Notice Fee

MISICK & STANBROOK HOURLY RATES

We have recently carried out a review of our hourly charge-out rates, the first such review for a number of years. It has become apparent that our rates have fallen significantly behind the rates charged by competing law firms in TCI and (in relation to financial work) by our competitor law firms in the region. Consequently, with effect from 1st April 2008, our rates will be increased to bring them into line with those charged by our competitors and to reflect the local and international standing of the Firm and its fee earners.

Where a fee has been quoted for a particular short-term engagement or a particular transaction, that quote will of course be honoured. However, much of the work the Firm does is on an ongoing basis for financial, commercial and private clients and those rates will now be increased. Going forward, this exercise will be repeated on a periodical basis to ensure that we remain in line with our local and regional competitors, and to reflect the increasing seniority and experience of associates in the Firm.

If you have any questions about the charge-out rates applicable to your work or matter, please contact Virginie Darmois, our head of accounting, at virginie@misickstanbrook.tc.

Misick & Stanbrook

14th March 2008

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