Hansard MB20 Glanmore Property (Oct 2008)

HANSARD GROUP

AROUND THE WORLD, AROUND THE CLOCK

Important Notice Regarding MB20 Glanmore

On 30th June 2008 we provided an update about the decision by the Board of Directors of the Glanmore Property Fund to introduce a notice period on redemptions and set out the consequent impact on the Hansard Glanmore Property Fund (MB20). At that time it was noted that we would alert you to any further changes on the basis of operation of MB20.

In the interim, a large number of Hansard Europe Limited policyholders and their advisors have determined to switch from MB20. These planned outflows are sufficient to reduce both the Hansard EU Glanmore Property Fund (MB20) and the Hansard EU Glanmore Property Gross Fund (MB20G) to a size that would make their continued existence uneconomic for any remaining unit holders. As a result, MB20 and MB20G for Hansard Europe Limited will be closed and instructions have been given for the liquid proceeds to be determined for allocation to all unit holders in due course.

The timing of receipt of the proceeds continues to be subject to the notice period time restrictions previously advised in the communication of 30th June 2008. When the timing is known, we will write to each of the effected clients. This action does not effect any pending transactions that may have been placed, as they will be processed as set out in previous correspondence.

Please note that the situation regarding the Hansard Glanmore Property Fund for Hansard International Limited policyholders remains unchanged.

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.