In respect to a recent announcement by the FSA on US traded life policies (“TLPs” or life settlements) we wish to make the following statement:

We agree with the FSA that traded life policies (TLPs) may not be suitable for all investors and that advisors should never recommend any products they do not fully understand. In the past we have consistently made clear that life settlement products may be suitable only for certain institutional, sophisticated and high net worth investors. Our approved advisers who advise on the life settlement product that we distribute are required to pass a competency test.

Should the FSA ban any marketing of TLPs to retail investors this would not fundamentally affect our business because our target market for such products is not the mass retail market.

We have removed our promotional material regarding our life settlement products from our open-access advisor site. Our approved advisers will continue to be able to access this material through the password-protected area of our website. If you are an adviser who fits the above mentioned definition please email us at info@pdlinternational.com and we will send you your login details.