On Friday, May 4, 2012, the Joint Liquidators (“JLs”) of Stanford International Bank Limited (SIB) made a serious proposal to the US Department of Justice (“DOJ”) to resolve the ongoing argument over priority, in the interest of saving costs and to accelerate an orderly distribution of frozen assets to the victim creditors of SIB. The JLs seek to recover the overseas frozen funds of SIB that are in its bank accounts overseas or which were stolen from SIB and placed in other’s accounts overseas so that they can be promptly distributed by the JLs to the creditors of SIB – of which 99.916% are victims of the Stanford fraud. The JLs are acting under the auspices of their accounting firm Grant Thornton, the 5th largest accounting firm in the world. The JLs’ proposal to the DOJ – which is now posted on the SIBLiquidation.com website – calls for an interim distribution no later than September 30, 2012 by the JLs to the victim depositors of no less than 80% of the frozen liquid funds.

Accordingly, we urge all depositors of SIB to file their claims with the JLs – as set forth in the above referenced website – as quickly as possible so that they will be in a position to make a distribution to you as of September 30, 2012 if the proposed compromise with the DOJ comes to fruition.

Marcus Wide and Hugh Dickson, Joint Liquidators of SIB