LBI Settlement Agreement and Settlement of the Omnibus Claim – 19/06/2013

Further to the update dated 14 May 2013 regarding settlement of the Omnibus claim and the announcement on 7 June 2013 that the Common Terms Effective Date had occurred, the Administrators can confirm that LBIE has recovered the majority of the cash and securities from LBI and continues to work with LBI to transfer the residual balance.

LBIE has now executed sell trades in respect of approximately 90% of the aggregate value of securities received or to be received from LBI (based on the values as at 28 March 2013 reflected in the Seventh Update).

As noted in the 14 May update, the Administrators intend to provide a further announcement before the end of this month regarding the timing of the first interim distribution under the Common Terms, the population expected to participate and the updated indicative outcome.

If you have any queries in relation to the content of this update, please call your existing LBIE contact or send an email to generalqueries@lbia-eu.com.