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ARTICLE · 11 DECEMBER 2008

Structured Finance - Representative Transactions

Phenix CFO Limited - Acted as Jersey legal adviser to IXIS-CIB on the issue of €180,000,000 multi-class notes pursuant to a CFO transaction structured using a Jersey issuer.

Cayman IslandsFinance and Banking

CFO TRANSACTIONS

Phenix CFO Limited

Acted as Jersey legal adviser to IXIS-CIB on the issue of €180,000,000 multi-class notes pursuant to a CFO transaction structured using a Jersey issuer.

RMF Four Seasons CFO Limited

Acted as Jersey legal adviser to IXIS-CIB on the issue of €120,000,000 multi-class notes pursuant to a CFO transaction structured using a Jersey issuer. Ogier Corporate Finance Limited also acted as sponsor in relation to the listing of the Notes on the Luxembourg Stock Exchange.

Vintage I Limited

Acted as Jersey legal advisor to Morgan Stanley & Co. International plc in relation to the entry by Vintage into a multicurrency revolving credit facility and liquidity facility and the issuance by it of subordinated participation certificates. The proceeds of issuance and borrowing was invested by Vintage in a managed portfolio of private equity investments, on the advice of Mizuho Investment Management (UK) Limited. We have also acted on

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