1. CHANNEL ISLANDS STOCK EXCHANGE

2. PRESENATION TO THE JERSEY FUNDS ASSOCIATION Continuing Obligations Regime Competitiveness in Current Market Conditions Business Trends Strategic Developments - Update 1998-2008

3. CORPORATE GOVERNANCE FOR DIRECTORS OF LISTED COMPANIES Continuing Obligations Regime Directors’ Dealings Communications Disclosure

4. CISX LISTING RULES REQUIREMENTS

5. ISSUER’S DECLARATIONS (Appendix I) “We (the Issuer) acknowledge the obligation to comply with the continuing obligations contained in these Listing Rules.” (Appendix III) “The Issuer hereby undertakes and agrees to comply with the continuing obligations set out in the Exchange’s Listing Rules.”

6. LISTING PROCESS Sponsorship Application (routine or abridged) Documentation Market Authority Listing Fee Continuing Obligations

7. CONTINUING OBLIGATIONS Notification - Corporate Actions - AGM/EGM Resolutions - Annual Reports - Financial Statements Clearance - Listing Document - Articles of Association - Directors

8. NOTIFICATION REQUIREMENTS Market Data Certain Board Intended/Impending Corporate Actions AGM/EGM Notices, Resolutions Annual Report and Accounts/Financial Statements Suspensions

9. “CLEARANCE” EVENTS Proposed Changes: Listing Document Memorandum and Articles of Association Directors Intention to De-List

10. DIRECTORS’ DEALINGS Model Code - Minimum Standard of Good Practice Disclosure of Director’s Interests Reporting requirements Restriction on dealing during “close” periods Prohibition on Insider Dealing

11. ANNOUNCEMENTS Price Sensitive Information (PSI) General Market Data General Statements and Corporate Actions Directors’ Interest Changes in Relation to Issued Share Capital

12. MARKET DATA MANAGEMENT SYSTEM (“MDMS”) Features –Announcements –Net Asset Values –Background Information Benefits –Control of Data –Better flow of data –Accuracy –Information displayed on CISX website –Further product development

13. CHANGES TO SHARE CAPITAL Company purchases of own shares and provisions in relation to Treasury Shares; Redemptions (in the case of investment funds Listed under Chapter VII); Further share issues (by any method including public offers and rights issues); Mergers/De-Mergers/Takeovers De-listing securities

14. FINANCIAL INFORMATION Preliminary Statement of Annual Results and Dividends Annual Report and Accounts Interim (Half-Yearly) Reports

15. CANCELLATION OF LISTING 20 Business Days Notice May require Circular Copy of Minutes authorising cancellation Circumstances surrounding cancellation Written request from Issuer via Sponsor

16. COMPETITIVE POSITION Internationally Recognised Level Playing Field Credible Track Record High Level of Service Full Listing & Trading Facility Established Local Market Support of Members

17. NUMBER OF LISTINGS APPROVED As at 31 December 2008

18. COMPOSITION OF SECURITIES APPROVED As at 31 December 2008

19. CISX LISTED INVESTMENT FUNDS BY CATEGORY As at 31 December 2008

20. CISX TRADING STATISTICS As at 31 December 2008

21. STRATEGIC DEVELOPMENTS Active trading in Investment Funds and Trading Companies (with full CREST Settlement) CREST Settlement for OEICs New Markets New Products and Services Market Data Management System (MDMS)

22. MISSION PREMIER OFFSHORE STOCK EXCHANGE IN EUROPEAN TIME ZONE