Revocation of Bank License of United Pacific Bank Limited

CIRCULAR LETTER Series of 1997

TO : All Banks and Non-Bank Financial Institutions

SUBJECT : Revocation of Bank License of United Pacific Bank Limited

Attached, for your reference and guidance, is a copy of the letter dated February 5, 1997 of Mr. Julian M. Ala, Financial Services Commissioner of the Republic of Vanuatu, regarding the delisting of United Pacific Bank Limited as a registered entity in Vanuatu.

ALBERTO V. REYES Deputy Governor

VANUATU FINANCIAL SERVICES COMMISSION

05 February 1997

The Deputy Governor Bangko Sentral Ng Pilipinas Mabini Street corner Vito Cruz Street Malate, Manila 1004 PHILIPPINES

Dear Sir

re: UNITED PACIFIC BANK LIMITED

I have been sent extracts from Philippines newspapers referring to a Central Bank warning on United Pacific Bank.

I write to advise that as banking supervisor of all exempted banks registered in Vanuatu the banking license of the United Pacific Bank Limited was revoked on 30th August, 1996.

The company was struck off the registry on 9th December, 1996.

United Pacific Bank is no longer registered as an entity in Vanuatu.

Yours faithfully

Julian M Ala Financial Services Commissioner