5 July 2006

Dear Sir/Madam,

Non-Cooperative Countries and Territories & 
United Nations Sanctions Ordinance

I am writing to inform you of the latest developments in the following areas:

The Financial Action Task Force on Money Laundering (FATF) decided at its June 2006 Plenary meeting to remove Nigeria from the list of NCCTs, having regard to the progress it has made in implementing its anti-money laundering reforms. At present, Myanmar is the only one country remaining on the list. The related press release issued by the FATF can be found on its homepage (http://www.fatf-gafi.org).

United Nations Sanctions Ordinance

Two updated lists of "relevant persons and entities" have been specified under section 36 of the United Nations Sanctions (Democratic Republic of the Congo) Regulation 2005 and section 37 of the United Nations Sanctions (Cote d'Ivoire) Regulation 2006 respectively. The lists were published in the Gazette (G.N. 3816 and G.N. 3817) on 23 June 2006.

The lists of "relevant persons and entities" are available on the Government's website (http://www.info.gov.hk/eindex.htm). Copies of the lists in MS Word format are also attached to facilitate updating of the information in your electronic database.

You are reminded to check the names contained in the lists against your records and report any transactions or relationships you have or have had with the named individuals or entities to the Joint Financial Intelligence Unit and the HKMA. You are also reminded to browse the above website regularly for the latest information.

Yours faithfully,

William A. Ryback
Deputy Chief Executive