ENHANCED INDEX FUNDS PCC ANNOUNCES CHANGES IN THE DIRECTORS AND CHANGES IN THE DIRECTORS OF THE MANAGER

17 October 2008

Changes in Directors of Enhanced Index Funds PCC

We are writing to you with regard to the resignation of Mr. Javed Aboobakar as a director of Enhanced Index Funds PCC (the "Fund") and the appointment of Mr. Afsar Ebrahim as a director of the Fund in Mr. Javed Aboobakar's place.

Mr. Afsar Ebrahim is a partner of BDO De Chazal Du Mée in Audit and Business Advisory Services. He is a fellow of the Institute of Chartered Accountants in England and Wales and holds a Corporate Finance Qualification from it. At BDO De Chazal Du Mée, he has performed a number of operational, financial audits and provides advisory services. Afsar has been in charge of a portfolio of clients operating in most sectors of the Mauritian economy and has significant advisory experience in several areas of banking, hotels, textiles, mergers and acquisitions and raising of funds locally and internationally. Prior to his current post, Afsar was a Manager of Investment and Corporate Banking at HSBC Mauritius.

Changes in Directors of Enhanced Investment Products (Cayman) Limited

We are writing to you with regard to the resignation of Rory Macdiarmid as a director of Enhanced Investment Products (Cayman) Limited (the "Manager") and the appointment of Howard Ho Yuen Ng as a director of the Manager in Mr. Macdiarmid's place.

Mr. Macdiarmid resigned as a director of the Manager on 31 March 2008. Mr. Macdiarmid's resignation from the Manager is a result of his relocation to England.

Mr. Ng was appointed as a director of the Manager on 31 March 2008 as a replacement director for Mr. Macdiarmid. Mr. Ng has over 9 years experience in financial markets starting in 1998 with Jardine Fleming (now part of JPMorgan on the proprietary trading desk.

Tobias Bland, CEO

on behalf of the Board of Directors