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ARTICLE · 28 OCTOBER 1998

MSI-Preferred Investment Fund, Ltd - 12. Appendix: Statutory Information

Montaque Securities International Ltd
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BahamasCorporate/Commercial Law
Section 66 of the Companies Act 1992 requires that certain additional information be provided with this Prospectus. In accordance with this requirement, the following details are submitted:

a) The Memorandum of the Fund states as follows:

1. The name of the Company is MSI-Preferred Investment Fund, Ltd.

2. The Registered Office of the Company will be at the offices of Montaque Securities International, Ltd., Saffrey Square, First Floor, Bay Street & Bank Lane, Nassau, New Providence, The Bahamas, the postal address of which is P. O. Box N.8303, Nassau, The Bahamas.

3. The Company shall have the capacity and all the rights, powers, and privileges of an individual of full capacity.

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