GDII Czech A.S.'s start of insurance activity in the Czech Republic 25/4/2007    Notice is hereby given that on the 24th of April, 2007, the Czech National Bank has informed that it has decided to grant GDII Czech A.S., a corporation registered in the Czech Republic, in the full ownership of GDII-Global Direct Insurance Investments B.V., a corporation registered in the Netherlands, fully owned by the Company, a license to engage in insurance in the Czech Republic, in the sectors of Motor Vehicle Insurance, Property Damage, and other sectors in the areas of non-life insurance. GDII Czech A.S.'s start of insurance activity in the Czech Republic requires certain additional procedures and approvals and is anticipated to begin during the month of May, 2007. Information with respect to the date of starting of operation is a future-looking information and may not materialize within said time frame in the event of a delay in receipt of the remaining required approvals. On 27 November, 2006, the Company has reported (reference No.2006-01-143659) that it has signed a non-binding Letter of Intent with R&SA regarding the possibility of creating a joint venture in their joint control by way of issuance of shares to R&SA in GDII against an investment of $170,000,000 in GDII so that after such issuance the Company and R&SA will hold an equal number of shares in GDII. As of the date of the report of 27 November, 2006, and to date, the parties are conducting negotiations, and exchanging advance drafts of agreement, and the Company will report immediately upon signing a binding agreement, if signed.