Wren Investments Limited

Further information came OffshoreAlert's way recently about the nature of the allegations that led to the South African authorities issuing an arrest warrant against Keith Leslie King, the senior principal of First Nevisian, a Nevis-based stockbroking/corporate services group.We have obtained a document that originated from the Director of the Office for Serious Economic Offences in Pretoria dated May 15, 1996 that states: "This office is presently conducting an investigation into alleged fraudulent transactions in South African gilts (government and municipal stocks). The alleged falsification of stock certificates is an important element of the investigation.