First Interim Client Money Distribution Update - 20 February 2013

Further to the Client Money update published on 06 February 2013 in which the Joint Administrators announced that the first interim client money distribution (the ‘First Interim Client Money Distribution’) will take place during April 2013, the Joint Administrators would like to:

• Notify you that they have now sought to contact all counterparties who, based on the information held in LBIE’s books and records and the application of the LBIE Client Money Entitlement Principles (as defined in the 24 May 2012 update), they believe have a Client Money entitlement;
• Remind you that, in order to be eligible to participate in the First Interim Client Money Distribution, beneficiaries must agree their Client Money entitlement with LBIE by executing a formal legal agreement (opting to retain their Client Money entitlement rather than waiving or assigning it) and provide their standard settlement instructions (“SSIs”) for a USD bank account; by no later than Friday 22 March 2013;
• Advise beneficiaries that are due to participate in the First Interim Client Money Distribution and potential Transferees that any Transfer Notices received by LBIE after 22 March 2013 will not be countersigned until after the distribution. The First Interim Client Money Distribution will be paid to the Client Money beneficiary according to LBIE’s records as at 22 March 2013.

Action Required

In Contact with the Administration

If you have been notified that you have a Client Money entitlement, please continue the dialogue with your LBIE contact with a view to agreeing your Client Money entitlement. This can be done by executing a formal legal agreement opting to retain, assign or waive your entitlement to Client Money, or to abandon your Client Money entitlement.

Not in Contact with the Administration

If you believe that you have a Client Money entitlement and, prior to this 20 February 2013 update, you have not been contacted by LBIE in respect of this entitlement, please contact clientpositionresponses@lbia-eu.com as soon as possible.

Queries

If you have any questions with regard to this update please contact the Communications and Counterparty Management Team by emailing clientpositionresponses@lbia-eu.com.