WARNING – NON AUTHORIZED ENTITY – ROSWELL SPENCER, S.A.

PUBLIC RELEASE

The National Securities Commission of the Republic of Panama, in compliance with regulations of the Decree Law No.1 of July 8^th of 1999  and its agreements (The Panamanian Securities Law) andaccording to its legal duty to protect the securities market, warns and reiterates to the public that:

1.    The Superintendencia General de Valores of Costa Rica (SUGEVAL) keep published on its websites, in the list of warning of companies that are not authorized to carry out regulated activities in the Securities Market, the company Rosswell Spencer. The link of the  warning is the following:

https://www.sugeval.fi.cr/serviciosytramites/Paginas/Alertasinversionista.aspx

2.    The companyRoswell Spencer, S.A.,which is incorporated in the Public Registry of Panama under Microjacket number 458769, Document number 644670 of the Mercantile Section of the Public Registry and that publish on its website: https://www.rosswellspencer.com/indexsp.htmlthat your main offices are located at San Jose, Costa Rica and they operating under regulations of the Governments of Costa Rica and Panama, has not been issued any kind of license by the CNV of Panama, nor has been authorized to carry out business as a financial intermediary ofsecurities or investments in or from the Republic of Panama.

3.    If you may have additional questions regarding this information, we request to contact the National Securities Commission of Panama at phone number (507)501-1700, fax (507)501-1709 or by e-mail to info@supervalores.gob.pa.

Alejandro Abood Alfaro
Chairman

December 13^rd, 2010.