Press release # 2 8.11.

.13 Title : BCCI hearing # 1 on 8th November 2013 : third-party opposition against the judgment terminating and closing down the over 20 years lasting liquidation procedure itself Ten former creditors- amongst them Dr. Adil ELIAS, the appointed representative of the creditors - of BCCI have launched a class action in order to fight against what they qualify as unlawful reaction from the Luxembourg courts entrusted since 1992 with the administration and supervision of the winding up of the Pakistani equity bank BCCI settled down and with head office in Luxembourg, namely Bank of Credit and Commerce International. Public prosecution objected not having been formally invited and notified to join the litigation despite the fact that public prosecution is automatically part in any insolvency procedure. It looms that the states representative is not very keen on reopening the liquidation procedure as all available dividends and sums were distributed to creditors a couple of weeks ago, raising of course the question about who will be responsible and cashing out for the potential forthcoming administration and running costs of the liquidations outlays, office, liquidator himself and personnel. So far over the last 20 years these significant expenses and outlays were charged to the creditors mass and assets directly. Commercial courts judgment number 427/2012 ref 136538 and 136440 dated 6th June 2012 quotes a monthly expenditure over one million USD. Former and last liquidator to BCCI, Mr. Delvaux, formally declared declining to be further considered as the lawful representative for both entities BCCI SA and BCCI Holdings Luxembourg SA as his personal liability is likely to become further engaged triggering by the way a serious conflict of interests should he stay in place. Should the court decide to reopen the liquidation process, it will have to find in due time and course a suitor and suitable successor for Mr. Delvaux. The Court admits according to the demand of claimants attorney Mr. Laurent Ries, that both entities legal existence is surviving at least for a subsequent 5-years period and decided to appoint an ad hoc administrator by end of this day in order to represent legally the BCCI entities i.e. Bank and holding company. The Court scheduled the next inter partes conference hearing to 4th December 2013 in order to determine a suitable time table for the case considered as urgent by the Court. Dr. Adil ELIAS New York, 8th November 2013