(the “Company”)

NOTICE OF ELECTION OF DIRECTOR

NOTICE is hereby given that IT WAS RESOLVED at the Annual General Meeting of the Company held on April 28th, 2009 at Shedden Road, Elizabethan Square, Phase Three, Ground Floor, George Town, Grand Cayman, Cayman Islands to remove Mr. Jose Grasso Vecchio as Alternate Director of the Company and to appoint Mr. Joaquin Urbano Berrizbeitia as Alternate Director of the Company..

By Order of the Board of Directors

VBT Holdings, Ltd.

Elizabethan Square, Phase III

George Town, Grand Cayman

Cayman Islands