In a November 3, 2003 press release, the FATF, of which Canada is a member, announced that it would apply additional counter-measures to Myanmar. These counter-measures are due to that country’s failure to establish a framework to engage in effective international cooperation in the fight against money laundering and to implement regulation necessary to make its anti-money laundering law enforceable. For a current listing of all the non-cooperative countries and territories, please refer to the FATF Internet site at http://www1.oecd.org/fatf/NCCT_en.htm.

Accordingly, with respect to any business or affairs that may be transacted by financial institutions with persons or entities domiciled in Myanmar, we request that your financial institution, whether directly or through any subsidiary or branch operations, exercise due diligence and caution in reviewing any transactions with such persons or entities. In addition, we request that you undertake appropriate customer identification due diligence to ensure that the principals or beneficial owners are identified.

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has also issued an advisory with respect to this action.

Thank you very much for your anticipated co-operation in this matter.