“Issues Arising from the Stanford Financial Group Matter”

On Monday, February 16, 2009, the U.S. Securities and Exchange Commission (the“SEC”) charged Texas financier R. Allen Stanford (“Stanford”) and three of his companies with a “massive” fraud that centered on certificates of deposits. Stanford’s companies include Stanford International Bank, based in Antigua, broker-dealer and investment adviser Stanford Group Company (“SGC”) based in Houston, and investment adviser Stanford Capital Management. Stanford and the three companies conducted business under the “Stanford Financial Group” trade name and trademark. As a U.S. licensed broker-dealer and investment advisory firm, SGC had offered a wide range of brokerage, financial planning and international investment services for its customers.