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New Director of Investment Business: Assumes Post

October 28, 2002 - The BVI Financial Services Commission (“FSC”) is pleased to announce the appointment of Ms. Ruth Chadwick, as Director of Investment Business, with effect from 1 June, 2002. Ms. Chadwick, who was recruited by the FSC to replace the former Registrar of Mutual Funds, will now be responsible for heading up the Investment Business Division of the FSC, which includes the Mutual Funds Registry. A member of the Chartered Institute of Public Finance and Accounting, Ms. Chadwick has had an impressive career in both the public and private sectors in the UK.