FILE NOTE

75155.001 THE KOLBER TRUST

Jonathan Kolber and Don Chazan (the Investment Advisor) attended the office
on the 9th November 2007 by appointment to review matters generally and to
explain some changes that they were anxious to make to the trust having met
with various tax advisors in New York some two weeks ago. They wished also
to meet with the “new people” at Appleby.
A general overview of the presnt position in the trust was outlined to both
gentlemen and as the December 2006 accounting has been completed the main
issue that we are dealing with at present is the review of the loan agreement
between the trust and Anfield. This is in hand with the law firm at present.
Documentation was requested as to the earliest lodgments to the bank account,
and Archives were able to unearth that and copies of it were taken by Don and
Jonathan. This information is to be provided to the tax advisors advising
Jonathan in New York.
It was mentioned that because of the mix of US and Canadian beneficiaries in
the trust the nub of the advice from all taxation advisors was that removing the
US beneficiaries from the trust was the best way all round of dealing with the
estate planning of the parties involved. These people are Jonathan’s issue and
his sister and her issue. These people would be taken care of in other ways
than through the trust. As Lynne is the only one really affected by this (the
others are all under age) at present, Jonathan will arrange to make gifts to her
instead of the trust making the present distributions to her.
The tax representatives at the above meeting were as follows;
Beth Tractenberg ( N.Y.) advising Lynne Kolber Halliday
Mark David Rozen of Roberts & Holland LLP (N.Y) advising Jonathan on U
taxation matters.
Alan Sacks (Israel) advising Jonathan on Israeli taxation matters.
What is proposed and agreed to by all involved in this exercise is that the issue
of Jonathan (but not Jonathan) and Lynne Kolber Halliday and her issue be
removed form the trust as beneficiciaries. These are all US citizens.
Senator Leo Kolber be added as a beneficiary.
A new trust be established by the trustees of the present on behalf of Senator
Kolber.

 We are to be provided with taxation opinions setting out the reasoning and
advantages of this arrangement.
The above gentlemen also met with John Fletcher and Carlos Pimental
(separately) .Some brief discussion was held regarding the use of a STAR
trusts and Carlos arranged to forward some notes on this to Don. It was not
thought that such a trust would be suitable in this situation.
S O’ Dwyer
9/11/07