WARNING – NON AUTHORIZED ENTITY – FOX INVESTMENT & HOLDING, S.A.

The National Securities Commission of the Republic of Panama (Comisión Nacional de Valores de la República de Panamá-CNV), according its legal duty to protect the securities market in Panama, in compliance with regulations of the Decree Law No.1 of  July 8th of 1999 and its agreements, warns to the public as follows:

That the company FOX INVESTMENT & HOLDING, S.A. which is incorporated in the Public Registry of Panama under the form number 455631, document 626176 of the Trade Section, has not been issued any kind of license by the Commission, nor has been authorized to carry out businesses as a financial intermediary of securities or investments in or from Panama.

Consequently, the activities that make this company can not be endorsed or guaranteed by this Commission, regarding the performance of its operations, if the company is not registered or the Authority has not given license to operate in the stock market.