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• The Resolution for consideration at the SGM on 20th January 2012 (ref Circular 17/11) was passed.

TO THE MEMBERS

Dear Sirs

SPECIAL GENERAL MEETING REPORT

At the Special General Meeting held on 20th January 2012 in Bermuda, the proposed amendments to the Rules of the Club were approved. The Resolution as set out in the Notice of Meeting attached to Circular

17/11

was passed.

The amendments to the Rules will come into effect at noon Greenwich Mean Time on 20th February 2012.

Yours faithfully

THOMAS MILLER (BERMUDA) LTD.CONTACT

• Members requiring further information should contact Chao Wu at chao.wu@thomasmiller.com or on telephone +44 20 7204 2157.