Gasan Funds SIVAC p.l.c.
JUNE 11, 2003

The general public should be aware that the Board of Directors of the Gasan Funds SICAV plc (‘the Scheme’) requested the Malta Financial Services Authority (‘MFSA’) to surrender the collective investment scheme licences granted under the Investment Services Act, 1994 to the Scheme in respect of the Gasan International Equity Growth Fund, the Gasan International Diversified Growth Fund and the Gasan International Lower Risk Fund (hereinafter collectively referred to as the ‘Funds’). The MFSA has accepted the request of the Board of Directors and accordingly with effect from the 11th June 2003 the Funds ceased to be licensed by the MFSA.