1. AMEDA 10th meeting 21-23 October 2009 1 PERSPECTIVES OF STICODEVAM DURING THE NEXT YEARS STICODEVAM is working on three new project 1.Safety of data exchanged with participants and IT system 2.Register of shareholders 3.New code about financial services for non resident

2. AMEDA 10th meeting 21-23 October 2009 2 PERSPECTIVES OF STICODEVAM DURING THE NEXT YEARS  Currently, STICODEVAM is working to strengthen the security of the exchanges with its participants.  A new authentication system based on a digital certificate was implemented since may 2009. The new certificate is provided by the certification authority in Tunisia.  The digital certificate allows the exchange of signed documents online between the CSD and the participants through a more secure environment.  By the end of 2010 : All exchanged documents through the private-web site (internet) will enclose a digital signature. Safety of data exchanged with participants

3. AMEDA 10th meeting 21-23 October 2009 3 PERSPECTIVES OF STICODEVAM DURING THE NEXT YEARS  STICODEVAM perform an annual audit for its computer systems and networks in accordance with a law about IT security. Safety of IT system No problem was found only some recommendations to enhance IT security

4. AMEDA 10th meeting 21-23 October 2009 4 PERSPECTIVES OF STICODEVAM DURING THE NEXT YEARS Central Registry STICODEVAM is developing a software in order to manage a Central Registry witch means any activity related to the bookkeeping of securities ownership :  Updating records of the names of securities owners and the relevant rights and obligations  Any service related to the issuance of securities on behalf of the issuer.

5. AMEDA 10th meeting 21-23 October 2009 5 PERSPECTIVES OF STICODEVAM DURING THE NEXT YEARS A law was published on August 2009 about financial services code for non resident. The main goal of this code is to regulate the off-shore financial activities by :  Creating an off-shore compartment in Tunisia stock exchange;  Authorizing the dealing of classic financial instruments and derivatives,  Giving STICODEVAM the responsibility to settle all transactions negotiated in the off-shore compartment.  These points are in study with financial authorities to establish practical procedures Off shore zone

6. AMEDA 10th meeting 21-23 October 2009 6 http://www.Sticodevam.com Adresse : 92-94 avenue Hedi chaker- 8 ème étage 1002 Tunis belvédère Tel :+216-71-286-211 Fax : +216-71-286-842 E-mail: sticodevam@sticodevam.com