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Fund News - Important Notice regarding MX23 and MX39

Please be advised that Castlestone Management Incorporated are closing both the Honeyguide Income fund Class C and the Capital Preservation Income Plus Inc. fund Class CC on 30 June 2008. As a result, any contract units linked to MX23 Hansard Honeyguide Select Euro or MX23 Hansard EU Honeyguide Select Euro or to MX39 Hansard EU Capital Preservation Income Plus Inc. (’the Funds’) will be redeemed on 23 June 2008 and the following action will be taken.

As these Funds will no longer be available the contract units will be switched to X02 Hansard Euro Deposit Fund. This will be done without charge.

The investment objective of X02 “Aims to combine maximum security with competitive short-term yields for those wishing to hold money in bank deposits or short-term money-market instruments.” The investment objectives of X02 and the Funds are therefore significantly different. We will be emphasising to the policyholder that this difference is important to their financial planning and therefore requires their attention.

We are in the process of sending a letter to each policyholder that had a contact linked to the Funds and recommending a review with their independent financial advisor. The policyholder may determine that X02 is currently appropriate and prefer not to take any action. Alternatively they may wish to change the contract’s fund link composition, in which case we are referring them to their independent financial advisor for the provision of the appropriate switch and redirection forms which are available under the document library of Hansard OnLine.

Juliet Holmes
Reply to: juliet.holmes@hansard.com

The information set out herein has been obtained from various public sources and is sent to you by way of information only. Hansard can accept no liability of any sort in relation thereto and readers should obtain their own verification of any statement before making any decision which may have any financial or other impact.

Neither the information nor the opinions herein constitute, or are they to be construed as, an offer or a solicitation of an offer to buy or sell investments.