked with other insurance creditors to secure the solution that best suited its policyholders. AXA Isle of Man Limited has also held talks with other interested creditors and freely exchanged views as to the best way forward, not always in agreement, but always with the aim of maximising the return to creditors.

Gavin Brake

Commentary to be updated

Stuart Roberts

Commentary to be updated

Singer & Friedlander (Isle of Man) Limited Retirement Benefits Scheme

Commentary to be updated