The World Trust Fund
Extract of the resolutions taken by the Board of Directors by
circular way, effective November 5, 2004
It is decided :
-- to co-opt of Mr. John M. HIGNETT as Director of the Company in replacement
of Mr. Rafik FISCHER.
-- that Mr. John M. HIGNETT will terminate his predecessor's mandate.
-- to propose to the Annual General Meeting of December 28, 2004 to ratify the
co-option of Mr. John M. HIGNETT.
-- to elect Mr. Jeremy W. SILLEM as Chairman of the Board of Directors.
-- to note the resignation of Mr. François A. VOSS and Mr. Walter A. EBERSTADT
from their mandate of Director of the Company.
Extract of the resolutions taken at the Annual General
Meeting of December 28, 2004
* The loss of USD 17.596.207 is carried forward;
* The co-option of Mr. John M. Hignett in replacement of Mr. Rafik Fischer is
* The following Directors are re-elected for the ensuing year: J. Murray LOGAN,
Philip R. McLOUGHLIN, Jeremy W. SILLEM and Alexander A. ZAGOREOS, John M.
* The resignation of Mr. François A. VOSS and Mr. Walter A. EBERSTADT is acted.
THE WORLD TRUST FUND
Société d'Investissement à Capital Fixe
L-1118 Luxembourg, 11, rue Aldringen
R.C.S. Luxembourg N° B 37.154