Cayman Finance News

17 February 2011

Dear Sir,

We have noted with interest your comments made in the Commons yesterday with regards to
multinational companies and banks “hiding their money in tax havens such as the Cayman Islands”.
This statement is factually inaccurate. Perpetuating such falsehoods does a disservice to the
enormous economic benefits bestowed upon UK companies by their use of Cayman structures and
therefore to your constituent tax payers.

(16 February 2011) -- Cayman Finance announced today the appointment of Roy McTaggart as Interim Chairman, effective immediately.

(Tuesday 15 February) -- Cayman Finance expressed both sadness and regret at the passing of co-founder, financial-services industry leader, spokesman and long-time local and international banker Eric Crutchley.

 GRAND CAYMAN, CAYMAN ISLANDS:  Following the announcement of the resignation of Anthony Travers as chairman of Cayman Finance, the Cayman Finance board wishes to acknowledge the tremendous achievements made by Travers in the past two years as leader of the organisation.   Through this time, there have been critical international pressures placed on Cayman’s reputation and Travers has explained and defended Cayman’s position admirably.

LONDON:  A report published in The Financial Times on January 16 once again perpetuates the myth that The Cayman Islands is suffering at the hands of Ireland regarding the re-domiciling of funds.