Crest International Securities

PRIVATE & CONFIDENTIAL

SUMMARY: CREST INTERNATIONAL SECURITIES LIMITED

CO. No.: 130445

Date of this draft: 11/02/2004

31 July 1913    Date of incorporation _

_ Incorporated as The Siberian Syndicate Ltd. Took over the ‘undertakings and assets’ of a company of the same name registered in 1905. Memorandum of Association covered all aspects of mining and financial holding company. Its main asset appears to have been 50 632 shares in the Spassky Copper Mine Ltd, which was in Russia. Authorised share capital of this company was 100 000 shares @ 1 each, of which 52 055 were allotted (plus seven initial subscribers = 52 062).

Major shareholders

Arthur Fell (5 492 shares)

Ludwig Ehrlich (4 411 shares)

The Transvaal Agency Ltd of 10/11 Austin Friars, EC (10 613 shares)

Directors

Arthur Fell, Gentleman, 46 Queen Victoria St, EC

Frederick Howard Hamilton, Merchant, 10/11 Austin Friars, EC

Alan John Lance Scott, Barrister-At-Law

Edward Thoman McCarthy, Engineer, 10/11 Austin Friars, EC

Ludwig Ehrlich, 10/11 Austin Friars, EC

Address

The company’s address was given as 60 London Wall, which today is the address of The Baring Foundation, founded 1969. ‘From the 1850s until 1917, Baring’s [was] the financial agent in London to the Imperial Russian Government.’ (www.bvcp.ru) The Russian Revolution occurred in 1917.

Auditors

The auditors in 1913 were Annan, Dexter & Co.