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MEMORIAL

Journal Officiel

du Grand-Duché de

Luxembourg

MEMORIAL

Amtsblatt

des Großherzogtums

Luxemburg

R E C U E I L D E S S O C I E T E S E T A S S O C I A T I O N S

Le présent recueil contient les publications prévues par la loi modifiée du 10 août 1915 concernant les sociétés commerciales

et par la loi modifiée du 21 avril 1928 sur les associations et les fondations sans but lucratif.

C — N° 2993

24 décembre 2007

SOMMAIRE

Almatis Investment Holdings S. à r.l. . . . .

143629

Antenor S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . .

143636

Asset Backed Investments S.A. . . . . . . . . . .

143640

Axolia SA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

143629

Bowland S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . .

143622

Capucine S.A. . . . . . . . . . . . . . . . . . . . . . . . . . .

143637

Catalux S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . .

143626

Condor Property Europe Holding 1929 S.à

r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

143631

CSP & P Holding S.A. . . . . . . . . . . . . . . . . . .

143627

Dierickx, Leys Luxembourg S.A. . . . . . . . . .

143637

DimaSilfo S.à r.l. . . . . . . . . . . . . . . . . . . . . . . .

143618

Filpac S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

143630

Financière Truck S.à r.l. . . . . . . . . . . . . . . . .

143625

Gelawin S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . .

143619

Hoffmatech S.à r.l. . . . . . . . . . . . . . . . . . . . . .

143618

Iberofinance S.A. . . . . . . . . . . . . . . . . . . . . . . .

143625

IF TOP Sàrl . . . . . . . . . . . . . . . . . . . . . . . . . . . .

143638

IG Log 2 S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . .

143638

IHL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

143640

Imar S.A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

143631

Inter-Découpe S.A. . . . . . . . . . . . . . . . . . . . . .

143619

Intrawest Europe Holdings S.à r.l. . . . . . . .

143619

Intrawest Luxembourg Holdings S.à r.l.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

143622

Invivo S.à r.l. et Cie, S.e.c.s. . . . . . . . . . . . . .

143632

IS EF Two S.à r.l. . . . . . . . . . . . . . . . . . . . . . . .

143638

IS Eurologistics Fund S.à r.l. . . . . . . . . . . . . .

143639

IS Eurologistics Investments Sàrl . . . . . . . .

143640

Klatone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

143636

LBREP II Master S.à r.l. . . . . . . . . . . . . . . . . .

143629

Le Win Property S.A. . . . . . . . . . . . . . . . . . .

143635

Mafluxinvest Holding S.A. . . . . . . . . . . . . . . .

143630

Mirabaud Bonds . . . . . . . . . . . . . . . . . . . . . . . .

143622

Narol Investment S.A.H. . . . . . . . . . . . . . . . .

143637

Quorance Holding S.A. . . . . . . . . . . . . . . . . .

143630

Roberto Frères Tuyauteries Industrielles

Lux S.à r.l. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

143618

San Investment S.A. . . . . . . . . . . . . . . . . . . . .

143636

Sigla Luxembourg S.A. . . . . . . . . . . . . . . . . .

143625

Sigla Luxembourg S.A. . . . . . . . . . . . . . . . . .

143629

Uplace Management S.A. . . . . . . . . . . . . . . .

143637

Uptake Financial S.A. . . . . . . . . . . . . . . . . . . .

143632

Vasterudd S.A. . . . . . . . . . . . . . . . . . . . . . . . . .

143639

WB International Holdings VII S.à r.l. . . . .

143631

Zitol Holding S.A. . . . . . . . . . . . . . . . . . . . . . .

143630

143617

R.F.T.I. LUX S.à r.l., Roberto Frères Tuyauteries Industrielles Lux S.à r.l., Société à responsabilité limitée.

Siège social: L-3394 Roeser, 59, Grand-rue.

R.C.S. Luxembourg B 98.511.

L'an deux mille sept, le vingt-cinq octobre.
Par-devant Maître Roger Arrensdorff, notaire de résidence à Mondorf-les-Bains, soussigné.

Ont comparu:

1. Michel Roberto, tuyauteur, demeurant à F-57700 Hayange (France), 7, rue de la Fauvette, et,
2. Claude Roberto, tuyauteur, demeurant à F-57700 Hayange (France), 29, rue Notre Dame,
propriétaire des cent (100) parts sociales de ROBERTO FRERES TUYAUTERIES INDUSTRIELLES LUX S.à r.l., en

abrégé R.F.T.I. LUX S.à r.l., avec siège social à L-3394 Roeser, 59, Grand-Rue, constituée suivant acte du notaire Jean
Seckler de Junglinster en date du 18 décembre 2003, publié au Mémorial, Recueil des Sociétés et Associations C, numéro
241 du 28 février 2004.

Michel Roberto, susdit, déclare céder à Vincent Poulard, ingénieur, demeurant à F-44410 Herbignac (France), 46, route

de Kerdebleu, seize (16) parts sociales de la Société, pour le prix de deux mille (2.000,-) euros.

Claude Roberto, susdit, déclare céder à Vincent POULARD, préqualifié, dix-sept (17) parts sociales de la société pour

le prix de deux mille cent vingt-cinq (2.125,-) euros.

Le cessionnaire sera propriétaire des parts sociales lui cédées et il aura droit aux revenus et bénéfices dont elles seront

productives à compter de ce jour.

Le cessionnaire sera subrogé dans tous les droits et obligations attachés aux parts sociales cédées.
Le prix de cession a été payé par le cessionnaire aux cédants avant la passation des présentes et hors la présence du

notaire. Ce dont quittance et titre.

Ensuite: Claude Roberto, préqualifié, agissant en sa qualité de gérant, accepte au nom de la Société les cessions qui

précèdent, conformément à l'article 1690 du Code Civil et dispense le cessionnaire à faire signifier lesdites cessions à la
Société, déclarant n'avoir aucune opposition et aucun empêchement à faire valoir qui puissent arrêter leur effet.

Finalement, les associés Michel Roberto, Claude Roberto et Vincent Poulard, préqualifiés, se réunissent en assemblée

générale extraordinaire, à laquelle ils se reconnaissent dûment convoqués et à l'unanimité, prennent les résolutions sui-
vantes:

1) Ils donnent leur agrément en ce qui concerne les cessions de parts visées ci-avant.
2) Suite à la résolution qui précède ils décident de modifier le deuxième alinéa de l'article 6 des statuts et lui donnent

la teneur suivante:

Art. 6. deuxième alinéa. Les parts sociales ont été souscrites comme suit:

1. Michel Roberto, trente-quatre parts sociales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
2. Claude Roberto, trente-trois parts sociales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
3. Vincent Poulard, trente-trois parts sociales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Total: Cent parts sociales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100

Dont acte, fait et passé à Mondorf-les-Bains, en l'étude.
Et après lecture faite et interprétation donnée aux comparants, ils ont tous signé avec Nous, notaire, le présent acte.
Signe: M. Roberto, C. Roberto, V. Poulard, R. Arrensdorff.
Enregistré à Remich, le 2 novembre 2007 Relation: REM/2007/1762. — Reçu 12 euros.

Le Receveur (signé): Molling.

Pour expédition conforme délivrée aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Mondorf-les-Bains, le 14 novembre 2007.

R. Arrensdorff.

Référence de publication: 2007140690/218/46.
(070156892) Déposé au registre de commerce et des sociétés de Luxembourg, le 16 novembre 2007.

DimaSilfo S.à r.l., Société à responsabilité limitée,

(anc. Hoffmatech S.à r.l.).

Siège social: L-9364 Keiwelbach, 2, Reisdorferstrasse.

R.C.S. Luxembourg B 132.328.

Statuts coordonnés déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

143618

Echternach, le 3 décembre 2007.

H. Beck
Notaire

Référence de publication: 2007142524/201/13.
(070165376) Déposé au registre de commerce et des sociétés de Luxembourg, le 4 décembre 2007.

Inter-Découpe S.A., Société Anonyme,

(anc. Gelawin S.A.).

Siège social: L-8010 Strassen, 270, route d'Arlon.

R.C.S. Luxembourg B 108.971.

Statuts coordonnés déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Senningerberg, le 7 novembre 2007.

P. Bettingen
Notaire

Référence de publication: 2007142525/202/13.
(070165252) Déposé au registre de commerce et des sociétés de Luxembourg, le 4 décembre 2007.

Intrawest Europe Holdings S.à r.l., Société à responsabilité limitée.

Siège social: L-2310 Luxembourg, 16, avenue Pasteur.

R.C.S. Luxembourg B 111.267.

In the year two thousand and seven, on the seventh day of the month of November.
Before Maître Joseph Elvinger, notary, residing in Luxembourg.

There appeared INTRAWEST HOLDINGS S.àr.l., a société à responsabilité limitée, having its registered office at 16,

avenue Pasteur, L-2310 Luxembourg, being registered with the registry of trade and companies of Luxembourg under
number B 120.197, being the sole shareholder of INTRAWEST EUROPE HOLDINGS S.à r.l. (the «Company»), a société
à responsabilité limitée having its registered office at 16, avenue Pasteur, L-2310 Luxembourg, incorporated by deed of
notary Henri Hellinckx, on 5 October 2005, published in the Mémorial C, Recueil des Sociétés et Associations (the
«Mémorial») number 208 of 30th January 2006. The articles of incorporation of the Company have been amended for
the last time on 3rd November 2006 by deed of notary Henry Hellinckx, published in the Mémorial number 45 of 25th
January 2007,

Represented by M

Toinon Hoss, maître en droit, residing in Luxembourg, pursuant to a proxy dated 31 October

2007.

The appearing party declared and requested the notary to state that:
1. The entire issued share capital represented by five thousand five hundred seventy (5,570) shares is held by the sole

shareholder.

2. The sole shareholder is represented by proxy so that all shares in issue in the Company are represented at this

extraordinary decision of the sole shareholder so that the decisions can be validly taken on all the items on the agenda.

3. The agenda of the meeting is as follows:
(A) Change of signature power of the members of the Board of Managers of the Company to provide for different A

and B signature powers as set forth below and to amend the last paragraph of article 7 of the articles of incorporation
as set forth below:

«The Company will be bound by the signature of the sole manager in the case of a sole manager, and in the case of a

board of managers by the signature of anyone of the managers, provided however that in the event the general meeting
of shareholders has appointed different classes of managers (namely class A managers and class B managers) the Company
will only be validly bound by the joint signature of two class A managers or by the joint signature of one class A manager
and one class B manager (including by way of representation). In any event the Company will be validly bound by the sole
signature of any person or persons to whom such signatory powers shall have been delegated by the sole manager if
there is only one manager, by the board of managers or any two of the managers or, in the event of classes of managers,
by the joint signature of two class A managers in any case or by the joint signature of one class A manager and one class
B manager (including by way of representation).»

(B) Termination of the mandate of David N. Brooks as manager of the Company; re-composition of the board of

managers and appointment (or re-appointment) as Class A managers and Class B managers of the board of managers of
the Company for an undetermined period of time as follows with such signature powers as set forth in the amended
article 7 for A and B signatures:

143619

Class A Managers:

- Linda Priest, Certified Public Accountant, born on 6 August 1955 in Pasadena, California, USA, with professional

address at 200 Burrard Street - Suite 800, Vancouver, BC, Canada V6C 3L6,

- David Eric Stiepleman, Managing Director, born on 23 July 1971 in New York, New York, USA, with professional

address at 1345 Avenue of The Americas - 46th Floor New York, NY 10105;

Class B Managers:

- Aidan Foley, director, born on 8 December 1976 in Waterford, Ireland, with professional address at 16, avenue

Pasteur, L-2310 Luxembourg;

- Georges Gudenburg, lawyer, born on 25 November 1964 in Luxembourg, Grand Duchy of Luxembourg, with pro-

fessional address at 3A, rue Neuve, L-6160 Luxembourg.

After deliberation it was unanimously resolved as follows:

First resolution

It is resolved to change the signature powers of the members of the Board of Managers by providing for different

powers for the A Managers and the B Managers as set forth in the amended article 7. In consequence, it is resolved to
amend the last paragraph of article 7 as set forth in the agenda.

Second resolution

It is resolved to terminate the mandate of David Brooks as manager and to confirm and to appoint or reappoint the

following persons to the Board of Managers for an undetermined period of time as follows with such signature powers
as set forth in the amended article 7 for A and B signatures:

Class A Managers:

- Linda Priest,
- David Eric Stiepleman;

Class B Managers:

- Aidan Foley;
- Georges Gudenburg.
There being no further item on the agenda the meeting was closed.
The undersigned notary, who understands and speaks English, herewith states that at the request of the party hereto,

these minutes are drafted in English followed by a French translation; at the request of the same appearing person in case
of divergences between the English and French version, the English version will prevail.

Done in Luxembourg on the day before mentioned.
After reading these minutes the appearing party signed together with the notary the present deed.

Suit la traduction française du texte qui précède:

L'an deux mille sept, le septième jour du mois de novembre.
Par-devant Maître Joseph Elvinger, notaire de résidence à Luxembourg.

A comparu:

INTRAWEST HOLDINGS S.àr.l., une société à responsabilité limitée ayant son siège social au 16, avenue Pasteur,

L-2310 Luxembourg, inscrite auprès du Registre de Commerce et des Sociétés de Luxembourg sous le numéro B 120
197, étant l'associé unique de INTRAWEST EUROPE HOLDINGS S.à r.l. (la «Société»), une société à responsabilité
limitée ayant son siège social au 16, avenue Pasteur, L-2310 Luxembourg, constituée le 5 octobre 2005 par acte du notaire
Henri Hellinckx, publié au Mémorial C, Recueil des Sociétés et Associations (le «Mémorial») numéro 208 du 30 janvier
2006. Les statuts de la Société ont été modifiés pour la dernière fois en date du 3 novembre 2006 suivant acte reçu du
notaire Henri Hellinckx, publié au Mémorial numéro 45 du 25 janvier 2007,

représentée par M

Toinon Hoss, maître en droit, résident à Luxembourg, en vertu d'une procuration datée du 31

octobre 2007.

La partie comparante a déclaré et requis le notaire d'acter ce qui suit:
1. La totalité du capital social représentée par cinq mille cinq cent soixante-dix parts sociales (5,570) est détenu par

l'associé unique.

2. L'associé unique est représenté en vertu d'une procuration de sorte que toutes les parts sociales sont représentées

à cette décision extraordinaire de l'associé unique de sorte que toutes les décisions peuvent être valablement prises sur
tous les points de l'ordre du jour.

3. Les points sur lesquels les résolutions doivent être passées sont les suivants:
(A) Changement des pouvoirs de signature des membres du Conseil de Gérance de la Société afin de prévoir différents

pouvoirs de signature A et B tels que rédigés ci-dessous et de modifier le dernier paragraphe de l'article 7 des statuts
comme suit:

143620

«La Société sera engagée par la signature du gérant unique en cas d'un seul gérant, et dans le cas d'un conseil de gérance,

par la signature d'un des gérants, étant entendu que si l'assemblée générale des associés a nommé différentes classes de
gérants (à savoir les gérants de classe A et les gérants de classe B), la Société ne sera valablement engagée que par la
signature conjointe de deux gérants de classe A ou par la signature conjointe d'un gérant de classe A et d'un gérant de
classe B (y compris par voie de représentation). Dans tous les cas, la Société sera valablement engagée par la seule signature
de toute(s) personne(s) à qui de tels pouvoirs de signature auront été délégués, par le gérant unique, s'il n'y a qu'un seul
gérant, par le conseil de gérance ou par deux gérants, ou s'il existe des classes de gérants, par la signature conjointe de
deux gérants de classe A dans tous les cas ou par la signature conjointe d'un gérant de classe A et un gérant de classe B
(y compris par voie de représentation).»

(B) Terminaison du mandat de David Brooks en tant que gérant de la Société; recomposition du conseil de gérance

et nomination (ou ré-nomination) en tant que gérants de classe A et gérants de classe B du conseil de gérance de la
Société pour une durée indéterminée ayant les pouvoirs de signature tels que rédigés dans l'article 7 modifié pour les
signatures A et B:

Gérants de classe A:

- Linda Priest, certified public accountant, née le 6 août 1955 à Pasadena, Californie, Etats-Unis d'Amérique, avec

adresse professionnelle au 200 Burrard Street - Suite 800, Vancouver, BC, Canada V6C 3L6,

- David Eric Stiepleman, managing director, né le 23 juillet 1971 à New York, New York, Etats-Unis d'Amérique, avec

adresse professionnelle au 1345 Avenue of The Americas - 46th Floor New York, NY 10105.

Gérants de classe B:

- Aidan Foley, directeur, né le 8 décembre 1976 à Waterford, Ireland, avec adresse professionnelle au 16, avenue

Pasteur, L-2310 Luxembourg;

- Georges Gudenburg, avocat, né le 25 novembre 1964 à Luxembourg, Grand Duchy of Luxembourg, avec adresse

professionnelle au 3A, rue Neuve, L-6160 Luxembourg.

Après délibération, il a été décidé à l'unanimité comme suit:

Première résolution

Il est décidé de changer les pouvoirs de signature des membres du Conseil de Gérance en prévoyant des pouvoirs

différents pour les Gérants A et les Gérants B tels que rédigés dans l'article 7 modifié. Par conséquence, il est décidé de
modifier le dernier paragraphe de l'article 7 tel que rédigé dans l'ordre du jour.

Deuxième résolution

Il est décidé de terminer le mandat de David Brooks en tant que gérant et de confirmer et de nommer ou renommer

les personnes suivantes au conseil de gérance pour une durée indéterminée ayant les pouvoirs de signature tels que
rédigés dans l'article 7 modifié pour les signatures A et B:

Gérants de Classe A:

- Linda Priest
- David Eric Stiepleman

Gérants de Classe B:

- Aidan Foley; and
- Georges Gudenburg.
Plus rien n'étant à l'ordre du jour l'assemblée fut clôturée.
Le notaire signant, qui comprend et parle anglais, précise qu'à la demande de la partie comparante, le procès-verbal

de l'assemblée est rédigé en anglais suivi d'une traduction française. En cas de conflit entre la version anglaise et la version
française, la version anglaise prévaut.

Dont acte, cet acte est fait au Luxembourg à la date prémentionnée.
Après avoir lu ce procès-verbal, la partie comparante et le notaire ont signé cet acte.
Signé: T. Hoss, J. Elvinger.
Enregistré à Luxembourg, le 9 novembre 2007. Relation: LAC/2007/34643. — Reçu 12 euros.

Le Receveur ff. (signé): F. Schneider.

Pour expédition conforme, délivrée aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 16 novembre 2007.

J. Elvinger.

Référence de publication: 2007142638/211/144.
(070166026) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

143621

Bowland S.à r.l., Société à responsabilité limitée.

Siège social: L-1882 Luxembourg, 5, rue Guillaume Kroll.

R.C.S. Luxembourg B 111.268.

Statuts coordonnés déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Belvaux, le 29 novembre 2007.

J.-J. Wagner
Notaire

Référence de publication: 2007142526/239/12.
(070165472) Déposé au registre de commerce et des sociétés de Luxembourg, le 4 décembre 2007.

Mirabaud Bonds, Société d'Investissement à Capital Variable.

Siège social: L-5826 Hesperange, 33, rue de Gasperich.

R.C.S. Luxembourg B 65.751.

Statuts coordonnés déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 9 novembre 2007.

H. Hellinckx
Notaire

Référence de publication: 2007142523/242/12.
(070165571) Déposé au registre de commerce et des sociétés de Luxembourg, le 4 décembre 2007.

Intrawest Luxembourg Holdings S.à r.l., Société à responsabilité limitée.

Siège social: L-2310 Luxembourg, 16, avenue Pasteur.

R.C.S. Luxembourg B 125.110.

In the year two thousand and seven, on the seventh day of the month of November.
Before Maître Joseph Elvinger, notary, residing in Luxembourg.

There appeared INTRAWEST LUXEMBOURG S.A., a société anonyme having its registered office at 16, avenue

Pasteur, L-2310 Luxembourg, being registered with the registry of trade and companies of Luxembourg under number
B 63.994, being the sole shareholder of INTRAWEST LUXEMBOURG HOLDINGS S.à r.l. (the «Company»), a société à
responsabilité limitée having its registered office at 16, avenue Pasteur, L-2310 Luxembourg, incorporated by deed of
notary Henri Hellinckx, on 14 February 2007, published in the Mémorial, Recueil des Sociétés et Associations (the «Mé-
morial») number 871 of 14th May 2007. The articles of incorporation of the Company have been amended for the last
time on 25th May 2007 by deed of notary Henri Hellinckx, published in the Mémorial number 1580 of 27th July 2007,

Represented by M

Toinon Hoss, maître en droit, residing in Luxembourg pursuant to a proxy dated 31 October

2007.

The appearing party declared and requested the notary to state that:
1. The entire issued share capital represented by one hundred and sixty-one thousand four hundred eighty (161,480)

shares is held by the sole shareholder.

2. The sole shareholder is represented by proxy so that all shares in issue in the Company are represented at this

extraordinary decision of the sole shareholder so that the decisions can be validly taken on all items of the agenda.

3. The agenda of the meeting is as follows:
(A) Change of signature power of the members of the Board of Managers of the Company to provide for different A

and B signature powers as set forth below and to amend the last paragraph of article 7 of the articles of incorporation
as set forth below:

«The Company will be bound by the signature of the sole manager in the case of a sole manager, and in the case of a

143622

by the joint signature of two class A managers in any case or by the joint signature of one class A manager and one class
B manager (including by way of representation).»

(B) Termination of the mandate of Randal Nardone as manager of the Company; confirmation of Aidan Foley and

Georges Gudenburg as class B managers of the board of managers of the Company and appointment as Class A managers
of the board of managers of the Company for an undetermined period of time with such signature powers as set forth
in the amended article 7 for A and B signatures:

Class A Managers:

- Linda Priest, Certified Public Accountant, born on 6 August 1955 in Pasadena, California, USA, with professional

address at 200 Burrard Street - Suite 800, Vancouver, BC, Canada V6C 3L6,

- David Eric Stiepleman, Managing Director, born on 23 July 1971 in New York, New York, USA, with professional

address at 1345 Avenue of The Americas - 46th Floor New York, NY 10105.

After deliberation it was unanimously resolved as follows:

First resolution

It is resolved to change the signature powers of the members of the Board of Managers by providing for different

powers for the A Managers and the B Managers as set forth in the amended article 7. In consequence, it is resolved to
amend the last paragraph of article 7 as set forth in the agenda.

Second resolution

It is resolved to terminate the mandate of Randal Nardone as manager. It is resolved to confirm the appointment of

Messrs Aidan Foley and Georges Gudenburg as class B managers of the Company with such signature powers as set forth
in the amended article 7 for A and B signatures and to appoint Linda Priest and David Eric Stiepleman as class A managers
to the Board of Managers for an undetermined period of time with such signature powers as set forth in the amended
article 7 for A and B signatures so that the Board of Managers is composed as follows:

Class A Managers:

- Linda Priest
- David Eric Stiepleman

Class B Managers:

- Aidan Foley; and
- Georges Gudenburg.
There being no further item on the agenda the meeting was closed.
The undersigned notary, who understands and speaks English, herewith states that at the request of the party hereto,

Done in Luxembourg on the day before mentioned.
After reading these minutes the appearing party signed together with the notary the present deed.

Suit la traduction française du texte qui précède:

L'an deux mille sept, le septième jour du mois de novembre.
Par-devant Maître Joseph Elvinger, notaire de résidence à Luxembourg.

A comparu:

INTRAWEST LUXEMBOURG S.A., une société anonyme ayant son siège social au 16, avenue Pasteur, L-2310 Lu-

xembourg, inscrite auprès du Registre de Commerce et des Sociétés de Luxembourg sous le numéro B 63.994, étant
l'associé unique de INTRAWEST LUXEMBOURG HOLDINGS S.à r.l. (la «Société»), une société à responsabilité limitée
ayant son siège social au 16, avenue Pasteur, L-2310 Luxembourg, constituée le 14 février 2007 par acte du notaire Henri
Hellinckx, publié au Mémorial C, Recueil des Sociétés et Associations (le «Mémorial») numéro 871 du 14 mai 2007. Les
statuts de la Société ont été modifiés pour la dernière fois en date du 25 mai 2007 suivant acte reçu du notaire Henri
Hellinckx, publié au Mémorial numéro 1580 du 27 juillet 2007,

représentée par M

Toinon Hoss, maître en droit, résident à Luxembourg, en vertu d'une procuration datée du 31

octobre 2007.

La partie comparante a déclaré et requis le notaire d'acter ce qui suit:
1. La totalité du capital social représentée par cent soixante et un mille quatre cent quatre-vingts parts sociales

(161,480) est détenu par l'associé unique.

2. L'associé unique est représenté en vertu d'une procuration de sorte que toutes les parts sociales sont représentées

à cette décision extraordinaire de l'associé unique de sorte que toutes les décisions peuvent être valablement prises sur
tous les points de l'ordre du jour.

3. Les points sur lesquels les résolutions doivent être passées sont les suivants:

143623

(A) Changement des pouvoirs de signature des membres du Conseil de Gérance de la Société afin de prévoir différents

pouvoirs de signature A et B tels que rédigés ci-dessous et de modifier le dernier paragraphe de l'article 7 des statuts
comme suit:

«La Société sera engagée par la signature du gérant unique en cas d'un seul gérant, et dans le cas d'un conseil de gérance,

(B) Terminaison du mandat de Randal Nardone en tant que gérant de la Société; confirmation de Aidan Foley et

Georges Gudenburg en tant que gérants de classe B du conseil de gérance de la Société et nomination en tant que gérants
de classe A du conseil de gérance de la Société pour une durée indéterminée ayant les pouvoirs de signature tels que
rédigés dans l'article 7 modifié pour les signatures A et B:

Gérants de classe A:

- Linda Priest, certified public accountant, née le 6 août 1955 à Pasadena, Californie, Etats-Unis d'Amérique, avec

adresse professionnelle au 200 Burrard Street - Suite 800, Vancouver, BC, Canada V6C 3L6,

- David Eric Stiepleman, managing director, né le 23 juillet 1971 à New York, New York, Etats-Unis d'Amérique, avec

adresse professionnelle au 1345 Avenue of The Americas - 46th Floor New York, NY 10105.

Après délibération, il a été décidé à l'unanimité comme suit:

Première résolution

Il est décidé de changer les pouvoirs de signature des membres du Conseil de Gérance en prévoyant des pouvoirs

Deuxième résolution

Il est décidé de terminer le mandat de Randal Nardone en tant que gérant. Il est décidé de confirmer la nomination

de Mrs Aidan Foley et Georges Gudenburg en tant que gérants de classe B de la Société avec les pouvoirs de signature
tels que rédigés dans l'article 7 modifié pour les signatures A et B et de nommer Linda Priest and David Eric Stiepleman
en tant que gérants de classe A au conseil de gérance pour une durée indéterminée ayant les pouvoirs de signature tels
que rédigés dans l'article 7 modifié pour les signatures A et B de sorte que le Conseil de Gérance est composé comme
suit:

Gérants de Classe A:

- Linda Priest
- David Eric Stiepleman

Gérants de Classe B:

- Aidan Foley; and
- Georges Gudenburg.
Plus rien n'étant à l'ordre du jour l'assemblée fut clôturée.
Le notaire soussigné, qui comprend et parle anglais, précise qu'à la demande de la partie comparante, le procès-verbal

de l'assemblée est rédigé en anglais suivi d'une traduction française. En cas de conflit entre la version anglaise et la version
française, la version anglaise prévaut.

Le Receveur ff. (signé): F. Schnieder.

Pour expédition conforme, délivrée aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 16 novembre 2007.

J. Elvinger.

Référence de publication: 2007142744/211/138.
(070166034) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

143624

Financière Truck S.à r.l., Société à responsabilité limitée.

Siège social: L-2613 Luxembourg, 5, place du Théâtre.

R.C.S. Luxembourg B 122.128.

Statuts coordonnés déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Belvaux, le 29 novembre 2007.

J.-J. Wagner
Notaire

Référence de publication: 2007142527/239/12.
(070165475) Déposé au registre de commerce et des sociétés de Luxembourg, le 4 décembre 2007.

Sigla Luxembourg S.A., Société Anonyme.

Siège social: L-1882 Luxembourg, 5, rue Guillaume Kroll.

R.C.S. Luxembourg B 105.983.

Les statuts coordonnés suivant l'acte n° 47015 ont été déposés au registre de commerce et des sociétés de Luxem-

bourg.

J. Elvinger
Notaire

Référence de publication: 2007142528/211/11.
(070165643) Déposé au registre de commerce et des sociétés de Luxembourg, le 4 décembre 2007.

Iberofinance S.A., Société Anonyme.

Siège social: L-2138 Luxembourg, 24, rue Saint Mathieu.

R.C.S. Luxembourg B 73.499.

L'an deux mille sept, le treize novembre.
Par-devant Maître Henri Hellinckx, notaire, résidant à Luxembourg.

S'est réunie l'assemblée générale extraordinaire des actionnaires de la société anonyme IBEROFINANCE S.A., ayant

son siège social à L-8009 Strassen, 117, route d'Arlon, inscrite au Registre de Commerce et des Sociétés de et à Luxem-
bourg, section B sous le numéro 73.499, constituée suivant acte reçu par Maître Edmond Schroeder, alors notaire de
résidence à Mersch, en date du 28 décembre 1999, publié au Mémorial, Recueil des Sociétés et Associations C numéro
192 du 6 mars 2000.

L'assemblée est ouverte sous la présidence de Monsieur Régis Piva, employé privé, demeurant professionnellement à

Luxembourg.

Le Président désigne comme secrétaire Madame Annick Braquet, employée privée, demeurant professionnellement à

Luxembourg.

L'assemblée élit comme scrutateur Monsieur Benoit Lockman, employé privé, demeurant professionnellement à Lu-

xembourg.

Le président déclare et prie le notaire instrumentant d'acter:
I.- Que les actionnaires présents ou représentés, les mandataires des actionnaires représentés et le nombre d'actions

qu'ils détiennent sont renseignés sur une liste de présence, signée par le bureau de l'assemblée, les actionnaires présents,
les mandataires des actionnaires représentés et le notaire soussigné. Ladite liste de présence restera annexée au présent
acte pour être soumise avec lui aux formalités de l'enregistrement.

Les procurations des actionnaires représentés, après avoir été paraphées ne varietur par les comparants, resteront

également annexées au présent acte.

II.- Qu'il appert de cette liste de présence que toutes les actions représentant l'intégralité du capital social, sont

présentes ou représentées à la présente assemblée générale extraordinaire, de sorte que l'assemblée peut décider vala-
blement sur tous les points portés à l'ordre du jour, les actionnaires présents ou représentés se reconnaissant dûment
convoqués et déclarant par ailleurs avoir eu connaissance de l'ordre du jour qui leur a été communiqué au préalable.

III.- Que l'ordre du jour de la présente assemblée est le suivant:
1. Transférer le siège de la société du 117, route d'Arlon, L-8009 Strassen au 24, rue St. Mathieu, L-2138 Luxembourg.
2. Divers.
Ces faits exposés et reconnus exacts par l'assemblée cette dernière a pris à l'unanimité des voix les résolutions

suivantes:

143625

Première résolution

L'assemblée décide de transférer le siège social de la Société de L-8009 Strassen, 117, route d'Arlon à L-2138 Lu-

xembourg, 24, rue St. Mathieu et en conséquence de modifier l'article 1

, 2

ème

alinéa des statuts pour y refléter le

changement apporté suite au transfert de siège social ci-dessus, et de lui donner la teneur suivante:

«Le siège social est établi à Luxembourg»
Plus rien n'étant à l'ordre du jour, la séance est levée.

Evaluation des frais

Les parties ont évalué le montant des frais, dépenses, rémunérations et charges, sous quelque forme que ce soit, qui

incombent à la société ou qui sont mis à sa charge à raison des présentes, à environ EUR 600,-

Dont acte, fait et passé à Luxembourg, date qu'en tête des présentes.
Et après lecture et interprétation donnée par le notaire, les comparants prémentionnés ont signé avec le notaire

instrumentant le présent acte.

Signé: R. Piva, A. Braquet, B. Lockman, H. Hellinckx.
Enregistré à Luxembourg, le 16 novembre 2007, Relation: LAC/2007/35860. — Reçu 12 euros.

Le Receveur ff.

(signé): F. Schneider.

Pour copie conforme, délivrée aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 29 novembre 2007.

H. Hellinckx.

Référence de publication: 2007142666/242/53.
(070165921) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Catalux S.A., Société Anonyme.

Siège social: L-2138 Luxembourg, 24, rue Saint Mathieu.

R.C.S. Luxembourg B 107.390.

L'an deux mille sept, le treize novembre.
Par-devant Maître Henri Hellinckx, notaire, résidant à Luxembourg.

S'est réunie l'assemblée générale extraordinaire des actionnaires de la société anonyme CATALUX S.A., ayant son

siège social à L-8009 Strassen, 117, route d'Arlon, inscrite au Registre de Commerce et des Sociétés de et à Luxembourg,
section B sous le numéro 107.390, constituée suivant acte reçu par Maître Martine Decker, notaire de résidence à
Hesperange, en remplacement de Maître Paul Decker, notaire de résidence à Luxembourg-Eich, en date du 1

avril

2005, publié au Mémorial, Recueil des Sociétés et Associations C numéro 848 du 6 septembre 2005.

L'assemblée est ouverte sous la présidence de Monsieur Régis Piva, employé privé, demeurant professionnellement à

Luxembourg.

Le Président désigne comme secrétaire Madame Annick Braquet, employée privée, demeurant professionnellement à

Luxembourg.

L'assemblée élit comme scrutateur Monsieur Benoit Lockman, employé privé, demeurant professionnellement à Lu-

xembourg.

Le président déclare et prie le notaire instrumentant d'acter:
I.- Que les actionnaires présents ou représentés, les mandataires des actionnaires représentés et le nombre d'actions

Les procurations des actionnaires représentés, après avoir été paraphées ne varietur par les comparants, resteront

également annexées au présent acte.

II.- Qu'il appert de cette liste de présence que toutes les actions représentant l'intégralité du capital social, sont

suivantes:

143626

Première résolution

L'assemblée décide de transférer le siège social de la Société de L-8009 Strassen, 117, route d'Arlon à L-2138 Lu-

xembourg, 24, rue St. Mathieu et en conséquence de modifier l'article 2, 1

alinéa des statuts pour y refléter le

changement apporté suite au transfert de siège social ci-dessus, et de lui donner la teneur suivante:

«Le siège social est établi à Luxembourg.»
Plus rien n'étant à l'ordre du jour, la séance est levée.

Evaluation des frais

Les parties ont évalué le montant des frais, dépenses, rémunérations et charges, sous quelque forme que ce soit, qui

incombent à la société ou qui sont mis à sa charge en raison des présentes, à environ EUR 600,-.

Dont acte, fait et passé à Luxembourg, date qu'en tête des présentes.
Et après lecture et interprétation donnée par le notaire, les comparants prémentionnés ont signé avec le notaire

instrumentant le présent acte.

Signé: R. Piva, A. Braquet, B. Lockman, H. Hellinckx.
Enregistré à Luxembourg, le 16 novembre 2007, Relation: LAC/2007/35859. — Reçu 12 euros.

Le Receveur ff.

(signé): F. Schneider.

Pour copie conforme, délivrée aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 29 novembre 2007.

H. Hellinckx.

Référence de publication: 2007142665/242/53.
(070165914) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

CSP & P Holding S.A., Société Anonyme.

Siège social: L-1724 Luxembourg, 9B, boulevard du Prince Henri.

R.C.S. Luxembourg B 84.940.

DISSOLUTION

In the year two thousand seven, on the twenty-second day of October.
Before the undersigned Maître Elvinger, notary residing in Luxembourg.

There appeared:

FOXTREE CONSULTING LIMITED, residing in P.O Box 3174, Road Town, Tortola, British Virgin Islands,
Represented by Régis Galiotto, private employee, residing professionally in Luxembourg,
by virtue of a proxy given on the 22nd, October 2007, which, after having been signed ne varietur by the appearing

party and the undersigned notary, will be registered with this minute.

Such appearing party, acting in the said capacity, has requested the undersigned notary to state:
I. That the corporation CSP & P HOLDING S.A., having its principal office in L-1116 Luxembourg, 6, rue Adolphe,

RCS Luxembourg section B 84 940 has been incorporated pursuant to a deed of Maître Paul Bettingen on November
19th, 2001, published in the Mémorial C, Recueil des Sociétés et Associations, under number 516 of April 3rd, 2002;

II. That the capital of the corporation CSP & P HOLDING S.A. is fixed at thirty one thousand euro (31,000.- EUR)

represented by fifteen thousand five hundred (15,500) shares with a par value of two euro (2.- EUR) each, fully paid;

III. That the appearing party is the sole Shareholder of the Company CSP & P HOLDING S.A.;
IV. That the appearing party has decided to dissolve the company CSP & P HOLDING S.A. with immediate effect as

the business activity of the corporation has ceased;

V. That the company FOXTREE CONSULTING LIMITED, prenamed, being sole owner of the shares and liquidator

of CSP & P HOLDING S.A., declares:

- that all assets have been realised, that all assets have become the property of the sole shareholder;
- that all liabilities towards third parties known to the Company have been entirely paid or duly accounted for;
- regarding eventual liabilities presently unknown to the Company and not paid to date, that it is irrevocably assume

the obligation to pay for such liabilities;

VI. With the result that the liquidation of CSP & P HOLDING S.A.is to be considered closed;
VII. That full discharge is granted to the directors and the Statutory Auditor (Commissaire aux comptes) of the company

for the exercise of their mandates except than in cases of gross negligence or wilful misconduct;

VIII. That the books and documents of the corporation shall be lodged during a period of five years at L-1116 Lux-

embourg, 6, rue Adolphe.

IX. The undersigned notary, who knows English, states that on request of the appearing party, the present deed is

worded in English, followed by a French version and in case of discrepancies between the English and the French text,
the English version will be binding.

143627

Costs

The costs, expenses, remunerations or charges in any form whatsoever incumbent to the company and charged to it

by reason of the present deed are estimated approximately at 1,400.- EUR.

Whereof the present deed was drawn up in Luxembourg, on the day named at the beginning of this document.
The document having been read to the proxy holders of the person appearing, they signed together with the notary

the present deed.

Suit la traduction française du texte qui précède:

L'an deux mille sept, le vingt-deux octobre.
Par-devant Maître Elvinger, notaire de résidence à Luxembourg.

A comparu:

FOXTREE CONSULTING LIMITED, résidant P.O Box 3174, Road Town, Tortola, Iles Vierges Britanniques,
représentée par Régis Galiotto, employé privé, demeurant professionnellement à Luxembourg,
en vertu d'une procuration sous seing privé, donnée le 22 octobre 2007, laquelle, après avoir été signée ne varietur

par le mandataire comparant et le notaire instrumentant, restera annexée au présent acte pour être formalisée avec lui.

Laquelle comparante, ès qualités qu'elle agit, a requis le notaire instrumentant d'acter:
I. Que la société CSP & P HOLDING S.A., ayant son siège social à L-1116 Luxembourg, 6, rue Adolphe, RCS Luxem-

bourg section B 84.940 a été constituée suivant acte reçu par le notaire Maître Paul Bettingen en date du 19 novembre
2001, publié au Mémorial, Recueil des Sociétés et Associations, numéro 516 du 3 avril 2002;

II. Que le capital social de la société CSP & P HOLDING S.A., précitée, s'élève actuellement à trente et un mille euros

(31.000,- EUR) représenté par quinze mille cinq cents (15.500) actions d'une valeur nominale de deux euros (2,- EUR)
chacune, entièrement libérées;

III. Que la comparante, prénommée, étant devenu seule propriétaire des actions de la Société CSP & P HOLDING

S.A.;

IV. Que la comparante a décidé de dissoudre et de liquider la Société Anonyme CSP & P HOLDING S.A., celle-ci ayant

cessé toute activité;

V. Que la société FOXTREE CONSULTING LIMITED, prénommée, agissant tant en sa qualité de liquidateur de la

société CSP & P HOLDING S.A., qu'en tant qu'actionnaire unique, déclare:

- que tous les actifs ont été réalisés, que tous les actifs sont devenus la propriété de l'actionnaire unique;
- que tous les passifs connus de la société vis-à-vis des tiers ont été réglés entièrement ou dûment provisionnés;
- par rapport à d'éventuels passifs, actuellement inconnus de la société et non payés à l'heure actuelle, assumer irré-

vocablement l'obligation de les payer,

VI. De sorte que la liquidation de la société CSP & P HOLDING S.A. est à considérer comme clôturée.
VII. Que décharge pleine et entière est accordée aux administrateurs et du Commissaire aux Comptes, pour l'exercice

de leurs mandats respectifs à l'exception des cas de grande négligence et de méconduites totales;

VIII. Que les livres et documents de la société seront conservés pendant une durée de cinq années à L-1116 Luxem-

bourg, 6, rue Adolphe.

IX. Le notaire soussigné, qui a personnellement la connaissance de la langue anglaise, déclare que la comparante l'a

requis de documenter le présent acte en langue anglaise, suivi d'une version française, et en cas de divergence entre le
texte anglais et le texte français, le texte anglais fera foi.

Frais

Les frais, dépenses, rémunérations ou charges sous quelque forme que ce soit, incombant à la société et mis à sa charge

en raison de présentes, sont évalués approximativement à 1.400,- Euros.

Dont acte, fait et passé à Luxembourg, date qu'en tête des présentes.
Et après lecture faite et interprétation donnée à la comparante, celle-ci a signé le présent acte avec le notaire.
Signé: R. Galiotto, J. Elvinger.
Enregistré à Luxembourg, le 24 octobre 2007, Relation: LAC/2007/32403. - Reçu 12 euros.

Le Receveur (signé): F. Sandt.

Pour expédition conforme, délivrée aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 9 novembre 2007.

J. Elvinger.

Référence de publication: 2007142743/211/87.
(070165780) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

143628

Sigla Luxembourg S.A., Société Anonyme.

Siège social: L-1882 Luxembourg, 5, rue Guillaume Kroll.

R.C.S. Luxembourg B 105.983.

Les statuts coordonnés suivant l'acte n° 47020 ont été déposés au registre de commerce et des sociétés de Luxem-

bourg.

J. Elvinger
Notaire

Référence de publication: 2007142529/211/11.
(070165647) Déposé au registre de commerce et des sociétés de Luxembourg, le 4 décembre 2007.

Almatis Investment Holdings S. à r.l., Société à responsabilité limitée (en liquidation).

Capital social: EUR 1.931.775,00.

Siège social: L-2636 Luxembourg, 12-14, rue Léon Thyes.

R.C.S. Luxembourg B 105.227.

CLOTURE DE LIQUIDATION

Extrait

Suite à des résolutions de l'Associé Unique de la société du 16 novembre 2007, l'associé unique:
- Prononce la clôture de la liquidation et constate que la société a définitivement cessé d'exister:
- Décide que les livres et documents seront déposés et conservés pendant une durée de cinq ans à partir du 16

novembre 2007 au 12, rue Léon Thyes, L-2636 Luxembourg.

Luxembourg, le 20 novembre 2007.

Pour FAIRLAND PROPERTY LIMITED
Liquidateur
B. Zech
Directeur

Référence de publication: 2007142530/724/21.
Enregistré à Luxembourg, le 28 novembre 2007, réf. LSO-CK07494. - Reçu 14 euros.

Le Receveur (signé): G. Reuland.

(070165444) Déposé au registre de commerce et des sociétés de Luxembourg, le 4 décembre 2007.

Axolia SA., Société Anonyme.

Siège social: L-5811 Fentange, 119, rue de Bettembourg.

R.C.S. Luxembourg B 129.036.

Les statuts coordonnés suivant l'acte n° 49509 ont été déposés au registre de commerce et des sociétés de Luxem-

bourg.

J. Elvinger
Notaire

Référence de publication: 2007142533/211/11.
(070165572) Déposé au registre de commerce et des sociétés de Luxembourg, le 4 décembre 2007.

LBREP II Master S.à r.l., Société à responsabilité limitée.

Siège social: L-1736 Senningerberg, 1B, Heienhaff.

R.C.S. Luxembourg B 121.466.

Les statuts coordonnés suivant l'acte n° 49598 ont été déposés au registre de commerce et des sociétés de Luxem-

bourg.

J. Elvinger
Notaire

Référence de publication: 2007142535/211/11.
(070165577) Déposé au registre de commerce et des sociétés de Luxembourg, le 4 décembre 2007.

143629

Quorance Holding S.A., Société Anonyme Holding.

Siège social: L-2530 Luxembourg, 10A, rue Henri M. Schnadt.

R.C.S. Luxembourg B 98.577.

Statuts coordonnés en date du 19 décembre 2006 suite à un acte n° 742 devant Maître Jacques Delvaux, notaire de

résidence à Luxembourg, déposés au registre de commerce et des sociétés de Luxembourg.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

J. Delvaux
Notaire

Référence de publication: 2007142580/208/12.
(070166270) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Zitol Holding S.A., Société Anonyme Holding.

Siège social: L-2530 Luxembourg, 10A, rue Henri M. Schnadt.

R.C.S. Luxembourg B 98.582.

Statuts coordonnés, suite à une Assemblée Générale Extraordinaire en date du 19 octobre 2006, acte n° 741 par-

devant Maître Jacques Delvaux, notaire de résidence à Luxembourg, déposés au registre de commerce et des sociétés
de Luxembourg.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

J. Delvaux
Notaire

Référence de publication: 2007142582/208/13.
(070166272) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Mafluxinvest Holding S.A., Société Anonyme Holding.

Siège social: L-2530 Luxembourg, 10A, rue Henri M. Schnadt.

R.C.S. Luxembourg B 98.580.

Statuts coordonnés, suite à une Assemblée Générale Extraordinaire en date du 19 octobre 2006, acte n° 740 par-

devant Maître Jacques Delvaux, notaire de résidence à Luxembourg, déposés au registre de commerce et des sociétés
de Luxembourg.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

J. Delvaux
Notaire

Référence de publication: 2007142583/208/13.
(070166274) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Filpac S.A., Société Anonyme.

Siège social: L-2449 Luxembourg, 4, boulevard Royal.

R.C.S. Luxembourg B 76.993.

Le bilan et l'annexe au 31 décembre 2005, ainsi que les autres documents et informations qui s'y rapportent ont été

déposés au registre de commerce et des sociétés de Luxembourg.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 19 novembre 2007.

Pour FILPAC S.A.
Signatures
Le Domiciliataire

Référence de publication: 2007142982/565/16.
Enregistré à Luxembourg, le 29 novembre 2007, réf. LSO-CK08307. - Reçu 32 euros.

Le Receveur (signé): G. Reuland.

(070165809) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

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WB International Holdings VII S.à r.l., Société à responsabilité limitée.

Capital social: EUR 199.500,00.

Siège social: L-2163 Luxembourg, 33, avenue Monterey.

R.C.S. Luxembourg B 122.729.

Extrait des résolutions de l'Associé Unique en date du 30 octobre 2007

L'Associé Unique a décidé de prendre les résolutions suivantes:
- d'accepter la démission avec effet au 30 octobre 2007 de;
* Mr Francesco Biscarini, gérant B
- de nommer comme nouveau gérant B de la société avec effet au 30 octobre 2007, pour une durée illimitée;
* Mr Vincenzo Arnò, ayant pour adresse professionnelle 33, avenue Monterey, L- 2163 Luxembourg
- de transférer le siège social de la société du 8-10, rue Mathias Hardt, L-1717 Luxembourg au 33, avenue Monterey,

L-2163 Luxembourg

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 22 novembre 2007.

Pour WB INTERNATIONAL HOLDINGS VII S.à r.l.
Signature
Un mandataire

Référence de publication: 2007142881/1005/23.
Enregistré à Luxembourg, le 29 novembre 2007, réf. LSO-CK08327. - Reçu 14 euros.

Le Receveur (signé): G. Reuland.

(070166158) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Imar S.A., Société Anonyme.

Siège social: L-2449 Luxembourg, 15, boulevard Royal.

R.C.S. Luxembourg B 75.410.

Rapport de l'Assemblée Générale Extraordinaire

L'an deux mille sept, le 3 décembre.

Première résolution

L'assemblée décide de changer le siège de la société, la nouvelle adresse du siège étant 15, boulevard Royal - L-2449

Luxembourg.

Deuxième résolution

L'assemblée décide de nommer comme administrateur Monsieur Wolf-Dieter Mehnert demeurant via dei platini -

I-00069 Trevigano Romano

L'assemblée décide de révoquer Monsieur Jean Christophe Tressel comme Administrateur Délégué à la gestion jour-

nalière, et décide de nommer à sa place Monsieur Wolf-Dieter Mehnert demeurant via dei platini - I-00069 Trevigano
Romano (Roma) au même poste.

L'assemblée décide de nommer la société INTERNATIONAL FIDUCIARY TRUST S.A. dont le siège social est basé

au 15, boulevard Royal - L-2449 Luxembourg, comme commissaire au compte.

L'ordre du jour étant épuisé, Monsieur le Président prononce la clôture de l'assemblée.

Signature
Le Président

Référence de publication: 2007142882/5672/25.
Enregistré à Luxembourg, le 4 décembre 2007, réf. LSO-CL00896. - Reçu 89 euros.

Le Receveur (signé): G. Reuland.

(070165861) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Condor Property Europe Holding 1929 S.à r.l., Société à responsabilité limitée.

R.C.S. Luxembourg B 116.690.

Par la présente nous dénonçons le siège de la société CONDOR PROPERTY EUROPE HOLDING 1929 SARL, RC B

116.690 établi à l'adresse de notre Fiduciaire 24, rue Léon Kauffman à L-1853 Luxembourg-Cents.

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Luxembourg, le 7 novembre 2007.

ELIOLUX S.A.
R. Moris
Administrateur-délégué

Référence de publication: 2007142880/1801/14.
Enregistré à Luxembourg, le 30 novembre 2007, réf. LSO-CK08800. - Reçu 14 euros.

Le Receveur (signé): G. Reuland.

(070165940) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Uptake Financial S.A., Société Anonyme.

Siège social: L-2121 Luxembourg, 231, Val des Bons Malades.

R.C.S. Luxembourg B 73.953.

Il résulte du procès-verbal d'une réunion du Conseil d'Administration de la société tenue le 15 novembre 2007 que:
- La convention de domiciliation conclue entre SG AUDIT Sàrl (anc. STENHAM GESTINOR AUDIT Sàrl), 231, Val

des Bons Malades, L-2121 Luxembourg-Kirchberg, R.C.S. Luxembourg B 75.908 et la société UPTAKE FINANCIAL S.A.,
R.C.S. Luxembourg B 73.953 a été dénoncée avec effet à cette date.

Le siège social de la société fixé jusqu'alors au 231, Val des Bons Malades, L-2121 Luxembourg-Kirchberg, est par

conséquent également dénoncé.

- M. Gérard Muller, M. Marc Schmit et M. Fernand Heim se sont démis de leurs mandats d'administrateurs à cette

même date ainsi que le commissaire aux comptes, M. Marco Ries.

Pour extrait conforme
SG AUDIT Sàrl
Signature

Référence de publication: 2007142876/521/20.
Enregistré à Luxembourg, le 30 novembre 2007, réf. LSO-CK08854. - Reçu 14 euros.

Le Receveur (signé): G. Reuland.

(070166118) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Invivo S.à r.l. et Cie, S.e.c.s., Société en Commandite simple.

Siège social: L-2449 Luxembourg, 17, boulevard Royal.

R.C.S. Luxembourg B 133.896.

STATUTEN

Im Jahre zweitausendsieben, den 24. Oktober 2007.

Sind erschienen:

1. Der Komplementär, INVIVO S.à r.l., vertreten durch Herrn Albrecht Kiesow als deren Geschäftsführer
2. der Kommanditist Herr Albrecht Kiesow, wohnhaft Georg-Buchner-Str. 7, D-99974 Mühlhausen
Die Erschienenen beschließen durch Unterzeichnung folgender privatschriflichen Urkunde eine Kommanditgesellschaft

zu gründen:

Gesellschaftsvertrag der INVIVO S.à r.l. et CIE. S.e.c.s. (nachfolgend «Gesellschaft») in der Fassung vom 24. Oktober 2007

zwischen
Herrn Albrecht Kiesow, geb. 20. März 1960, wohnhaft: D-99974 Mühlhausen, Georg-Buchner-Str. 7 (Deutschland)
nachfolgend «Kommanditist»
und
INVIVO S.à r.l., Firmensitz: 17, boulevard Royal, L-2449 Luxemburg
nachfolgend «Komplementärin»

§ 1 Firma, Sitz

1. Es besteht hiermit zwischen den Unterzeichnern eine Kommanditgesellschaft. Die Gesellschaft hat die Rechtsform

einer luxemburgischen S.à r.l. et Cie, Société en commandite simple und führt die Firma INVIVO S.à r.l. et Cie, S.e.c.s.

2. Der Gesellschaftssitz wird in der Gemeinde Luxemburg im Großherzogtum Luxemburg festgelegt. Der Sitz kann

durch Beschluss der Gesellschafterversammlung an jeden anderen Ort des Großherzogtums Luxemburg verlegt werden.

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§ 2 Zweck des Unternehmens

1. Gegenstand des Unternehmens ist der An- und Verkauf von Edelmetallen, Nicht-Edelmetallen, Rohstoffen, Wert-

papieren, Schmuck, Antiquitäten, Kunst, Edelsteinen und Waren im eigenen Namen und für eigene Rechnung, die
Verarbeitung von Edelmetallen, Nicht-Edelmetallen und Rohstoffen im eigenen Namen und für eigene Rechnung.

2. Die Gesellschaft ist berechtigt, alle Geschäfte zu betreiben und alle Maßnahmen zu treffen, die dem vorstehenden

Unternehmensgegenstand mittelbar oder unmittelbar zu dienen geeignet sind.

§ 3 Dauer der Gesellschaft, Kündigung

1. Die Gesellschaft ist auf unbestimmte Zeit errichtet.
2. Die Gesellschaft kann von jedem Gesellschafter mit einer Frist von 3 Monaten zum Ende eines Geschäftsjahres,

frühestens aber mit Wirkung zum 31. Dezember 2008, sowie jederzeit aus wichtigem Grund gekündigt werden. Die
Kündigung hat schriftlich gegenüber den jeweils anderen Gesellschaftern zu erfolgen.

§ 4 Gesellschafter, Kapital der Gesellschaft, Gesellschafterkonten

1. Die Komplementärin haftet unbeschränkt für die Gesellschaftsverpflichtungen. Die Kommanditisten haften für die

Schulden und Verluste der Gesellschaft beschränkt, bis zur Höhe des von ihnen eingebrachten Gesellschaftskapitals.

2. Das Stammkapital der Gesellschaft beträgt EUR 1.000,00 (in Worten: eintausend Euro), eingeteilt in 1000 Anteile

zu je EUR 1,00 (in Worten: ein Euro).

3. Die Komplementärin erbringt eine Einlage von EUR 1,00 und ist am Vermögen der Gesellschaft mit 1 Anteil beteiligt.
4. Die Kommanditisten sind am Stammkapital wie folgt mit einer Kapitaleinlage beteiligt:
Herr Albrecht Kiesow mit EUR 999,00 (= 999 Anteile)
Die Kommanditisten erbringen ihre Kapitaleinlage durch Bareinlage unmittelbar nach Abschluss dieses Gesellschafts-

vertrags.

5. Die Kommanditisten führen der Gesellschaft bei entsprechendem Bedarf über die Leistung der Stammeinlagen hinaus

weiteres Eigenkapital durch Bareinzahlung in die Kapitalrücklage zu.

6. Nach dem Vorbild einer Kommanditgesellschaft deutschen Rechts werden für jeden Gesellschafter verschiedene

Gesellschafterkonten geführt: Ein festes Kapitalkonto (Konto I), das der Beteiligung am Stammkapital entspricht und
vorbehaltlich der Regelung in § 4.7 für die Beteiligung am Ergebnis und am Vermögen maßgeblich ist, ferner ein Kapital-
rücklagekonto, (Konto II), auf dem die sonstigen Einlagen der Gesellschafter verbucht werden, sodann ein Gewinnrück-
lagenkonto (Konto III) und außerdem ein Verlustvortragskonto (Konto IV). Die Einzahlungen in die Kapitalrücklage gemäß
§ 4.5 werden auf dem Konto II verbucht.

7. Jeder Gesellschaftsanteil gewährt das Recht auf einen anteiligen Betrag des Ergebnisses und des Gesellschaftsver-

mögens. Die Beteiligung der Gesellschafter am Ergebnis und am Gesellschaftsvermögen richtet sich daher nach dem
Verhältnis der festen Kapitalkonten (Konto I).

8. Sämtliche Konten gemäß § 4.6 werden nicht verzinst. Entnahmen aus dem Kapitalrücklagekonto (Konto II) sowie

dem Gewinnrücklagenkonto (Konto III) sind nur auf Grund eines Gesellschafterbeschlusses zulässig.

9. Des Weiteren wird für jeden Gesellschafter ein Verrechnungskonto (Konto V) eingerichtet, über das sich der

Zahlungsverkehr zwischen der Gesellschaft und den Gesellschaftern vollzieht. Guthaben und Verbindlichkeiten auf dem
Verrechnungskonto werden nur verzinst, wenn die Gesellschafter es einstimmig beschließen; in diesem Fall gelten die
Zinsen im Verhältnis der Gesellschafter zueinander als Aufwand bzw. Ertrag.

10. Vor einer Eintragung der Gesellschaft in das Handelsregister leisten die Kommanditisten ihre Einlage als atypisch

stille Gesellschaftereinlage in das Vermögen der Komplementärin. Die Kommanditisten unterhalten dementsprechend
bis zur Eintragung der Gesellschaft in das Handelsregister eine atypisch stille Gesellschaft zusammen mit der Komple-
mentärin. Im Zeitpunkt der Eintragung der Gesellschaft in das Handelsregister wird die atypisch stille Kapitaleinlage der
Kommanditisten als gesamthänderische Kapitaleinlage in das Gesellschaftsvermögen der Gesellschaft fortgeführt. Die
Kapitalkonten der Kommanditisten sind entsprechend fortzuführen.

§ 5 Geschäftsführung und Vertretung (Verwaltung), Wettbewerbsverbot

1. Zur Geschäftsführung und Vertretung (Verwaltung) ist ausschließlich die Komplementärin berechtigt und verpflich-

tet. Gegenüber Dritten ist die Komplementärin befugt, im Namen der Gesellschaft im weitesten Sinne zu handeln und
Verwaltungs- sowie Verfügungshandlungen vorzunehmen, welche dem Zweck der Gesellschaft dienen. Die Komplemen-
tärin vertritt die Gesellschaft rechtsgültig im Außenverhältnis.

2. Die Komplementärin und die Kommanditisten unterliegen keinem Wettbewerbsverbot. Alle Gesellschafter können

daher gleiche oder ähnliche Tätigkeiten für eigene oder fremde Rechnung - gleich in welcher Funktion - ausüben oder
sich an Unternehmen, die solche Tätigkeiten ausüben, beteiligen.

3. Die Gesellschafterversammlung kann sowohl für den Handel und die Verarbeitung gemäß § 2.1, als auch für die

Verwaltung eigenen Vermögens im Sinne des § 2.1 jeweils eine bei der Geschäftsführung und Vertretung zu beachtende
Anlagerichtlinie beschließen.

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§ 6 Vergütungen

Die Komplementärin erhält für die Übernahme der unbeschränkten Haftung eine jährliche Vergütung in Höhe von

EUR 500,00; im Rumpfgeschäftsjahr 2007 (vgl. § 8.1) ist die Haftungsvergütung zeitanteilig zu entrichten. Die Vergütung
gilt im Verhältnis zur Gesellschaft bzw. den übrigen Gesellschaftern als Aufwand bzw. Ertrag. Der Komplementärin werden
zusätzlich von der Gesellschaft sämtliche Ausgaben und Aufwendungen im Zusammenhang mit der Geschäftsführung der
Gesellschaft erstattet, sobald sie entstehen, jeweils zuzüglich etwaiger gesetzlicher Umsatzsteuer.

§ 7 Gesellschafterbeschlüsse

1. Gesellschafterbeschlüsse werden mit einfacher Mehrheit der abgegebenen Stimmen gefasst, soweit nicht zwingende

gesetzliche Bestimmungen eine andere Mehrheit verlangen. Je EUR 1,00 des Konto I gewährt eine Stimme.

2. Die Beschlüsse der Gesellschaft werden in Gesellschafterversammlungen gefasst. Gesellschafterversammlungen

werden von der Geschäftsführung der Komplementärin einberufen. Gesellschafterversammlungen finden am Sitz der
Gesellschaft oder einem anderen, von den Gesellschaftern einvernehmlich festgelegten Ort im Großherzogtum Luxem-
burg statt.

3. Gesellschafterbeschlüsse in Gesellschafterversammlungen werden von der Komplementärin protokolliert. Jeder

Kommanditist erhält eine Kopie der Niederschrift.

4. Jeder Gesellschafter kann sich in der Gesellschafterversammlung durch eine beruflich zur Verschwiegenheit ver-

pflichtete dritte Person, auch durch einen anderen Gesellschafter, vertreten lassen, der hierzu schriftlich zu bevollmäch-
tigen ist. Vollmachten sind dem Protokoll beizufügen.

§ 8 Geschäftsjahr, Ergebnisermittlung nach luxemburgischem Recht, Ergebnis- und Vermögensverteilung,

Einnahmenüberschussrechnung

1. Das Geschäftsjahr der Gesellschaft entspricht dem Kalenderjahr. Das erste Geschäftsjahr, das am 31. Dezember

2007 endet, ist ein Rumpfgeschäftsjahr.

2. Sofern nach luxemburgischem Recht zulässig, wird die Gesellschaft ihr Ergebnis durch eine Einnahmenüberschuss-

rechnung oder eine vergleichbare Cash-Flow-Rechnung ermitteln. Nur sofern es nach luxemburgischem Recht erforder-
lich ist, wird das Ergebnis durch Bilanzierung ermittelt, und die Komplementärin wird einen Jahresabschluss aufstellen,
den die Gesellschafterversammlung festzustellen hat.

3. Die Beteiligung am laufenden Ergebnis sowie die Beteiligung am Vermögen richten sich nach der Regelung in § 4.7.

Die gesetzlichen Vorschriften über die Haftungsbeschränkung der Kommanditisten bleiben unberührt.

4. Ein Jahresfehlbetrag ist bis zur Höhe eines Guthabens dem Gewinnrücklagekonto (Konto III) zu belasten. Soweit

danach ein Jahresfehlbetrag verbleibt, ist er auf die Verlustvortragskonten (Konto IV) zu buchen. Ein Jahresüberschuss ist
zunächst auf die Verlustvortragskonten zu buchen, bis diese ausgeglichen sind; der übersteigende Teil ist dem Verrech-
nungskonto (Konto V) gutzuschreiben. Die Gesellschafter können abweichend hiervon eine Verbuchung auf dem
Gewinnrücklagekonto (Konto III) beschließen. Jeder Gesellschafter darf Guthaben auf dem Verrechnungskonto jederzeit
entnehmen. Überziehungen des Verrechnungskontos bedürfen eines zustimmenden Beschlusses der Gesellschafter.

5. Unbeschadet der Regelungen in § 8.2-8.4 wird das Ergebnis der Gesellschaft für Zwecke der Besteuerung der

Gesellschafter nach deutschem Steuerrecht (§ 4 Abs. 3 EStG) in jedem Fall als Überschuss der Betriebseinnahmen über
die Betriebsausgaben ermittelt werden. Die Gesellschaft wird entsprechende Aufzeichnungen erstellen und Belege sam-
meln, die die Gesellschafter auf Anfrage einsehen können.

§ 9 Aufnahme neuer Gesellschafter, Übertragung von Gesellschaftsanteilen

1. Die Aufnahme neuer Gesellschafter bedarf einer zustimmenden Beschlussfassung der Gesellschafterversammlung.
2. Rechtsgeschäftliche Verfügungen eines Gesellschafters über seinen Gesellschaftsanteil oder Teilen hiervon bedürfen

zu ihrer Wirksamkeit eines zustimmenden Beschlusses aller anderen Gesellschafter. Eine Übertragung der Anteile führt
nicht zur Auflösung der Gesellschaft.

3. In Übereinstimmung mit Artikel 1690 des luxemburgischen Code Civil ist die Abtretung gegenüber der Gesellschaft

wirksam, wenn sie der Gesellschaft mitgeteilt wurde.

§ 10 Tod eines Kommanditisten

1. Stirbt ein Kommanditist, so wird das Gesellschaftsverhältnis mit seinen Erben fortgeführt.
2. Hat der verstorbene Gesellschafter letztwillig Testamentsvollstreckung angeordnet, so werden sämtliche Gesell-

schaftsrechte und -pflichten des verstorbenen Gesellschafters von dem oder den Testamentsvollstrecker(n) bis zur
Beendigung der Testamentsvollstreckung ausgeübt.

§ 11 Schlussbestimmungen

1. Die mit der Errichtung des Gesellschaftsvertrags und der Eintragung der Gesellschaft ins Handelsregister verbun-

denen Kosten und Abgaben aller Art trägt die Gesellschaft.

2. Dieser Gesellschaftsvertrag unterliegt dem Recht des Großherzogtums Luxemburg.
3. Ausschließlicher Gerichtsstand für alle Streitigkeiten aus und im Zusammenhang mit diesem Vertrag ist - soweit

gesetzlich zulässig - Luxemburg.

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4. Sollten einzelne Bestimmungen dieses Vertrages ganz oder teilweise unwirksam sein oder werden oder sollte sich

in dem Vertrag eine Lücke befinden, so soll hierdurch die Gültigkeit der übrigen Bestimmungen nicht berührt werden.
Anstelle der unwirksamen Bestimmung oder zur Ausfüllung der Lücke soll eine angemessene Regelung treten, die, soweit
rechtlich möglich, dem am nächsten kommt, was die Gesellschafter gewollt haben oder nach dem Sinn und Zweck dieses
Vertrages gewollt haben würden, wenn sie den fehlenden Punkt bedacht hätten.

5. Änderungen oder Ergänzungen dieses Vertrages bedürfen, soweit für sie nicht im Einzelfall gesetzlich zwingend eine

andere Form vorgeschrieben ist, der Schriftform; dies gilt auch für die Änderung dieser Bestimmung. Genügen sie dieser
Form nicht, sind sie nichtig.

6. Jeder Gesellschafter erhält eine Ausfertigung des Vertrages.
7. Nebenabreden - auch mündlicher Art - bestehen nicht.

Zeichnung und Einzahlung der Anteile

Die Erschienenen haben die Anteile wie folgt gezeichnet;

Anteile

€

Albrecht Kiesow, Kommanditist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

999

999,00

INVIVO Sarl, Komplementärin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1,00

Insgesamt:

1.000 1.000,00

Alle Anteile wurden einbezahlt, demgemäß verfügt die Gesellschaft ab sofort uneingeschränkt über einen Betrag von

EUR 1.000,- (eintausend Euro).

Schätzung der Gründungskosten

Die aus Anlass der Gründung anfallenden Kosten, Honorare und Auslagen werden auf EUR 1.200,00 geschätzt.

Außerordentliche Generalversammlung

Alsdann haben sich die Gesellschafter, die das gesamte Gesellschaftskapital vertreten, zu einer außerordentlichen

Generalversammlung zusammengefunden und haben einstimmig folgende Beschlüsse gefasst:

1) Die Gesellschafter beschließen den Sitz der Gesellschaft in 17, boulevard Royal, L-2449 Luxemburg, festzulegen.

Luxemburg, den 24. Oktober 2007.

A. Kiesow / für die Komplementärin
- / Unterschrift

Référence de publication: 2007142914/3580/166.
Enregistré à Luxembourg, le 9 novembre 2007, réf. LSO-CK01778. - Reçu 24 euros.

Le Receveur (signé): G. Reuland.

(070166056) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Le Win Property S.A., Société Anonyme.

Siège social: L-1653 Luxembourg, 2, avenue Charles de Gaulle.

R.C.S. Luxembourg B 127.478.

Extrait des décisions du Conseil d'administration du 31 août 2007

Le siège social de la société est transféré du 5, boulevard de la Foire à Luxembourg au 2, avenue Charles de Gaulle,

L-1653 Luxembourg.

L'adresse professionnelle des administrateurs est modifiée comme suit:
- Monsieur Claude Zimmer, licencié en droit et maître en sciences économiques, demeurant professionnellement au

2, avenue Charles de Gaulle, L-1653 Luxembourg

- Monsieur John Seil, licencié en sciences économiques appliquées, demeurant professionnellement au 2, avenue Char-

les de Gaulle, L-1653 Luxembourg

- Monsieur Pierre Lentz, licencié en sciences économiques, demeurant professionnellement au 2, avenue Charles de

Gaulle, L-1653 Luxembourg.

Luxembourg, le 20 novembre 2007.

Pour extrait conforme
Signature

Référence de publication: 2007143003/534/22.
Enregistré à Luxembourg, le 27 novembre 2007, réf. LSO-CK07357. - Reçu 14 euros.

Le Receveur (signé): G. Reuland.

(070165881) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

143635

Klatone, Société Anonyme Holding.

Siège social: L-2120 Luxembourg, 16, allée Marconi.

R.C.S. Luxembourg B 85.361.

Le bilan au 31 décembre 2006 a été déposé au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 4 décembre 2007.

FIDUCIAIRE CONTINENTALE S.A.
Signature

Référence de publication: 2007142998/504/14.
Enregistré à Luxembourg, le 29 novembre 2007, réf. LSO-CK08061. - Reçu 16 euros.

Le Receveur

(signé): G. Reuland.

(070165834) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Antenor S.A., Société Anonyme.

Siège social: L-1219 Luxembourg, 17, rue Beaumont.

R.C.S. Luxembourg B 57.173.

Le bilan au 31 décembre 2006 a été déposé au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 4 décembre 2007.

ANTENOR S.A.
L. Vegas-Pieroni / M.-F. Ries-Bonani
Administrateur / Administrateur

Référence de publication: 2007142994/545/15.
Enregistré à Luxembourg, le 27 novembre 2007, réf. LSO-CK07103. - Reçu 22 euros.

Le Receveur (signé): G. Reuland.

(070165826) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

San Investment S.A., Société Anonyme.

Siège social: L-2227 Luxembourg, 23, avenue de la Porte-Neuve.

R.C.S. Luxembourg B 103.300.

Extrait du procès-verbal de l'assemblée générale extraordinaire qui s'est tenue le 16 juillet 2007 à 10.00 heures

Résolutions:
- L'Assemblée Générale prend acte de la démission en date du 6 juin 2007 de Mr Yves Van Renterghem, Mr Daniel

Van Meerbeeck et Mr Ernest Van Turenhout de leur poste d'administrateur (lettres de démission en annexe).

- L'Assemblée Générale décide à l'unanimité de nommer comme administrateur:
- M. Joseph Winandy, 92, rue de l'horizon, Itzig
- M. Jean Quintus, 11, rue de Fischbach, Blaschette
COSAFIN S.A., Société Anonyme dont le siège social est 23, avenue de la Porte-Neuve, Luxembourg, représentée par

M. Jacques Bordet.

pour terminer le mandat des administrateurs démissionnaires. Leur mandat viendra donc à échéance à l'Assemblée

Générale Ordinaire qui examinera les comptes clôturés au 31 décembre 2009.

- L'Assemble Générale décide à l'unanimité de transférer le siège social de la société au 23, avenue de la Porte-Neuve,

L-2227 Luxembourg.

Pour copie conforme
Signature / Signature
Administrateur / Administrateur

Référence de publication: 2007142999/1172/25.
Enregistré à Luxembourg, le 11 octobre 2007, réf. LSO-CJ04436. - Reçu 14 euros.

Le Receveur (signé): G. Reuland.

(070165865) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

143636

Narol Investment S.A.H., Société Anonyme.

Siège social: L-1150 Luxembourg, 291, route d'Arlon.

R.C.S. Luxembourg B 40.829.

Il résulte des résolutions prises par le conseil d'administration de la Société, le 12 novembre 2007 que le siège social

de la Société a été transféré avec effet au 1

décembre 2007 du 20, avenue Monterey, L-2163 Luxembourg vers le 291,

route d'Arlon, L-1150 Luxembourg.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Fait à Luxembourg, le 12 novembre 2007.

Pour la société
Signature
Un mandataire

Référence de publication: 2007143000/1035/17.
Enregistré à Luxembourg, le 30 novembre 2007, réf. LSO-CK08718. - Reçu 14 euros.

Le Receveur

(signé): G. Reuland.

(070166248) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Uplace Management S.A., Société Anonyme,

(anc. Capucine S.A.).

Siège social: L-1720 Luxembourg, 8, rue Heinrich Heine.

R.C.S. Luxembourg B 118.203.

Le bilan et l'annexe au 31 décembre 2006, ainsi que les autres documents et informations qui s'y rapportent, ont été

déposés au registre de commerce et des sociétés de Luxembourg.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 21 novembre 2007.

Pour UPLACE MANAGEMENT S.A.
B. Verbaeghe / L. Verelst
Administrateur / Administrateur

Référence de publication: 2007142991/565/17.
Enregistré à Luxembourg, le 29 novembre 2007, réf. LSO-CK08324. - Reçu 32 euros.

Le Receveur (signé): G. Reuland.

(070165820) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Dierickx, Leys Luxembourg S.A., Société Anonyme.

Siège social: L-1150 Luxembourg, 247, route d'Arlon.

R.C.S. Luxembourg B 55.067.

Extrait du Procès-verbal de l'Assemblée Générale Ordinaire des Actionnaires tenue au siège de la société en date du 10 avril 2007

à 15 heures

Après délibération, l'Assemblée, à l'unanimité, décide:
- PKF ABAX AUDIT remplace le Réviseur d'entreprise ERNST & YOUNG S.A. représenté par Daniel Meis avec effet

au 27 juillet 2007.

- de renouveler les mandats des Administrateurs Monsieur Wilfried Dierickx, Madame Monique Leys et Monsieur Dirk

Abeloos jusqu'à l'assemblée générale de 2008.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Pour extrait conforme
Signature / Signature
Un administrateur / Un administrateur

Référence de publication: 2007143533/1990/20.
Enregistré à Luxembourg, le 6 décembre 2007, réf. LSO-CL01684. - Reçu 89 euros.

Le Receveur (signé): G. Reuland.

(070166902) Déposé au registre de commerce et des sociétés de Luxembourg, le 6 décembre 2007.

143637

IF TOP Sàrl, Société à responsabilité limitée.

Capital social: EUR 12.500,00.

Siège social: L-2320 Luxembourg, 69, boulevard de la Pétrusse.

R.C.S. Luxembourg B 114.300.

Extrait des résolutions prises à l'assemblée générale ordinaire annuelle de la société tenue en date du 13 novembre 2007

1. Le mandat des gérants:
a) Monsieur Stephen Lawrence, demeurant 6, ruelle des Chambres Chaudes, CH-1271 Givrins, gérant;
b) Madame Samia Rabia, demeurant 69, boulevard de la Pétrusse, L-2320 Luxembourg, gérant;
c) Monsieur Pii Ketvel, demeurant 20 C, boulevard Emmanuel Servais, L-2535 Luxembourg, gérant;
d) Monsieur Michael Chidiac, demeurant 41, boulevard Royal, L-2449 Luxembourg, gérant.
e) Monsieur François Brouxel, né le 16 septembre 1966 à Metz (France), avocat à la Cour, demeurant à L-2320

Luxembourg, 69, boulevard de la Pétrusse, gérant;

est renouvelé jusqu'à l'issue de la prochaine assemblée générale ordinaire de la Société statuant sur les comptes clos

au 31 décembre 2007.

2. L'assemblée générale des actionnaires a décidé de ne pas renouveler le mandat de la société OPTIO EXPERT

COMPTABLE ET FISCAL S.à r.l., établie et ayant son siège social à L-1130 Luxembourg, 37, rue d'Anvers, immatriculée
au R.C.S. de Luxembourg sous le numéro B 97.326, commissaire aux comptes.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 21 novembre 2007.

Signature.

Référence de publication: 2007143063/280/25.
Enregistré à Luxembourg, le 29 novembre 2007, réf. LSO-CK08196. - Reçu 14 euros.

Le Receveur (signé): G. Reuland.

(070166009) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

IG Log 2 S.à r.l., Société à responsabilité limitée.

Capital social: EUR 729.500,00.

Siège social: L-2320 Luxembourg, 69, boulevard de la Pétrusse.

R.C.S. Luxembourg B 117.030.

Extrait des résolutions prises à l'assemblée générale ordinaire annuelle de la société tenue en date du 13 novembre 2007

Luxembourg, 69, boulevard de la Pétrusse, gérant;

est renouvelé jusqu'à l'issue de la prochaine assemblée générale ordinaire de la Société statuant sur les comptes clos

au 31 décembre 2007.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 21 novembre 2007.

Signature.

Référence de publication: 2007143056/280/22.
Enregistré à Luxembourg, le 29 novembre 2007, réf. LSO-CK08199. - Reçu 14 euros.

Le Receveur (signé): G. Reuland.

(070166015) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

IS EF Two S.à r.l., Société à responsabilité limitée.

Capital social: EUR 32.526.175,00.

Siège social: L-2320 Luxembourg, 69, boulevard de la Pétrusse.

R.C.S. Luxembourg B 117.042.

Extrait des résolutions prises à l'assemblée générale ordinaire annuelle de la société tenue en date du 13 novembre 2007

1. Le mandat des gérants:

143638

a) Monsieur Stephen Lawrence, demeurant 6, ruelle des Chambres Chaudes, CH-1271 Givrins, gérant;
b) Madame Samia Rabia, demeurant 69, boulevard de la Pétrusse, L-2320 Luxembourg, gérant;
c) Monsieur Pii Ketvel, demeurant 20 C, boulevard Emmanuel Servais, L-2535 Luxembourg, gérant;
d) Monsieur François Brouxel, demeurant 69, boulevard de la Pétrusse, L-2320 Luxembourg, gérant;
e) Monsieur Michael Chidiac, demeurant 41, boulevard Royal, L-2449 Luxembourg, gérant.
est renouvelé jusqu'à l'issue de la prochaine assemblée générale ordinaire de la Société statuant sur les comptes clos

au 31 décembre 2007.

2. L'assemblée générale des actionnaires a décidé de ne pas renouveler le mandat de la société OPTIO EXPERT-

COMPTABLE ET FISCAL S.à r.l., établie et ayant son siège social à L-1130 Luxembourg, 37, rue d'Anvers, immatriculée
au R.C.S. de Luxembourg sous le numéro B 97.326, commissaire aux comptes.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 21 novembre 2007.

Signature.

Référence de publication: 2007143049/280/24.
Enregistré à Luxembourg, le 29 novembre 2007, réf. LSO-CK08220. - Reçu 14 euros.

Le Receveur

(signé): G. Reuland.

(070166032) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

IS Eurologistics Fund S.à r.l., Société à responsabilité limitée.

Capital social: EUR 26.354.300,00.

Siège social: L-2320 Luxembourg, 69, boulevard de la Pétrusse.

R.C.S. Luxembourg B 117.031.

Extrait des résolutions prises à l'assemblée générale ordinaire annuelle de la société tenue en date du 13 novembre 2007

1. Le mandat des gérants:
a) Monsieur Stephen Lawrence, demeurant 6, ruelle des Chambres Chaudes, CH-1271 Givrins, gérant;
b) Madame Samia Rabia, demeurant 69, boulevard de la Pétrusse, L-2320 Luxembourg, gérant;
c) Monsieur Pii Ketvel, demeurant 20 C, boulevard Emmanuel Servais, L-2535 Luxembourg, gérant;
d) Monsieur François Brouxel, demeurant 69, boulevard de la Pétrusse, L-2320 Luxembourg, gérant;
e) Monsieur Michael Chidiac, demeurant 41, boulevard Royal, L-2449 Luxembourg, gérant.
est renouvelé jusqu'à l'issue de la prochaine assemblée générale ordinaire de la Société statuant sur les comptes clos

au 31 décembre 2007.

2. L'assemblée générale des actionnaires a décidé de ne pas renouveler le mandat de la société OPTIO EXPERT-

COMPTABLE ET FISCAL S.à r.l., établie et ayant son siège social à L-1130 Luxembourg, 37, rue d'Anvers, immatriculée
au R.C.S. de Luxembourg sous le numéro B 97.326, commissaire aux comptes.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 21 novembre 2007.

Signature.

Référence de publication: 2007143048/280/24.
Enregistré à Luxembourg, le 29 novembre 2007, réf. LSO-CK08222. - Reçu 14 euros.

Le Receveur (signé): G. Reuland.

(070166046) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Vasterudd S.A., Société Anonyme.

Siège social: L-1724 Luxembourg, 9B, boulevard du Prince Henri.

R.C.S. Luxembourg B 122.783.

Les comptes annuels au 31 décembre 2006 ont été déposés au registre de commerce et des sociétés de Luxembourg.
Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

F. Mangen
Administrateur

Référence de publication: 2007143688/750/13.
Enregistré à Luxembourg, le 30 novembre 2007, réf. LSO-CK08749. - Reçu 24 euros.

Le Receveur (signé): G. Reuland.

(070166895) Déposé au registre de commerce et des sociétés de Luxembourg, le 6 décembre 2007.

143639

IS Eurologistics Investments Sàrl, Société à responsabilité limitée.

Capital social: EUR 16.218.400,00.

Siège social: L-2320 Luxembourg, 69, boulevard de la Pétrusse.

R.C.S. Luxembourg B 118.257.

Extrait des résolutions prises à l'assemblée générale ordinaire annuelle de la société tenue en date du 13 novembre 2007

1. Le mandat des gérants:
a) Monsieur Stephen Lawrence, demeurant 6, ruelle des Chambres Chaudes, CH-1271 Givrins, gérant;
b) Madame Samia Rabia, demeurant 69, boulevard de la Pétrusse, L-2320 Luxembourg, gérant;
c) Monsieur Pii Ketvel, demeurant 20C, boulevard Emmanuel Servais, L-2535 Luxembourg, gérant;
d) Monsieur François Brouxel, demeurant 69, boulevard de la Pétrusse, L-2320 Luxembourg, gérant;
e) Monsieur Michael Chidiac, demeurant 41, boulevard Royal, L-2449 Luxembourg, gérant.
est renouvelé jusqu'à l'issue de la prochaine assemblée générale ordinaire de la Société statuant sur les comptes clos

au 31 décembre 2007.

2. L'assemblée générale des actionnaires a décidé de ne pas renouveler le mandat de la société OPTIO EXPERT-

COMPTABLE ET FISCAL S.à r.l, établie et ayant son siège social à L-1130 Luxembourg, 37, rue d'Anvers, immatriculée
au R.C.S. de Luxembourg sous le numéro B 97.326, commissaire aux comptes.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 21 novembre 2007.

Signature.

Référence de publication: 2007143047/280/24.
Enregistré à Luxembourg, le 29 novembre 2007, réf. LSO-CK08228. - Reçu 14 euros.

Le Receveur (signé): G. Reuland.

(070166059) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

IHL, Société Anonyme.

Siège social: L-1720 Luxembourg, 8, rue Heinrich Heine.

R.C.S. Luxembourg B 105.317.

Le bilan et l'annexe au 31 décembre 2006, ainsi que les autres documents et informations qui s'y rapportent, ont été

déposés au registre de commerce et des sociétés de Luxembourg.

Pour mention aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 21 novembre 2007.

Pour IHL
L. Verelst / N. Boets
Administrateur / Administrateur

Référence de publication: 2007142990/565/16.
Enregistré à Luxembourg, le 29 novembre 2007, réf. LSO-CK08320. - Reçu 32 euros.

Le Receveur (signé): G. Reuland.

(070165819) Déposé au registre de commerce et des sociétés de Luxembourg, le 5 décembre 2007.

Asset Backed Investments S.A., Société Anonyme de Titrisation.

Siège social: L-1855 Luxembourg, 46A, avenue J.F. Kennedy.

R.C.S. Luxembourg B 96.778.

In the year two thousand seven, on the twenty-second day of the month of October.
Before us, Maître Henri Hellinckx, notary, residing in Luxembourg (Grand Duchy of Luxembourg).

Was held an extraordinary general meeting of shareholders of ASSET BACKED INVESTMENTS S.A., a société ano-

nyme governed by the laws of the Grand Duchy of Luxembourg, having its registered office at 46A, avenue John F.
Kennedy, L-1855 Luxembourg, incorporated following a deed of the undersigned notary, then residing in Mersch, of 22
October 2003, published in the Mémorial C, Recueil des Sociétés et Associations, on 2 December 2003, number 1277
and registered with the Luxembourg Register and Companies under number B 96778 (the «Company»). The articles of
incorporation of the Company have been last amended following a deed of the undersigned notary, then residing in
Mersch, on 24 November 2003, published in Mémorial C, Recueil des Sociétés et Associations, on 13 January 2004,
number 41.

143640

The meeting is called to order by Maître Laurent Schummer, lawyer, with professional address in Luxembourg (the

«Chairman»).

The Chairman appoints as secretary of the meeting Maître Frédéric Franckx, lawyer, with professional address in

Luxembourg.

The meeting appoints as scrutineer of the meeting Maître Michael Jonas, lawyer, with professional address in Luxem-

bourg.

The board of the meeting having thus been constituted, the Chairman declared and requested the notary to state:
I. The agenda of the meeting is as follows:

Agenda:

1 To convert the Company into a securitisation vehicle governed by the laws of the Grand Duchy of Luxembourg,

especially by the law of August 10, 1915 on commercial companies, as amended, and by the law of March 22, 2004 on
securitisation and acknowledgement of this conversion.

2 To increase the issued capital of the Company by an amount of one hundred ninety-seven thousand one hundred

Australian dollars (AUD 197,100.-) so as to raise it from its present amount of six hundred sixty-nine thousand six hundred
Australian dollars (AUD 669,600.-) to eight hundred sixty-six thousand seven hundred Australian dollars (AUD 866,700.-),
by the creation and the issue of two hundred five (205) D shares and one hundred sixty (160) E shares with a par value
of five hundred forty Australian dollars (AUD 540.-) per share and having the rights and obligations attached hereto
following the restatement of the Company's articles of incorporation.

3 To acknowledge the waiver by the current shareholders of the Company, ABN AMRO BANK N.V., ABI EUROPE

No. 1 PTY LIMITED and CommInternational LIMITED, of their preferential subscription rights in relation to the issuance
of the D and E shares.

4 To issue to ABN AMRO BANK N.V. two hundred five (205) D shares and one hundred sixty (160) E shares with a

nominal value of five hundred forty Australian dollars (AUD 540.-) each, having the rights and obligations attached hereto
following the restatement of the Company's articles of incorporation.

5 To accept subscription for and full payment in cash of two hundred five (205) D shares and one hundred sixty (160)

E shares by ABN AMRO BANK N.V., together with a share premium.

6 To issue to ABN AMRO BANK N.V. five (5) class C beneficial shares having the rights and obligations attached

hereto following the restatement of the Company's articles of incorporation, after having resolved to dispense with any
evaluation report by an independent auditor regarding the issuance of the five (5) class C beneficial shares.

7 To accept subscription by ABN AMRO BANK N.V. for five (5) class C beneficial shares by contribution in cash.
8 To fully restate the articles of incorporation of Company, including the corporate object to read as follows:
«4 Object.
4.1 The corporate object of the Company is the entering into and the performance of any transaction permitted under

the Applicable Law, including, inter alia, the acquisition and assumption by any means, directly or through another vehicle,
of risks linked to claims, other assets, moveable or immoveable, tangible or intangible, receivables or liabilities of third
parties or pertaining to all or part of the activities carried out by third parties and the issuing of securities the value or
return of which is dependent upon such risks as defined in the Applicable Law.

4.2 It may, in particular:
(a) acquire by way of subscription, purchase, exchange or in any other manner and/or assume risks relating to the

following assets:

(i) with the proceeds of subscription for and issue of the PESCs, and as assets to be held in Compartment 1, the Senior

Class A2 Mortgage-Backed Notes 2002 due 2035 issued by EUROPEAN MORTGAGE SECURITIES IV B.V. (the «EMS IV
Notes»), via the holding of the Secured Fixed Rate Callable Notes issued by CHESS LIMITED (the «CHESS Notes»);

(ii) with the proceeds of subscription for and issue of the E Shares, and as assets to be held in Compartment 3,

instruments issued under the European Mortgage Securities VII B.V. Compartment 2006-II (Aaa/AAA/AAA) programme
(the «EMS VII Notes»), via the acquisition and holding of an AUD denominated credit linked note issued by ABN AMRO
BANK N.V. (the «EMS VII NOTES CLN»);

(iii) with D Share Capital that is the proceeds of subscription for and issue of D Shares, and as assets to be held in

Compartment 2, the Series A2 AAA rated euro denominated notes issued under the BBVA RMBS 3, Fondo de Titulizacion
de Activos €3bn Prime Spanish RMBS programme (the «BBVA Notes»);

(iv) with D Share Capital that is the proceeds of subscription for and issue of D Shares, and as assets to be held in

Compartment 2, any other Qualifying Securities that satisfy the Investment Criteria («Tranche 2 Notes»);

(v) with funds in Compartment 2 that are the proceeds of principal repayments received under the BBVA Notes or

the Tranche 2 Notes or any other Approved Asset in Compartment 2, and as assets to be held in Compartment 2,
Qualifying Securities that satisfy the Investment Criteria («D Share Reinvestment Assets»);

(vi) any other instrument or investment as has been unanimously approved by the Board of Directors in accordance

with Article 12,

143641

(which assets, together with any Incidental Assets, are the «Approved Assets»);
(b) exercise all rights whatsoever attached to the Approved Assets and risks;
(c) grant security interests over its Approved Assets to the extent permitted by the Applicable Law as permitted by

these Articles and any Company Agreement, and otherwise with the unanimous approval of the Board of Directors in
accordance with Article 12;

(d) borrow or obtain other financial accommodation from a member of the CBA GROUP;
(e) the proceeds of the issue of shares, bonds, notes and other equity or debt securities, in order to purchase, subscribe

for or grant loans in connection with investments, whether directly or indirectly, in any or all of the Approved Assets;
and

(f) transfer any of its Approved Assets against due consideration as permitted by these Articles and any Company

Agreement, and otherwise with the unanimous approval of the Board of Directors in accordance with Article 12.

4.3 Solely for purposes directly relating to the acquisition, holding and disposal of Approved Assets in accordance with

these Articles and within the limitations set by the Applicable Law, the Company may enter into cross-currency swaps
and interest rate swaps, put options and call options with respect to any Approved Assets, open, maintain and close bank
and custody accounts for the holding of cash and Approved Assets, and undertake any other financial or commercial
transactions, and all administrative actions, that may be incidental to or conducive to the attainment of those purposes
(all assets so created being «Incidental Assets»).

4.4 The Company may carry out any transactions, whether commercial or financial which are directly or indirectly

connected with its corporate object at the exclusion of any banking activity and engage in any lawful act or activity and
exercise any powers permitted for securitisation vehicles under the Applicable Law, that, in either case, are incidental to
and necessary or convenient for the accomplishment of the above mentioned purposes; provided that they are not
contrary to the foregoing purposes, nor to those above stated in Article 4.2, and are not otherwise prohibited by any
Company Agreement.»

9 Miscellaneous.
II. That the shareholders of the Company duly present or represented and the number of their shares are shown on

an attendance list; that attendance list, signed by the proxies of the represented shareholders and by the board of the
meeting, will remain annexed to the present deed to be filed at the same time with the registration authorities.

The proxies of the represented shareholders, initialled ne varietur by the appearing persons, will also remain annexed

to the present deed.

III. That it appears from the said attendance list that all the shares representing the total capital are represented at the

meeting. The shareholders represented declare that they had due notice and knowledge of the agenda prior to this
meeting, so that no convening notice was necessary.

IV. That the present meeting representing the whole corporate capital is regularly constituted and may validly deliberate

on all the items on the agenda.

Then the general meeting, after deliberation, took each time unanimously the following resolutions:

First resolution

The general meeting of shareholders resolves to convert the Company into a securitisation vehicle governed by the

laws of the Grand Duchy of Luxembourg, especially by the law of 10 August 1915 on commercial companies, as amended,
and by the law of 22 March 2004 on securitisation.

Acknowledgement

The general meeting of shareholders resolves to acknowledge that the Company is a securitisation vehicle governed

by the law of 22 March 2004 on securitisation.

Second resolution

The general meeting resolves to increase the capital of the Company by an amount of one hundred ninety-seven

thousand one hundred Australian dollars (AUD 197,100.-) so as to raise it from its present amount of six hundred sixty
nine thousand six hundred Australian dollars (AUD 669,600.-) to eight hundred sixty-six thousand seven hundred Aus-
tralian dollars (AUD 866,700.-), by the creation and the issue two hundred five (205) D shares and one hundred sixty
(160) E shares with a par value of five hundred forty Australian dollars (AUD 540.-) per share and having the rights and
obligations attached hereto following the restatement of the Company's articles of incorporation.
Third resolution

The general meeting of shareholders resolves to acknowledge the waiver by the current shareholders of the Company,

ABN AMRO BANK N.V., ABI EUROPE No. 1 PTY LIMITED AND CommInternational LIMITED, of their preferential
subscription rights in relation to the issuance of the D and E shares.

Fourth resolution

The general meeting of shareholders resolves to issue to ABN AMRO BANK N.V two hundred five (205) D shares

and one hundred sixty (160) E shares with a nominal value of five hundred forty Australian dollars (AUD 540.-) each,
having the rights and obligations attached hereto following the restatement of the Company's articles of incorporation.

143642

Fifth resolution

Subscription payment

Thereupon now appeared Me Laurent Schummer, aforementioned, acting in his capacity as duly authorised attorney-

in-fact of ABN AMRO BANK N.V., aforementioned, by virtue of a proxy given under private seal.

The person appearing declared to subscribe in the name and on behalf of ABN AMRO BANK N.V., aforementioned,

acting in its capacity as subscriber (the «Subscriber»), for:

- two hundred five (205) D shares with a nominal value of five hundred forty Australian dollars (AUD 540.-) each,

issued by the Company and to fully pay in the par value of said shares by a contribution in cash, together with a share
premium of seven hundred forty-nine million eight hundred ninety thousand Australian dollars (AUD 749,890,000.-), i.e.
an aggregate amount of seven hundred fifty million seven hundred Australian dollars (AUD 750,000,700.-), and

- one hundred sixty (160) E shares with a nominal value of five hundred forty Australian dollars (AUD 540.-) each

issued by the Company and to fully pay in the par value of said shares by a contribution in cash, together with a share
premium of seven hundred forty-nine million nine hundred twenty thousand Australian dollars (AUD 749,920,000.-), i.e.
an aggregate amount of seven hundred fifty million six thousand four hundred Australian dollars (AUD 750,006,400.-).

The amount of one billion five hundred million seven thousand one hundred Australian dollars (AUD 1,500,007,100.-)

is thus as from now at the disposal of the Company, evidence thereof having been submitted to the undersigned notary.

Thereupon, the Shareholders resolved to accept said subscription and payment and to allot the two hundred five (205)

D shares and one hundred sixty (160) E shares to the Subscriber as shares which have been fully paid in.

Sixth resolution

The general meeting of shareholders resolves to issue to the Subscriber five (5) class C beneficial shares having the

rights and obligations attached hereto following the restatement of the Company's articles of incorporation, after having
resolved to dispense with any evaluation report by an independent auditor regarding the issuance of the five (5) class C
beneficial shares.

Seventh resolution

Subscription payment

Thereupon now appeared Me Laurent Schummer, aforementioned, acting in his capacity as duly authorised attorney-

in-fact of the Subscriber, aforementioned, by virtue of a proxy given under private seal.

The person appearing declared to subscribe in the name and on behalf of the Subscriber, aforementioned, acting in its

capacity as subscriber, for five (5) class C beneficial shares each issued by the Company and pay the said Class C Beneficial
Shares by contribution in cash.

The amount of twenty-three point seventy-five Australian dollars (AUD 23.75) is thus as from now at the disposal of

the Company, evidence thereof having been submitted to the undersigned notary.

Thereupon, the Shareholders resolved to accept the said subscription and payment and to allot the five (5) class C

beneficial shares to the Subscriber.

Eighth resolution

The general meeting of shareholders resolves to fully restate the articles of incorporation, including the corporate

object, to forthwith read as follows:

«Definitions
The meanings of capitalised terms used in these Articles are given in Schedule 1 «Definitions Schedule» set out at the

end of these Articles.

1. Form, Name.
1.1 The Company is a société anonyme governed by the laws of the Grand Duchy of Luxembourg, especially by the

law of 10 August 1915 on commercial companies as amended (the «Company Law») and by the law of 22 March 2004
on securitisation (the «Securitisation Law») (together, the «Applicable Law») and by the present Articles of Association.

1.2 The name of the company is «ASSET BACKED INVESTMENTS S.A.» (hereinafter the «Company»).

2. Registered Office.
2.1 The registered office of the Company is established in the City of Luxembourg, Grand Duchy of Luxembourg.
2.2 If the Board of Directors determines that extraordinary political, economic, social or military events have occurred

or are imminent which would render impossible the normal activities of the Company at its registered office or the
communication between such registered office and persons abroad, the registered office may be temporarily transferred
abroad until the complete cessation of these abnormal circumstances; such provisional measures shall have no effect on
the nationality of the Company which, notwithstanding such temporary transfer, shall remain a Luxembourg company.

3. Duration.
3.1 The Company is established for an unlimited period.

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4. Object.
4.1 The corporate object of the Company is the entering into and the performance of any transaction permitted under

4.2 It may, in particular:
(a) acquire by way of subscription, purchase, exchange or in any other manner and/or assume risks relating to the

following assets:

(i) with the proceeds of subscription for and issue of the PESCs, and as assets to be held in Compartment 1, the Senior

Class A2 Mortgaged-Backed Notes 2002 due 2035 issued by EUROPEAN MORTGAGE SECURITIES IV B.V. (the «EMS
IV Notes»), via the holding of the Secured Fixed Rate Callable Notes issued by CHESS LIMITED (the «CHESS Notes»);

(ii) with the proceeds of subscription for and issue of the E Shares, and as assets to be held in Compartment 3,

instruments issued under the EUROPEAN MORTGAGE SECURITIES VII B.V. Compartment 2006-II (Aaa/AAA/AAA)
programme (the «EMS VII Notes»), via the acquisition and holding of an AUD denominated credit linked note issued by
ABN AMRO BANK N.V. (the «EMS VII Notes CLN»);

(iii) with D Share Capital that is the proceeds of subscription for and issue of D Shares, and as assets to be held in

Compartment 2, the Series A2 AAA rated euro denominated notes issued under the BBVA RMBS 3, Fondo De Titulizacion
De Activos €3bn Prime Spanish RMBS programme (the «BBVA Notes»);

(iv) with D Share Capital that is the proceeds of subscription for and issue of D Shares, and as assets to be held in

Compartment 2, any other Qualifying Securities that satisfy the Investment Criteria («Tranche 2 Notes»);

(v) with funds in Compartment 2 that are the proceeds of principal repayments received under the BBVA Notes or

(vi) any other instrument or investment as has been unanimously approved by the Board of Directors in accordance

with Article 12,

these Articles and any Company Agreement, and otherwise with the unanimous approval of the Board of Directors in
accordance with Article 12;

(d) borrow or obtain other financial accommodation from a member of the CBA GROUP;
(e) use the proceeds of the issue of shares, bonds, notes and other equity or debt securities, in order to purchase,

subscribe for or grant loans in connection with investments, whether directly or indirectly, in any or all of the Approved
Assets; and

(f) transfer any of its Approved Assets against due consideration as permitted by these Articles and any Company

Agreement, and otherwise with the unanimous approval of the Board of Directors in accordance with Article 12.

4.3 Solely for purposes directly relating to the acquisition, holding and disposal of Approved Assets in accordance with

4.4 The Company may carry out any transactions, whether commercial or financial which are directly or indirectly

5. Share Capital.
5.1 The Company's issued share capital amounts to eight hundred and sixty six thousand seven hundred Australian

Dollars (AUD 866,700), initially divided into:

(a) four hundred and forty (440) ordinary shares («Ordinary Shares»);
(b) two hundred and five (205) preferred equity stock certificates A («A PESCs»), which are redeemable in accordance

with these Articles and Luxembourg law;

cordance with these Articles and Luxembourg law;

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(d) two hundred and five (205) preferred equity stock certificates C («C PESCs»), which are redeemable in accordance

with these Articles and Luxembourg law;

(e) two hundred and five (205) redeemable shares D («D Shares»), which are redeemable in accordance with these

Articles and Luxembourg law;

(f) one hundred and sixty (160) redeemable shares E («E Shares»), which are redeemable in accordance with these

Articles and Luxembourg law.

5.2 The Company shall maintain a share premium reserve account for:
(a) the A PESCs («A PESC Share Premium Reserve Account»);
(b) the B PESCs («B PESC Share Premium Reserve Account»);
(c) the C PESCs («C PESC Share Premium Reserve Account»);
(d) the D Shares («D Share Premium Reserve Account»); and
(e) the E Shares («E Share Premium Reserve Account»),
each in AUD, and there shall be recorded to each account, the amount or value of any premium paid up on such class

of Shares. Amounts so recorded to these share premium reserve accounts will constitute freely distributable reserves
of the Company.

5.3 The Company shall not issue depositary receipts for its Shares.
5.4 The issued share capital of the Company, as stipulated in these Articles of Association, may at any time be increased

or reduced by a resolution of the General Meeting (as defined in Article 18.1) adopted in the manner required for
amendment of these Articles.

6. Beneficial Shares.
6.1 Independently of the Ordinary Shares, the PESCs and the Redeemable Shares issued in accordance with these

Articles and which represent the entire issued share capital of the Company, the Company has issued:

(a) four hundred and thirty-six (436) class A beneficial shares («Class A Beneficial Shares»);
(b) four (4) class B beneficial shares («Class B Beneficial Shares»); and
(c) five (5) class C beneficial shares («Class C Beneficial Shares»)
(collectively the «Beneficial Shares») in accordance with the Applicable Law. Beneficial Shares are redeemable in ac-

cordance with these Articles and Luxembourg law.

6.2 The Company shall maintain a share reserve account for the Beneficial Shares («Beneficial Share Reserve Account»)

in AUD and there shall be recorded in such account the amount or value of any amount paid up on such class of shares
issued by the Company. Amounts so recorded to the Beneficial Share Reserve Account will constitute freely distributable
reserves of the Company.

6.3 If the B PESC Shareholder or its or their ultimate holding company becomes Insolvent, then:
(a) notwithstanding Article 18.3, the Beneficial Shareholder has the exclusive right to call a General Meeting on 5

Business Days notice to propose and consider a resolution to dissolve and liquidate Compartment 1 only; and

(b) notwithstanding Articles 6.4 and 18.12, at that General Meeting, on matters relating primarily to the dissolution

and liquidation of Compartment 1 only,

each Class A Beneficial Share shall have three (3) votes and each Class B Beneficial Share shall have twenty (20) votes.
6.4 Subject to Articles 6.3, 18.15 and 18.16, the Class A Beneficial Shares and the Class B Beneficial Shares shall have

one vote per share and Class C Beneficial Shares shall have no vote in a General Meeting.

Notwithstanding the above, the Class A Beneficial Shares shall have no voting rights and Class C Beneficial Shares shall

have fifty (50) votes per share in relation to the following:

(a) the appointment, removal, dismissal, suspension or the like of any of the Directors or of the chairman of the General

Meeting; or

(b) a reduction in the issued share capital of the Company and cancellation of the Ordinary Shares following the

redemption of the A PESCs and/or B PESCs and/or C PESCs and/or D Shares and/or E Shares.

7. Compartments.
7.1 In compliance with the provisions of the Applicable Law, and with Articles 14, 23 and 24, the Company is composed

of several compartments to which are allocated the Company's existing assets and liabilities and corresponding Shares.
The Company may, by unanimous resolution of the Board of Directors, create further compartments in relation to shares,
bonds, notes, and other equity or debt securities to be issued by the Company (each a «Compartment», together the
«Compartments»).

7.2 From the date of first adoption by the Company of securitisation vehicle status, the Company is composed of three

Compartments, which comprise the following assets, liabilities and share capital:

(a) Compartment 1: the CHESS Notes, related Incidental Assets and related liabilities, which have been financed by

the funds derived from the issue of A PESCs, B PESCs, C PESCs, Ordinary Shares and Beneficial Shares;

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(b) Compartment 2: the BBVA Notes, the Tranche 2 Notes, the D Share Reinvestment Assets, any other instrument

or investment allocated to this Compartment by approval of the Board of Directors in accordance with these Articles,
related Incidental Assets and related liabilities, which have been or will be financed by D Share Capital or the reinvestment
of proceeds received from another Approved Asset in this Compartment; and

approval of the Board of Directors in accordance with these Articles, related Incidental Assets and related liabilities,
which have been financed by the funds derived from the issue of E Shares or the reinvestment of proceeds received from
another Approved Asset in this Compartment.

7.3 Shares relate to and are allocated to Compartments as follows:
(a) Compartment 1: all A PESCs, B PESCs, C PESCs, Ordinary Shares and Beneficial Shares;
(b) Compartment 2: all D Shares; and
(c) Compartment 3: all E Shares.
7.4 Compartments correspond to separate pools of assets and liabilities of the Company. Each Compartment is seg-

regated from the others and considered as an entity on its own.

7.5 The assets in a particular Compartment may be dedicated to a particular class of shares and investors by the terms

of these Articles, and liabilities to a particular creditor or class of creditors by the terms of these Articles or a Company
Agreement.

7.6 Where the rights of a particular class of investors or creditors are, by the terms of these Articles or by a Company

Agreement, related to a Compartment or arise in relation to the creation, functioning or liquidation of a Compartment,
those rights are limited to the assets of that Compartment.

7.7 Assets of a Compartment are liable exclusively for the rights of the class of investors relating to such Compartment

and the claims of those creditors or class of creditors which have arisen in relation to the creation, functioning or
liquidation of that Compartment. No other investor or creditor has rights in relation to the assets in that Compartment.

7.8 Each Compartment may be liquidated separately without such liquidation causing or necessitating the liquidation

of any other Compartment.

8. Reduction in Issued Share Capital of the Company and Redemption of Shares
General - Company may acquire or redeem Shares
8.1 The Company may acquire or redeem its own Shares to the extent permitted by the Applicable Law and these

Articles on the basis of amounts available for distribution in accordance with Article 21.5. Shares which are so acquired
or redeemed must be proposed for cancellation at the next General Meeting following acquisition or redemption.

Mandatory redemption or acquisition of the PESCs, the Redeemable Shares and the Beneficial Shares by the Company
8.2 To the extent permissible by the Applicable Law, on 21 January 2035 the Company must redeem or acquire all

(but not some) of the A PESCs remaining on issue on that date.

8.3 To the extent permissible by the Applicable Law, on 21 January 2035 the Company must redeem or acquire all

(but not some) of the B PESCs remaining on issue on that date.

8.4 To the extent permissible by the Applicable Law, on 21 January 2035 the Company must redeem or acquire all

(but not some) of the C PESCs remaining on issue on that date.

8.5 To the extent permissible by the Applicable Law, on 21 January 2035 the Company must redeem or acquire all

(but not some) of the D Shares remaining on issue on that date.

8.6 To the extent permissible by the Applicable Law, on 21 January 2035 the Company must redeem or acquire all

(but not some) of the E Shares remaining on issue on that date.

8.7 To the extent permissible by the Applicable Law, the Company must:
(a) not later than 10 calendar days after the date that no A PESCs are held by any member of the CBA Group:
(i) redeem all (but not some) of the A PESCs then on issue; and
(ii) redeem all (but not some) of the B PESCs then on issue; and
(b) redeem or acquire all (but not some) of the Beneficial Shares if all of the A PESCs, B PESCs, C PESCs and D Shares

have been redeemed.

Optional redemption of the PESCs, the Redeemable Shares and the Beneficial Shares by the Company
8.8 In addition to Articles 8.2, 8.3, 8.4, 8.5, 8.6 and 8.7 the Board of Directors may resolve to do any one or more of

the following:

(a) redeem all (but not some) of the A PESCs;
(b) redeem all (but not some) of the B PESCs, but only if none of the A PESCs remain on issue;
(c) redeem all (but not some) of the C PESCs, but:
(i) only if none of the A PESCs and D Shares remain on issue (but if all of the A PESCs are to be redeemed pursuant

to this Article 8.8, at the same Director's Meeting the Board of Directors may resolve to redeem the C PESCs); and

(ii) only if such action is first approved by the C PESC Shareholders; and

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(d) redeem all (but not some) of the D Shares, but if the B PESC Shareholder or E Shareholder or its or their ultimate

holding company is Insolvent at the relevant time, then only if such action is first approved by the D Shareholders;

(e) redeem all (but not some) of the E Shares, but only if none of the D Shares remain on issue; and
(f) redeem all (but not some) of the Beneficial Shares, but only if, in the case of Class B Beneficial Shares, such action

is first approved by the Class B Beneficial Shareholders and otherwise if all of the A PESCs, C PESCs and D Shares have
been redeemed,

in each case, with at least 6 calendar days prior written notice to each Shareholder (and in the case of the D Shares,

with at least 9 calendar days prior written notice) («Redemption Notice»), setting out the proposed redemption date
(which must be a Business Day) («Redemption Date») and the redemption consideration including reasonable detail of
calculations as against the requirements of Articles 8.9, 8.10, 8.11 8.12, 8.13 or 8.14 (as the case may be).

If the Board of Directors resolves to redeem all of the D Shares following an exercise of the option in the Europa Put

Option (D Shares), the Redemption Date for the D Shares must be the «Completion Date» under the Europa Put Option
(D Shares).

If the Redemption Date for D Shares coincides with the «Completion Date» under the Europa Put Option (D Shares),

the D Shares to be redeemed on that date must not be redeemed until after «Completion» (as defined in the Europa Put
Option (D Shares)) has occurred.

Consideration payable to Shareholders on redemption or acquisition
8.9 Each A PESC Shareholder, in consideration of a redemption or acquisition of their A PESCs by the Company under

Article 8.2 or Article 8.8, shall be entitled to receive an amount equal to the sum of:

(a) their relevant proportion of the A PESC Investment Amount; and
(b) their relevant proportion of the A PESC Coupon Entitlement; less
(c) any dividends paid to that A PESC Shareholder on the date the A PESCs are redeemed or acquired by the Company

under Article 8.2 or Article 8.8.

8.10 Each B PESC Shareholder, in consideration of a redemption or acquisition of their B PESCs by the Company under

Article 8.3 or Article 8.8, shall be entitled to receive an amount equal to the sum of:

(a) their relevant proportion of the B PESC Investment Amount; and
(b) their relevant proportion of the B PESC Coupon Entitlement; less
(c) any dividends paid to that B PESC Shareholder on the date the B PESCs are redeemed or acquired by the Company

under Article 8.3 or Article 8.8.

8.11 Each C PESC Shareholder, in consideration of a redemption or acquisition of their C PESCs by the Company

under Article 8.4 or Article 8.8, shall be entitled to receive an amount equal to the sum of:

(a) their relevant proportion of the C PESC Investment Amount; and
(b) their relevant proportion of the C PESC Coupon Entitlement; less
(c) any dividends paid to that C PESC Shareholder on the date the C PESCs are redeemed or acquired by the Company

under Article 8.4 or Article 8.8.

8.12 Each D Shareholder, in consideration of a redemption or acquisition of their D Shares by the Company under

Article 8.5 or Article 8.8, shall be entitled to receive an amount equal to the sum of:

(a) their relevant proportion of the D Share Investment Amount; and
(b) their relevant proportion of the D Share Undistributed Profit.
8.13 Each E Shareholder, in consideration of a redemption or acquisition of their E Shares by the Company under

Article 8.6 or Article 8.8, shall be entitled to receive an amount equal to the sum of:

(a) their relevant proportion of the E Share Investment Amount; and
(b) their relevant proportion of the E Share Coupon Entitlement; less
(c) any dividends paid to the E Shareholder on the date the E Shares are redeemed or acquired by the Company under

Article 8.6 or Article 8.8.

8.14 The Beneficial Shareholders, in consideration of a redemption of their Beneficial Shares by the Company under

Article 8.5 or Article 8.8, shall be entitled to receive their pro rata share of an amount equal to the sum of:

(a) the balance of the Beneficial Share Reserve Account; and
(b) 5% of the balance of the General Profit Account,
in each case as at the last Business Day of the relevant Financial Year (after allocation of results to the General Profit

Account on the assumption that the relevant Financial Year ends on the date of redemption of the Beneficial Shares).

Board is authorised
8.15 The Board of Directors is irrevocably authorised and empowered to take any steps to:
(a) execute any documents; and
(b) do and perform any acts,
on behalf of the Company which may be necessary to:

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(c) effect the redemption of any PESCs, any Redeemable Shares or the Beneficial Shares by the Company; and
(d) the completion of all related action,
at all times, in the manner, and to the extent permitted, by these Articles and Applicable Law.

9. Form of Shares.
Registered form
9.1 All the Shares of the Company shall be issued in registered form only.
Numbering
9.2 The Shares will be numbered as follows:
(a) the Ordinary Shares shall be numbered continuously from O1 onwards;
(b) the A PESCs shall be numbered continuously from A1 onwards;
(c) the B PESCs shall be numbered continuously from B1 onwards;
(d) the C PESCs shall be numbered continuously from C1 onwards;
(e) the D Shares shall be numbered continuously from D1 onwards;
(f) the E Shares shall be numbered continuously from E1 onwards; and
(g) the Beneficial Shares shall be numbered continuously from BS1 onwards.
Share Register
9.3 The Shares shall be entered on the share register («Share Register») kept by the Share Registrar, containing:
(a) the name of each Shareholder;
(b) the Shareholder's address;
(c) the number and type of Shares held by that Shareholder; and
(d) any transfer of those Shares and the dates thereof.
Inscription
9.4 The inscription of the Shareholder's name in the Share Register evidences its right of ownership of such Shares.
Registration of Transfers
9.5 Any transfer of Shares must be recorded in the Share Register immediately upon receipt by the Share Registrar,

of a notification of transfer satisfactory to the Share Registrar, showing the effective date of the transfer and otherwise
dated and signed by or on behalf of the transferor and transferee. Without limiting any other mode of delivery, a notifi-
cation of transfer given under this Article may be delivered by facsimile transmission. Neither the Company nor the Share
Registrar is obliged to enquire as to the genuineness of any notification of transfer received under this Article and may
rely on such an instrument, and inscribe the Share Register accordingly, if it appears regular on its face. The Company
must notify, or must procure that the Share Registrar notifies, the transferor and transferee (and any other person either
of them may reasonably nominate) of the recording or inscribing of a transfer in the Share Register, immediately after it
is done.

9.6 A Shareholder may, at any time, change their address as entered into the Share Register by means of a written

notification to the Company at its registered office or at such other address as may be determined by the Company from
time to time.

9.7 The Company recognizes only one single owner per Share. If one or more Shares are jointly owned or if the title

of ownership to such Share(s) is divided, split or disputed, all persons claiming a right to such Share(s) must appoint a
single attorney to represent such Share(s) in their dealings with the Company. The failure to appoint such attorney implies
a suspension of all rights attached to such Share(s).

10. Transfer of and Encumbrances on Shares.
General
10.1 Until 22 March 2010 (in relation to A PESCs and/or B PESCs), or until 22 March 2017 (in relation to C PESCs,

D Shares and/or E Shares), or at any time (in relation to any other class of Share) a Shareholder must not, without the
prior unanimous written consent of each other Shareholder:

(a) create an Encumbrance or allow one to exist on the whole or any part of its Shares; or
(b) sell, transfer or otherwise dispose of, or grant any option over, the whole or any part of its Shares,
unless such action is otherwise permitted under this Article 10.
Transfer of Shares to Wholly Owned Related Entities of a Shareholder
10.2 Any Shareholder (for the purposes of this Article 10.2, the «Transferor Shareholder») may transfer all or part of

its Shares to a Wholly-Owned Related Entity of itself who is not already a Shareholder (for the purposes of this Article
10.2, the «Transferee») without the consent of any person, after first giving at least thirty (30) Business Days prior written
notice to all other Shareholders (or two (2) Business Days prior notice if the Transferor Shareholder considers the
transfer necessary to protect the value of the Shares following action by a Governmental Agency in any relevant country).

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A Transferee must promptly transfer those Shares to another Wholly Owned Related Entity of the Group Parent if the
Transferee ceases to be a Wholly Owned Related Entity of the Group Parent.

Transfer of Shares to Third Parties
10.3 Subject to the rest of this Article 10, a Shareholder may transfer all or part of its Shares to any other person but

only with the prior written consent of all the other Shareholders. Consent to any such transfer will be deemed to be
granted unless the transferring Shareholder receives the written refusal of any other Shareholder within ten (10) Business
Days from the date of receipt by that other Shareholder of a registered letter requesting its consent.

Transfer of Shares to another Shareholder
10.4 A Shareholder may transfer all or part of its Shares to a person who is another Shareholder or to a Wholly-

Owned Related Entity of a person who is another Shareholder at any time, without the consent of any person.

No registration of transfers in contravention
10.5 Neither the Company nor the Share Registrar shall enter in the Share Register any transfers made in contravention

of the provisions, or without due observance of the conditions provided for, in this Article 10.

Shareholders Agreement
10.6 No person may be registered as a Shareholder of any Shares (whether those Shares have been acquired upon an

issue or transfer or otherwise) unless the person has first become a party, as a Shareholder, to any shareholders' agree-
ment that may exist as between all the other Shareholders and the Company, by whatever mechanism is satisfactory to
the Shareholders and the Company.

11. Board of Directors.
11.1 The Company shall be managed by a board of directors («Board of Directors») consisting of at least three (3)

and no more than five (5) directors (the «Directors»).

11.2 Subject always to the requirements of Article 11.1, Directors will be nominated for appointment in the following

way:

(a) A PESC Shareholder: subject to Article 11.2(d),an A PESC Shareholder who holds at least 200 A PESCs has, in that

capacity, the exclusive right (but not the obligation) to nominate candidates for one Director (the «Director A») for
appointment;

(b) B PESC Shareholder: a B PESC Shareholder who holds at least 380 B PESCs has, in that capacity, the exclusive right

(but not the obligation) to nominate candidates for two Directors (each, a «Director B») for appointment;

capacity, the exclusive right (but not the obligation) to nominate candidates for one Director (the «Director C») for
appointment;

(d) D Shareholder: for so long as there is:
(i) an A PESC Shareholder who holds at least 200 A PESCs and has nominated a Director A; and
(ii) a C PESC Shareholder who holds at least 200 C PESCs and has nominated a Director C,
the D Shareholder has no exclusive right to nominate candidates for a mandate as Director, but if the D Shareholder

is a member of the CBA Group and:

(iii) in relation to A PESCs and the Director A:
(A) no A PESC Shareholder holds at least 200 A PESCs; or
(B) there are A PESCs on issue but no member of the CBA Group holds any A PESCs,
then the D Shareholder has the exclusive right (but not the obligation) to nominate a candidate for one Director A

for appointment (and this right overrides the right of any A PESC Shareholder to nominate a Director A);

(iv) in relation to C PESCs and the Director C:
(A) no C PESC Shareholder holds at least 200 C PESCs; or
(B) there are C PESCs on issue but no member of the CBA Group holds any C PESCs,
then the D Shareholder has the exclusive right (but not the obligation) to nominate a candidate for one Director C

for appointment (and this right overrides the right of any C PESC Shareholder to nominate a Director C);

(e) E Shareholder: for so long as there is a B PESC Shareholder who holds at least 380 B PESCs and has nominated

two Directors, the E Shareholder has no right to nominate candidates for Director, but if there is no B PESC Shareholder
who holds at least 380 B PESCs or if that B PESC Shareholder has not nominated two Directors or, as the case may be,
one Director, then the E Shareholder has the exclusive right (but not the obligation) to nominate candidates for two
Directors B or, as the case may be, one Director B for appointment; and

(f) Ordinary Shareholder: an Ordinary Shareholder, who holds at least 410 Ordinary Shares has, in that capacity, the

exclusive right (but not the obligation) to nominate candidates for one Director (the «Director O») and any Director A,
Director B or Director C if there are no PESCs on issue.

11.3 The Directors are to be appointed by the General Meeting for a period not exceeding six (6) years and until their

successors are elected.

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11.4 Subject to Article 6.4, a decision to suspend or dismiss a Director must be adopted by the General Meeting with

a majority of two-thirds of all votes cast in a General Meeting where the entire issued voting share capital of the Company
is present or represented.

12. Directors Meetings.
Chairman, Vice-Chairman and Secretary
12.1 The Board of Directors:
(a) shall appoint from among its members a chairman (the «Chairman») for a term of up to six (6) years;
(b) may choose from among its members a vice-chairman (the «Vice-Chairman») for a term of up to six (6) years; and
(c) may choose a secretary (the «Secretary») (who need not be a Director and who may be instructed to keep the

minutes of the Directors Meetings as well as to carry out such administrative and other duties as directed from time to
time by the Board of Directors).

Calling Directors Meetings
12.2 The Board of Directors shall meet upon call by written notice issued by or at the request of the Chairman, or

the Vice-Chairman (on behalf of the Chairman) or any two Directors, at the place and time indicated in the notice, and
the person(s) convening the Directors Meeting will set the agenda. Subject to Article 15.1(b), written notice of any
Directors Meeting shall be given to all Directors at least twelve (12) calendar days in advance of the hour set for such
Directors Meeting. The requirement for this notice may be waived if:

(a) all Directors are present (but no more than a minority of whom participates by the means described in Article

12.8); and

(b) they consider themselves as being duly convened and informed of the agenda; and
(c) they decide to waive the notice requirement,
in which case the Directors Meeting may proceed despite there being no prior notice.
Separate notice shall not be required for meetings held at times and places described in a resolution previously adopted

by the Board of Directors.

The agenda
12.3 The Directors Meeting may only consider those issues on the agenda circulated with the written notice of Di-

rectors Meeting, or (if in relation to a particular Directors Meeting the requirement for notice has been waived as
contemplated by Article 12.2) as decided by all the Directors.

Location of Directors Meetings
12.4 Without prejudice to Articles 12.8 and 12.9, Directors Meetings shall be held in Luxembourg.
Proxies
12.5 Any Director may act at any Directors Meeting by appointing in writing another Director as his proxy and sending

or giving that written appointment to the Chairman prior to commencement of the Directors Meeting. A Director may
not represent more than one other Director.

Quorum
12.6 Subject to Article 15.1(b), the Board of Directors can only act validly and validly adopt resolutions if:
(a) the Chairman or the Vice-Chairman is present; and
(b) at least a majority of the Directors are present or represented; and
(c) if and for so long as a Director A or a Director C is in office, one of the Directors present or represented is a

Director A or a Director C,

at a Directors Meeting. If a quorum is not obtained within half an hour of the time set for the Directors Meeting, the

Directors present or represented may adjourn the Directors Meeting to a venue and at a time no later than three (3)
calendar days after the date of the adjourned Directors Meeting. Notice of the adjourned Directors Meeting shall be
given by the Chairman or the Vice-Chairman (on behalf of the Chairman) to the Directors within twenty-four (24) hours
after the time initially set for the Directors Meeting. At the adjourned Directors Meeting, the Board of Directors may
act validly and validly adopt resolutions only if the Chairman or the Vice-Chairman is present and if at least one other
Director is present or represented.

Voting at Directors Meetings
12.7 Except in relation to any matter stipulated in these Articles to require a unanimous vote, decisions shall be taken

by a majority vote of the Directors present or represented at such Directors Meeting. In the event that in any Directors
Meeting the number of votes for and against a resolution are equal, the Chairman, or if the Chairman is not present, the
Vice-Chairman, shall have the right to cast a deciding vote.

12.8 A minority of the Directors, other than the Chairman (or the Vice-Chairman, if acting as chairman for that

Directors Meeting), may participate in a Directors Meeting or a meeting of a Committee by conference call or similar
means of communications equipment whereby all persons participating in the Directors Meeting or a meeting of a Com-
mittee can hear each other, and participating in a Directors Meeting or a meeting of a Committee by such means shall
constitute presence in person at such Directors Meeting.

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12.9 Notwithstanding the foregoing, a resolution of the Board of Directors or of a Committee may also be passed by

unanimous consent in writing which may consist of one or several documents containing the resolutions and signed by
each and every Director or Committee member. The date of such a resolution shall be the date of the last signature and
any such resolution will be deemed to have been passed at the registered office of the Company.

12.10 All Directors Meetings and meetings of a Committee shall be conducted in, and any resolution contemplated by

Article 12.9 shall be in, English.

Committee meetings
12.11 Except where expressly stated, the provisions of this Article 12 do not apply to meetings of a Committee. The

members of a Committee may decide among themselves from time to time on procedures for the calling and (subject to
Article 12.12) location of Committee meetings, the agenda for each such meeting, the conduct of business at each such
meeting and the voting at and making of decisions and resolutions by that Committee, provided that nothing those
Committee members do can contravene these Articles or any authority delegated to that Committee, and anything done
which does so contravene is void.

12.12 Without prejudice to Articles 12.8 and 12.9, Committee Meetings shall be held in Luxembourg.

13. Minutes of Directors Meetings.
13.1 The minutes of any Directors Meeting shall be in English and, after being approved at the next Directors Meeting,

shall be signed by the Chairman (or the Vice-Chairman, if he or she acted as chairman for that Directors Meeting), or by
any two Directors.

13.2 Copies or extracts of the minutes of any Directors Meeting, which may be produced in judicial proceedings or

otherwise, shall be signed by the Chairman (or the Vice-Chairman, if he or she acted as chairman for that Directors
Meeting) or by any two Directors.

Minutes of Committee meetings
13.3 The members of a Committee must cause proper minutes to be kept of each Committee meeting and, after being

approved at the next Committee meeting, shall be signed by the members of that Committee who attended that earlier
meeting. Copies or extracts of the minutes of any Committee meeting, which may be produced in judicial proceedings
or otherwise, shall be signed by any member of that Committee who was present at the relevant meeting.

14. Powers of the Board of Directors.
How the Directors may act
14.1 The Directors may only act at duly convened Directors Meetings or by written resolution in accordance with

Article 12.

Powers of the Board of Directors
14.2 The Board of Directors is vested with the broadest powers to perform all acts necessary or useful for accom-

plishing the Company's corporate objects. In particular, the Board of Directors is vested with the power to create one
or several Compartments in relation to shares, bonds, notes and other equity or debt securities issued by the Company.

14.3 All powers not expressly reserved by law or by these Articles to the General Meeting of Shareholders are within

the competence of the Board of Directors.

Committees generally
14.4 The Board of Directors may decide to set up one or more committees whose members may be but need not be

Directors. In that case the Board of Directors shall appoint the members of such Committee(s) and determine the powers
of the Committee(s) (which may be exclusive powers).

Committee for Compartment 2
14.5 Without limiting the rights of the Board of Directors under Articles 14.2 and 14.4, on and from the D Share

Commencement Date, and unless and until otherwise resolved by a unanimous resolution of the Board of Directors, the
Board of Directors appoints the Director A and the Director C to form a Committee with exclusive responsibility to
make decisions with respect to the acquisition and disposal of, and dealings with, Approved Assets in Compartment 2,
provided that such Committee complies with these Articles in making its decisions, and having the delegated powers and
competence described in Article 16.2. («Compartment 2 Board Committee»)

14.6 Members of the Board of Directors and the Compartment 2 Board Committee must comply with the Investment

Criteria at all times when considering making an investment.

Committee for Compartment 3
14.7 Without limiting the rights of the Board of Directors under Articles 14.2 and 14.4, on and from the E Share

Commencement Date, and unless and until otherwise resolved by a unanimous resolution of the Board of Directors, the
Board of Directors appoints the Directors B and the Director O to form a Committee with exclusive responsibility to
make decisions with respect to the acquisition and disposal of, and dealings with, Approved Assets in Compartment 3,
provided that such Committee complies with these Articles in making its decisions, and having the delegated powers and
competence described in Article 16.4. («Compartment 3 Board Committee»).

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15. Corporate Signature.
The Company generally
15.1 Subject to Articles 16.3 and 16.5, vis-à-vis third parties, the Company is validly bound by:
(a) the joint signature of, on the one hand, the Chairman, or the Vice-Chairman, and, on the other, any other Director

(which other Director must be either a Director A or a Director C, if and as long as one such Director is in office), or

(b) by the signature(s) of any other person(s) to whom authority has been delegated by the Board of Directors by

means of a decision of the Board of Directors. For the purposes of Article 12.2, only two (2) Business Days notice is
required for calling a Directors Meeting the sole purpose of which is to authorise the execution of a document, provided
the substantive subject matter of the document has been previously approved by a Directors Meeting convened in the
ordinary way. Notwithstanding Article 12.6, a quorum is constituted if the Chairman or the Vice-Chairman and at least
two (2) other Directors are present or represented at that Directors Meeting.

16. Delegation of Powers.
Delegations generally
16.1 The Board of Directors may by unanimous resolution generally or from time to time delegate the power to

conduct the daily management of the Company as well as the representation of the Company in relation to such man-
agement (as provided for by Article 60 of the Company Law) to an executive or other Committee or Committees whether
formed from among its own members or not, or to one or more Directors, managers or other agents who may act
individually or jointly. The Board of Directors shall determine the scope of the delegated powers, the conditions for
withdrawal of the delegation and the remuneration attached to these delegations of authority including the authority to
sub-delegate. The remuneration and other benefits granted to the person(s) to whom the daily management has been
entrusted must be reported annually by the Board of Directors to the General Meeting.

Delegations to Compartment 2 Board Committee
16.2 Without limiting the rights of the Board of Directors under Article 16.1, unless and until otherwise resolved by

a unanimous resolution of the Board of Directors, the Compartment 2 Board Committee shall have delegated power
and competence to make decisions with respect to the acquisition and disposal of, and dealings with, Approved Assets
in that Compartment, provided that Committee complies with these Articles in making its decisions. If and for so long
as the Compartment 2 Board Committee exists, that Committee's power and competence to make decisions within the
scope of its delegated authority is exclusive, and the Board of Directors may not make decisions on matters falling within
that scope except by a unanimous resolution.

16.3 Vis-à-vis third parties, in respect of any matter properly within the delegated power and competence of the

Compartment 2 Board Committee, the Company is validly bound by the signature of any one Director on that Committee.

Delegations to Compartment 3 Board Committee
16.4 Without limiting the rights of the Board of Directors under Article 16.1, unless and until otherwise resolved by

a unanimous resolution of the Board of Directors, the Compartment 3 Board Committee shall have delegated power
and competence to make decisions with respect to the acquisition and disposal of, and dealings with, Approved Assets
in that Compartment, provided that Committee complies with these Articles in making its decisions. If and for so long
as the Compartment 3 Board Committee exists, that Committee's power and competence to make decisions within the
scope of its delegated authority is exclusive, and the Board of Directors may not make decisions on matters falling within
that scope except by a unanimous resolution.

16.5 Vis-à-vis third parties, in respect of any matter properly within the delegated power and competence of the

Compartment 3 Board Committee, the Company is validly bound by the signature of any one Director on that Committee.

17. Conflict of Interest.
17.1 In case of a conflict of interest of a Director in relation to a particular matter before the Board of Directors (it

being understood that the mere fact that the Director serves as a director or employee of a Shareholder or of a Related
Party of a Shareholder shall not constitute a conflict of interest for the purposes of this Article or if such matter occurs
in the ordinary course of business and is concluded under normal circumstances) such Director must inform the Board
of Directors of any conflict and may not take part in the vote with respect to that matter. A Director having a conflict
on any item on the agenda must declare this conflict to the Chairman (or the Vice-Chairman, if he or she acted as Chairman
for that Directors Meeting) before the Directors Meeting is called to order.

17.2 Any Director having a conflict due to a personal interest in a transaction submitted for approval to the Board of

Directors conflicting with that of the Company, shall be obliged to inform the Board of Directors and to cause a record
of his statement to be included in the minutes of the Directors Meeting. The Director may not take part in the business
of the Directors Meeting relating to the conflict of interest. At the following General Meeting, before any other resolution
to be voted on, a special report shall be made on any transactions in which any of the Directors may have a personal
interest conflicting with that of the Company.

Conflicts and Committee meetings
17.3 The provisions of Articles 17.1 and 17.2 apply with respect to Committee members and Committee meetings,

mutatis mutandis.

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18. General Meeting.
General Meeting
18.1 The General Meeting as convened in accordance with this Article 18 shall represent the entire body of Share-

holders of the Company (the «General Meeting»).

18.2 The General Meeting has the powers conferred upon meetings of shareholders by the Company Law.
Notice, Place of General Meetings, Decisions without a Formal Meeting
18.3 The General Meeting shall meet in Luxembourg upon call by written notice issued by or at the request of:
(a) the Board of Directors acting independently of the Shareholders; or
(b) the Board of Directors acting upon a request of Shareholders representing one-tenth of the issued voting share

capital of the Company (in compliance with the Applicable Law); or

(c) any two (2) Directors, acting jointly.
Where and when General Meetings are to be held
18.4 The annual General Meeting shall be held:
(a) in Luxembourg;
(b) in accordance with Luxembourg law;
(c) at:
(i) the registered office of the Company; or
(ii) such other place as specified in the written notice of the General Meeting; and
(d) on:
(i) 21 March each year, at 11.00am (Luxembourg time); or
(ii) if such day is not a Business Day, the following Business Day.
18.5 Other General Meetings may be held at such places and times as may be specified in the respective convening

notice, subject to this Article 18.

Convening General Meetings
18.6 General Meetings shall be convened pursuant to a written notice setting forth the agenda and the time and place

at which the General Meeting will be held, sent by registered letter at least fifteen (15) calendar days prior to the General
Meeting, or in the case of the annual General Meeting, by 5 March, (the date of the convening notice and the day of the
General Meeting not included) to each Shareholder at the Shareholder's address in the Share Register, or as otherwise
instructed by such Shareholder.

18.7 The agenda must include or be accompanied by drafts of all resolutions proposed to be considered at the General

Meeting. Draft resolutions must be prepared with due regard to Article 18.17.

18.8 If all Shareholders are present or represented and consider themselves as being duly convened and informed of

the agenda, and they decide to waive the notice requirement, the General Meeting may take place without requirement
for written notice of General Meeting.

Chairing General Meetings
18.9 The General Meeting shall appoint a chairman and be chaired by the chairman who shall preside over the General

Meeting. The General Meeting shall also appoint a secretary who shall be charged with keeping minutes of the General
Meeting and a scrutineer. The minutes shall be in English and adopted as evidence thereof and be signed by the chairman
and the secretary of such General Meeting by the next General Meeting.

Language
18.10 All General Meetings shall be conducted in English.
Agenda
18.11 Subject to Article 18.17, the Shareholders may not decide on subjects that were not listed on the agenda

accompanying the written notice of General Meeting (which shall include all matters required by law) and business inci-
dental to such matters, unless all Shareholders are present or represented at the General Meeting and they all agree the
matters to be discussed.

Voting at General Meetings
18.12 Subject to Articles 6.3 and 6.4, each Share is entitled to one vote at all General Meetings. Blank votes are

considered null and void.

18.13 A Shareholder may attend any General Meeting in person or by means of a conference call or by any similar

means of communication enabling the several persons participating therein to simultaneously communicate with each
other. Such participation shall be deemed equal to a physical presence at that meeting. A Shareholder may also act at any
General Meeting by giving a written proxy to another person, who need not be a Shareholder.

18.14 Unless otherwise provided by law or in these Articles, resolutions of the General Meeting are passed by a two

thirds majority of the total votes of the Shares held by all Shareholders entitled to vote on the resolution, whether or
not present or represented at the General Meeting.

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Voting entitlements regarding Compartment 2
18.15 Where a matter for resolution before a properly convened General Meeting (including a proposed amendment

of these Articles under Article 26), relates directly to, or will materially affect:

(a) assets or liabilities in, or the investment activities of, Compartment 2; or
(b) the rights or liabilities of a D Shareholder,
that resolution may only be passed if all of the D Shareholders vote in favour of that resolution, regardless of the votes

of other Shareholders, but without prejudice to the majority requirement set out in Article 18.14.

Voting entitlements regarding Compartment 3
18.16 Where a matter for resolution before a properly convened General Meeting (including a proposed amendment

of these Articles under Article 26), relates directly to, or will materially affect:

(a) assets or liabilities in, or the investment activities of, Compartment 3; or
(b) the rights or liabilities of an E Shareholder,
that resolution may only be passed if all of the E Shareholders vote in favour of that resolution, regardless of the votes

of other Shareholders, but without prejudice to the majority requirement set out in Article 18.14.

Mixed resolutions
18.17 If a draft resolution for consideration and resolution at a General Meeting relates directly to, or will materially

affect:

(a) assets or liabilities in, or the investment activities of, a particular Compartment; and/or
(b) the rights or liabilities of a particular class of Shares,
and also:
(c) relates directly to, or will materially affect:
(i) assets or liabilities in, or the investment activities of, another Compartment; and/or
(ii) the rights or liabilities of another class of Shares; and/or
(d) affects the Company as a whole,
then the person convening the General Meeting under Article 18.6 (or, if the matter has reached the General Meeting

so convened, the chairman of the General Meeting) must, at the request of any Shareholder, withdraw the resolution
and, after consultation with the Shareholders, must resubmit it as two or more separate resolutions, with each element
set out as a separate matter for consideration and resolution in accordance with this Article 18. To avoid doubt, this may
be done without having to reconvene the General Meeting in accordance with this Article 18.

19. Independent Auditor(s).
19.1 The operations of the Company shall be audited by one or several independent auditor(s).
19.2 The independent auditor(s) shall be appointed and dismissed by the Board of Directors. Their term of office may

not exceed six (6) years.

19.3 The records of the Company shall be kept in Australian Dollars.

20. Financial Year.
20.1 The financial year of the Company shall commence on 22 December and shall terminate on 21 December of each

year («Financial Year»).

20.2 The Board of Directors shall cause to be prepared annual accounts in accordance with the requirements of

Luxembourg law and accounting practice («Annual Accounts»).

20.3 The Board of Directors shall close the Company's books as at the last Business Day of each Financial Year and

shall by 5 March of the next year cause to be drawn up Annual Accounts. It shall deposit the Annual Accounts at the
Company's registered office for inspection by the Shareholders. Within the same period, the Board of Directors shall
also submit its annual report. To the extent permitted by Luxembourg company law, the Annual Accounts shall be drawn
up in Australian Dollars.

20.4 The Company shall ensure that the Annual Accounts, the annual report and the information to be added pursuant

to the Company Law shall be available at its registered office from 5 March prior to the annual General Meeting at which
they are to be discussed and, if appropriate, adopted.

21. Profit and Loss.
General
21.1 The Company shall maintain with respect to the relevant Compartment:
(a) with respect to Compartment 1:
(i) a Legal Reserve Account («Legal Reserve Account»);
(ii) an A PESC profit account («A PESC Profit Account»);
(iii) a B PESC profit account («B PESC Profit Account»);
(iv) a C PESC profit account («C PESC Profit Account»);

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(v) a general profit account («General Profit Account») (which is not an A PESC Profit Account, a B PESC Profit

Account, a C PESC Profit Account, a D Share Profit Account or an E Share Profit Account), pertaining to the Ordinary
Shares and the Beneficial Shares;

(b) with respect to Compartment 2, a D Share profit account («D Share Profit Account»);
(c) with respect to Compartment 3, an E Share profit account («E Share Profit Account»),
all to be kept in AUD.
Allocation of Losses regarding Compartment 1
21.2 Any losses with respect to Compartment 1 appearing from the relevant profit and loss account adopted by the

General Meeting shall be allocated as follows:

(a) first, to the General Profit Account, if and to the extent this account shows a positive amount;
(b) second, the balance after the allocation pursuant to paragraph (a) above, if any, to the B PESC Profit Account, if

and to the extent this account shows a positive amount; and

(c) third, the balance after the allocation pursuant to paragraphs (a) and (b) above, if any, to the C PESC Profit Account,

if and to the extent this account shows a positive amount; and

(d) fourth, the balance after the allocation pursuant to paragraphs (a), (b) and (c) above, if any, to the A PESC Profit

Account, if and to the extent this account shows a positive amount; and

(e) fifth, the balance after the allocations pursuant to paragraphs (a), (b), (c) and (d) above, if any, to the General Profit

Account.

Allocation of Losses regarding Compartment 2
21.3 Any losses with respect to Compartment 2 appearing from the relevant profit and loss account adopted by the

General Meeting shall be allocated to the D Share Profit Account.

Allocation of Losses regarding Compartment 3
21.4 Any losses with respect to Compartment 3 appearing from the relevant profit and loss account adopted by the

General Meeting shall be allocated to the E Share Profit Account

Allocation of Profits regarding Compartment 1
21.5 Each Financial Year, all of the profit with respect to Compartment 1 and distributable according to Article 72 of

the Company Law shown in the Annual Accounts of the Company must be:

(a) first, aggregated with the sum of the A PESC Coupon Entitlements, the C PESC Coupon Entitlements and the B

PESC Coupon Entitlements for Period End Dates occurring during the same Financial Year; and

(b) thereafter, the total of such sums (the «Total Net Earnings available for Distribution» or «TNED») must be allocated

to the Profit Accounts referred to in Article 21.1 in the following order:

(i) first, an amount corresponding to 5% of the TNED distributable according to Article 72 of the Applicable Law shall

be allocated to the Legal Reserve Account, until the aggregate amount allocated to the Legal Reserve Account is equal
to 10% of the issued share capital of the Company; and

(ii) second, with respect to any Financial Year, the A PESC Coupon Entitlement that has not been fully allocated to

the A PESC Profit Account due to insufficient profits in any previous Financial Year shall be allocated to the A PESC Profit
Account; and

(iii) third, with respect to any Financial Year, the A PESC Coupon Entitlement that has been allocated to the A PESC

Profit Account and which has thereafter been withdrawn from the A PESC Profit Account due to allocation of losses
under Article 21.2 in a subsequent Financial Year shall be allocated to the A PESC Profit Account; and

(iv) fourth, with respect to any Financial Year, an amount equal to the sum of the A PESC Coupon Entitlement for

such Financial Year shall be allocated to the A PESC Profit Account; and

(v) fifth, with respect to any Financial Year, the C PESC Coupon Entitlement that has not been fully allocated to the

C PESC Profit Account due to insufficient profits in any previous Financial Year shall be allocated to the C PESC Profit
Account; and

(vi) sixth, with respect to any Financial Year, the C PESC Coupon Entitlement that has been allocated to the C PESC

Profit Account and which has thereafter been withdrawn from the C PESC Profit Account due to allocation of losses
under Article 21.2 in a subsequent Financial Year shall be allocated to the C PESC Profit Account; and

(vii) seventh, with respect to any Financial Year, an amount equal to the sum of the C PESC Coupon Entitlement for

such Financial Year shall be allocated to the C PESC Profit Account; and

(viii) eighth, with respect to any Financial Year, the B PESC Coupon Entitlement that has not been fully allocated to

the B PESC Profit Account due to insufficient profits in any previous Financial Year shall be allocated to the B PESC Profit
Account; and

(ix) ninth, with respect to any Financial Year, the B PESC Coupon Entitlement that has been allocated to the B PESC

Profit Account and which has thereafter been withdrawn from the B PESC Profit Account due to allocation of losses
under Article 21.2 in a subsequent Financial Year shall be allocated to the B PESC Profit Account; and

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(x) tenth, with respect to any Financial Year, an amount equal to the sum of the B PESC Coupon Entitlement for such

Financial Year shall be allocated to the B PESC Profit Account; and

(xi) finally, the part of the profit remaining after the allocations pursuant to paragraph (i)-(x) shall be allocated to the

General Profit Account.

Allocation of Profits regarding Compartment 2
21.6 Each Financial Year, all of the profit with respect to Compartment 2 and distributable according to Article 72 of

the Company Law shown in the Annual Accounts of the Company must be allocated as follows:

(a) first, an amount equal to AUD 30,000 of that profit must be allocated to the General Profit Account, by way of

contribution towards the management and administrative expenses of the Company; and

(b) secondly, an amount corresponding to 5% must be allocated to the Legal Reserve Account, until the aggregate

amount allocated to the Legal Reserve Account is equal to 10% of the issued share capital of the Company; and

(c) finally, the remainder must be allocated to the D Share Profit Account.
Allocation of Profits regarding Compartment 3
21.7 Each Financial Year, all of the profit with respect to Compartment 3 and distributable according to Article 72 of

the Company Law shown in the Annual Accounts of the Company must be allocated as follows:

(a) first, an amount equal to AUD 30,000 of that profit must be allocated to the General Profit Account, by way of

contribution towards the management and administrative expenses of the Company; and

(b) secondly, an amount corresponding to 5% must be allocated to the Legal Reserve Account, until the aggregate

amount allocated to the Legal Reserve Account is equal to 10% of the issued share capital of the Company; and

22. Dividends and Coupons.
22.1 Subject to Article 22.8 on 21 March 2004 and thereafter on each A PESC Period End Date, the balance of the A

PESC Profit Account will be declared and paid to the A PESC Shareholders as a dividend, calculated on the following
basis:

(a) in case of a final dividend - the balance of the A PESC Profit Account (taking into account the reduction in the A

PESC Profit Account effected by any advance payment on dividends made to the A PESC Shareholder); and

(b) in the case of an advance payment on dividends made to the A PESC Shareholder - the balance of the A PESC Profit

Account determined on the assumption that the calendar day immediately preceding the relevant A PESC Period End
Date is the end of a Financial Year.

22.2 Subject to Article 22.8 on 21 March 2004 and thereafter on each B PESC Period End Date, the balance of the B

PESC Profit Account will be declared and paid to the B PESC Shareholders as a dividend, calculated on the following basis:

(a) in case of a final dividend - the balance of the B PESC Profit Account (taking into account the reduction in the B

PESC Profit Account effected by any advance payment on dividends made to the B PESC Shareholder); and

(b) in the case of an advance payment on dividends made to the B PESC Shareholder - the balance of the B PESC Profit

Account determined on the assumption that the calendar day immediately preceding the relevant B PESC Period End
Date is the end of a Financial Year.

22.3 Subject to Article 22.8 on 21 March 2004 and thereafter on each C PESC Period End Date, the balance of the C

PESC Profit Account will be declared and paid to the C PESC Shareholders as a dividend, calculated on the following
basis:

(a) in case of a final dividend - the balance of the C PESC Profit Account (taking into account the reduction in the C

PESC Profit Account effected by any advance payment on dividends made to the C PESC Shareholder); and

(b) in the case of an advance payment on dividends made to the C PESC Shareholder - the balance of the C PESC

Profit Account determined on the assumption that the calendar day immediately preceding the relevant C PESC Period
End Date is the end of a Financial Year.

22.4 Subject to Article 22.8, on each D Share Period End Date, the balance of the D Share Profit Account will be

declared and paid to the D Shareholders as a dividend, calculated on the following basis:

(a) in case of a final dividend - the balance of the D Share Profit Account (taking into account the reduction in the D

Share Profit Account effected by any advance payment on dividends made to the D Shareholder); and

(b) in the case of an advance payment on dividends made to the D Shareholder - the balance of the D Share Profit

Account determined on the assumption that the calendar day immediately preceding the relevant D Share Period End
Date is the end of a Financial Year.

However, if the option in the Europa Put Option (D Shares) has been exercised, then with respect to the D Share

Period End Date which is the «Completion Date» under that put option, the dividend contemplated by this Article 22.4
must be declared and paid to the D Shareholders before «Completion» occurs under that put option.

22.5 Subject to Article 22.8, on each E Share Period End Date, the balance of the E Share Profit Account will be declared

and paid to the E Shareholders as a dividend, calculated on the following basis:

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(a) in case of a final dividend - the balance of the E Share Profit Account (taking into account the reduction in the E

Share Profit Account effected by any advance payment on dividends made to the E Shareholder); and

(b) in the case of an advance payment on dividends made to the E Shareholder - the balance of the E Share Profit

Account determined on the assumption that the calendar day immediately preceding the relevant E Share Period End
Date is the end of a Financial Year.

22.6 In respect of each Financial Year, an amount (if any) with respect to Compartment 1 will be declared and paid to

the Ordinary Shareholders and the Beneficial Shareholders as a dividend, calculated on the following basis:

(a) in the case of the Beneficial Shareholders - five percent (5%) of the General Profit Account; and
(b) in the case of the Ordinary Shareholders - ninety five percent (95%) of the General Profit Account.
22.7 Any distribution out of the Profit Accounts which is not contemplated by Articles 22.1, 22.2, 22.3, 22.4, 22.5 and

22.6 can only be made to the Shareholders of the relevant Compartment pursuant to a unanimous resolution of the
General Meeting of the shareholders of that Compartment where the entire voting share capital of that Compartment
is present or represented, but without prejudice to the majority requirement set out in Article 18.14.

22.8 To the extent permitted by Luxembourg law, the Board of Directors may pay out an advance payment on dividends

for one or several Compartments (subject to the conditions laid down in Article 72-2 of the Company Law). The Board
of Directors may rely on the advice of Luxembourg legal counsel and the statutory auditor in assessing whether it is
legally permissible to declare and pay a dividend.

22.9 The final dividend for one or several Compartments with respect to a Financial Year must be declared by a

resolution of the General Meeting of the shareholders of that Compartment, but without prejudice to the majority
requirement set out in Article 18.14, and taking into consideration any advance payment on dividends declared by the
Board of Directors with respect to the relevant Compartment and regarding the same Financial Year.

22.10 Any dividends declared by the General Meeting of the Shareholders in accordance with Article 22.9 or by the

Board of Directors in accordance with Article 22.8, and in both cases pursuant to Articles 22.1 through 22.6, shall be
paid to the relevant Shareholders at such time and in such manner as is determined by the Board of Directors; in particular,
the Board of Directors may decide to defer the payment of all or a part of a dividend that has been declared to take into
account any anticipated shortfalls in cash inflows in the relevant Compartment in periods following the relevant Period
End Date.

23. Dissolution and liquidation of the Company.
23.1 The Company may be dissolved pursuant to a resolution of the General Meeting to that effect, which is passed

by a two-thirds majority of the total votes of the Shares entitled to vote in a General Meeting, whether or not present
or represented at the General Meeting.

23.2 The Shareholders of a particular Compartment may, by unanimous consent, request at any time the Board of

Directors to dissolve and liquidate that specific Compartment without dissolving or liquidating other Compartments or
the Company itself. With respect to Compartment 3 exclusively, in addition to the consent of the E Shareholders as
required by these Articles, liquidation of this specific Compartment may not be decided without the consent of the D
Shareholders.

23.3 Should the Company be dissolved and liquidated anticipatively or by expiration of its term (if applicable), the

liquidation of the Company will be carried out by one or more liquidators appointed by the General Meeting which will
determine their powers and their compensation.

23.4 The Board of Directors shall be charged with the liquidation of any Compartment and/or of the Company. In the

case of liquidation of the Company as a whole the General Meeting shall be authorised to assign the liquidation to one
or more liquidators in place of the Board of Directors.

23.5 To the extent possible, these Articles shall remain in effect during the liquidation.
23.6 If one Compartment is liquidated, the proceeds of that Compartment or any assets remaining after payment of

all the debts of that Compartment shall be paid to the Shareholders who have funded the assets of that Compartment.

23.7 With respect to the liquidation of Compartment 1, the following procedure shall be observed:
23.8 Any assets remaining after payment of all of the debts of Compartment 1 shall be applied as follows:
(a) first, to the A PESC Shareholders, the A PESC Investment Amount, where the balance of the A PESC Profit Account

is determined on the assumption that the calendar day immediately preceding the resolution under Article 23.1 is the
end of a Financial Year;

(b) second, to the C PESC Shareholders, the C PESC Investment Amount, where the balance of the C PESC Profit

Account is determined on the assumption that the calendar day immediately preceding the resolution under Article 23.1
is the end of a Financial Year;

and the balance of the B PESC Share Premium Reserve Account;

(d) fourth, to the Beneficial Shareholders, the balance of the Beneficial Share Reserve Account;
(e) fifth, to the Ordinary Shareholders, the paid up part on those Ordinary Shares;

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(f) sixth, to the B PESC Shareholders, the balance of the B PESC Profit Account determined on the assumption that

the calendar day immediately preceding the resolution under Article 23.1 is the end of a Financial Year;

(g) seventh, to the Beneficial Shareholders, five percent (5%) of the remainder after the distributions pursuant to

paragraphs (a) to (f); and

(h) eighth, to the Ordinary Shareholders the remainder after the distributions pursuant to paragraphs (a) to (g).
23.9 After the liquidation has been completed, the books and records of the Company shall be kept for the period

prescribed by law by the person appointed for that purpose in the resolution of the General Meeting to dissolve the
Company. Where the General Meeting has not appointed such person, the liquidators shall do so.

24. Limited Recourse.
24.1 Claims against the Company of holders of equity or debt securities issued by the Company or any other creditors

of the Company are limited in recourse to the assets of the Company.

24.2 Claims of holders of equity or debt securities issued by the Company in relation to a specific Compartment or

any other creditors whose claims arose in relation to such Compartment are limited to the assets of such Compartment
only.

25. Non-Petition.
No holder of any equity or debt securities issued by the Company or any other creditor of the Company (including

those whose claims relate to a particular Compartment) may attach any of the assets of the Company, institute against
or consent to any bankruptcy, insolvency, controlled management, reprieve of payment, composition, moratorium or any
similar proceedings, unless so required by law.

26. Amendments to the Articles.
Subject to Articles 18.15 to 18.17, these Articles may be amended from time to time by a General Meeting if the

amendment is passed by a two thirds majority of the total votes of the Shares held by all Shareholders entitled to vote
on the resolution, whether or not present or represented at the General Meeting.

27. Applicable Law.
27.1 All matters not governed by these Articles shall be determined in accordance with the Applicable Law.

28. Notices.
28.1 Subject to an expression of contrary intention in any particular Article, any notice or other communication to be

given hereunder shall be in writing signed by or on behalf of the party giving it and may be served by sending it by hand-
delivery, pre-paid recorded delivery or other courier service, registered post or confirmed facsimile transmission.

28.2 Subject to an expression of contrary intention in any particular Article, if sent by post, a notice is taken to be

received three (3) Business Days after posting (or seven (7) Business Days after posting if sent by international post). If
sent by fax, a notice is taken to be received at the time shown in the transmission report as the time that the whole fax
was sent, if that is before 5.00pm on a Business Day in the place of receipt, and otherwise at 9.00am on the next Business
Day in that place, unless the recipient notifies the sender by telephone within four (4) working hours in the place of
receipt that the fax was not received in its entirety in legible form. In any case, a notice is received, or deemed to be
received, once it is received, or deemed by this Article 28 to be received, by the primary addressee, regardless of when
it is received or deemed to be received by any copy addressee.

29. Language.
29.1 These Articles are worded in English followed by a French version. In case of divergence between the English and

the French text, the English version shall prevail.

30. Schedule of Key Dates.
30.1 For convenience, but without derogating from the terms of the relevant Articles, this is a schedule of key dates:

Event

Date

End of Financial Year:

21 December XXXX

Notice of annual General Meeting by:

5 March XXXX

Send Annual Accounts to Shareholders by:

5 March XXXX

Annual Accounts available at registered office by:

5 March XXXX

Annual General Meeting on:

21 March XXXX
(or if not a Business Day, the next Business Day)

Final dividend paid on:

21 March XXXX
(or if not a Business Day, the next Business Day)

Schedule 1

Definitions schedule

In these Articles, the following terms have the meanings shown:

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A PESC has the meaning given in Article 5.1
A PESC Coupon Entitlement means an amount (with respect to any A PESC Coupon Period) calculated by multiplying

the A PESC Coupon Rate by the A PESC Investment Amount, and multiplying that total by the actual number of days in
the A PESC Coupon Period, divided by 365.

A PESC Coupon Period means the period:
(a) starting on (and including) the Original Commencement Date or an A PESC Period End Date; and
(b) ending on (but not including) the next A PESC Period End Date,
based on a year of 365 days and the number of whole days in the A PESC Coupon Period.
A PESC Coupon Rate with respect to any A PESC Coupon Period, means:
(a) with respect to a Coupon Period ending on or before 21 December 2009, 6.33 % per annum; and
(b) with respect to a Coupon Period ending after 21 December 2009, 7.33 % per annum.
A PESC Investment Amount means the sum of:
(a) the nominal value of each A PESC multiplied by the number of A PESCs on issue;
(b) the balance of the A PESC Share Premium Reserve Account; and
(c) with respect to any Financial Year, the amounts that have not been fully allocated to the A PESC Profit Account

due to insufficient profits in any previous Financial Year, or which have been allocated to the A PESC Profit Account but
withdrawn due to the allocation of losses.

A PESC Period End Date means:
(a) each 22 June and each 21 December occurring before 2035;
(b) each date of redemption of the A PESCs by the Company pursuant to Article 7; and
(c) the date the Company no longer holds, as an Approved Asset, the CHESS Notes in Compartment 1,
or if such date is not a Business Day, the next Business Day (unless that day falls in the following Financial Year, in

which case the A PESC Period End Date ends on the previous Business Day).

A PESC Profit Account has the meaning given to it in Article 21.1.
A PESC Share Premium Reserve Account has the meaning given to it in Article 5.2.
A PESC Shareholder means a person who holds A PESCs.
Annual Accounts has the meaning given to it in Article 20.2.
Applicable Law has the meaning given to it in Article 1.1.
Approved Assets has the meaning given in Article 4.2(a).
Australian Dollars and AUD mean the lawful currency of the Commonwealth of Australia.
B PESC has the meaning given in Article 5.1
B PESC Coupon Entitlement means an amount (with respect to any B PESC Coupon Period) calculated by multiplying

the B PESC Coupon Rate by the B PESC Investment Amount, and multiplying that total by the actual number of days in
the B PESC Coupon Period, divided by 365.

B PESC Coupon Period means the period:
(a) starting on (and including) the Original Commencement Date or a B PESC Period End Date; and
(b) ending on (but not including) the next B PESC Period End Date,
based on a year of 365 days and the number of whole days in the B PESC Coupon Period.
B PESC Coupon Rate with respect to any B PESC Coupon Period, means:
(a) with respect to a Coupon Period ending on or before 21 December 2009, 6.51 % per annum; and
(b) with respect to a Coupon Period ending after 21 December 2009, 7.51 % per annum.
B PESC Investment Amount means the sum of:
(a) the nominal value of each B PESC multiplied by the number of B PESCs on issue;
(b) the balance of the B PESC Share Premium Reserve Account; and
(c) with respect to any Financial Year, the amounts that have not been fully allocated to the B PESC Profit Account

due to insufficient profits in any previous Financial Year, or which have been allocated to the B PESC Profit Account but
withdrawn due to the allocation of losses.

B PESC Period End Date means:
(a) each 22 June and each 21 December occurring before 2035;
(b) each date of redemption of the B PESCs by the Company pursuant to Article 7; and
(c) the date the Company no longer holds, as an Approved Asset, the CHESS Notes in Compartment 1,
or if such date is not a Business Day, the next Business Day (unless that day falls in the following Financial Year, in

which case the B PESC Period End Date ends on the previous Business Day).

B PESC Profit Account has the meaning given to it in Article 21.1.

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B PESC Share Premium Reserve Account has the meaning given to it in Article 5.2.
B PESC Shareholder means a person who holds B PESCs.
BBVA Notes has the meaning given in Article 4.2(a)(iii).
Beneficial Shares has the meaning given in Article 6.
Beneficial Shareholder a Class A Beneficial Shareholder and/or a Class B Beneficial Shareholder, as the case may be.
Beneficial Share Reserve Account has the meaning given in Article 6.2.
Board of Directors means the board of directors of the Company, as described in Article 11.
Business Day means a day (other than a Saturday or Sunday or public holiday) on which commercial banks are generally

open for business in Luxembourg, Amsterdam, Sydney, Malta and which is a day TARGET is open for general business.

C PESC has the meaning given in Article 5.1
C PESC Coupon Entitlement means an amount (with respect to any C PESC Coupon Period) calculated by multiplying

the C PESC Coupon Rate by the C PESC Investment Amount, and multiplying that total by the actual number of days in
the C PESC Coupon Period, divided by 365.

C PESC Coupon Period means the period:
(a) starting on (and including) the Original Commencement Date or a C PESC Period End Date; and
(b) ending on (but not including) the next C PESC Period End Date,
based on a year of 365 days and the number of whole days in the B PESC Coupon Period.
C PESC Coupon Rate with respect to any C PESC Coupon Period, means:
(a) with respect to a Coupon Period ending on or before 21 December 2009, 6.33 % per annum; and
(b) with respect to a Coupon Period ending after 21 December 2009, 7.33 % per annum.
C PESC Investment Amount means the sum of:
(a) the nominal value of each C PESC multiplied by the number of C PESCs on issue;
(b) the balance of the C PESC Share Premium Reserve Account; and
(c) with respect to any Financial Year, the amounts that have not been fully allocated to the C PESC Profit Account

due to insufficient profits in any previous Financial Year, or which have been allocated to the C PESC Profit Account but
withdrawn due to the allocation of losses.

C PESC Period End Date means:
(a) each 22 June and each 21 December occurring before 2035;
(b) each date of redemption of the C PESCs by the Company pursuant to Article 7; and
(c) the date the Company no longer holds, as an Approved Asset, the CHESS Notes in Compartment 1,
or if such date is not a Business Day, the next Business Day (unless that day falls in the following Financial Year, in

which case the C PESC Period End Date ends on the previous Business Day).

C PESC Profit Account has the meaning given to it in Article 21.1.
C PESC Share Premium Reserve Account has the meaning given to it in Article 5.2.
C PESC Shareholder means a person who holds C PESCs.
CBA GROUP means the Wholly-Owned Group of which Commonwealth Bank of Australia (ABN 48 123 123 124)

is the ultimate parent entity.

Chairman means, at any time, the person appointed as such for the time being in accordance with Article 12.1.
CHESS Notes has the meaning given in Article 4.1.
Class A Beneficial Shares has the meaning given in Article 6.1.
Class A Beneficial Shareholder means a person who holds Class A Beneficial Shares.
Class B Beneficial Shares has the meaning given in Article 6.1.
Class B Beneficial Shareholder means a person who holds Class B Beneficial Shares.
Class C Beneficial Shares has the meaning given in Article 6.1.
Class C Beneficial Shareholder means a person who holds Class C Beneficial Shares.
Committee means a committee created and appointed by the Board of Directors under Article 14.4, and includes the

Compartment 2 Board Committee and the Compartment 3 Board Committee.

Company means the société anonyme with the name of ASSET BACKED INVESTMENTS S.A.
Company Law has the meaning given to it in Article 1.1.
Company Agreement means any agreement with any other person to which the Company is a party.
Compartment has the meaning given in Article 7.1.
Compartment 1 has the meaning given in Article 7.2(a).
Compartment 2 has the meaning given in Article 7.2(b).
Compartment 2 Board Committee has the meaning given in Article 14.5.

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Compartment 3 has the meaning given in Article 7.2(c).
Compartment 3 Board Committee has the meaning given in Article 14.7.
D Share has the meaning given in Article 5.1.
D Share Capital means funds received by the Company from:
(a) the subscription for and issue of D Shares; and
(b) the paying up of capital by the D Shareholder on the D Shares.
D Share Commencement Date means 24 October 2007.
D Share Investment Amount means the sum of:
(a) the nominal value of each D Share multiplied by the number of D Shares on issue; and
(b) the balance of the D Share Premium Reserve Account.
D Share Period End Date means:
(a) each 22 June and each 21 December occurring before 2035;
(b) each Redemption Date for D Shares;
(c) the «Completion Date» under the Europa Put Option (D Shares);
(d) if the D Shareholder has received a Redemption Notice in respect of the D Shares, any date not earlier than the

date the Redemption Notice is received and not later than the Redemption Date specified in the notice, which is nomi-
nated by Director A and Director C to be a D Share Period End Date; and

(e) the date the Company no longer holds any Approved Assets other than cash in hand or at bank in Compartment

or if such date is not a Business Day, the next Business Day (unless that day falls in the following Financial Year, in

which case the D Share Period End Date ends on the previous Business Day).

D Share Profit Account has the meaning given in Article 21.1.
D Share Premium Reserve Account has the meaning given in Article 5.2.
D Share Reinvestment Assets has the meaning given in Article 4.2(a)(iv)
D Share Undistributed Profit means, at any time, the positive balance (if any) of the D Share Profit Account at that

time.

D Shareholder means a person who holds D Shares.
Director A has the meaning given in Article 11.2.
Director B has the meaning given in Article 11.2.
Director C has the meaning given in Article 11.2.
Director O has the meaning given in Article 11.2.
Directors Meeting means a meeting of the Board of Directors convened in accordance with Article 12.
E Share has the meaning given in Article 5.1
E Share Commencement Date means 24 October 2007.
E Share Coupon Entitlement means an amount (with respect to any E Share Coupon Period) calculated by multiplying

the E Share Coupon Rate by the E Share Investment Amount, and multiplying that total by the actual amount of days in
the E Share Coupon Period, divided by 365.

E Share Coupon Period means the period:
(a) starting on (and including) the E Share Commencement Date or an E Share Period End Date; and
(b) ending on (but not including) the next E Share Period End Date,
based on a year of 365 days and the number of whole days in the E Share Coupon Period.
E Share Coupon Rate means 7.14% p.a.
E Share Investment Amount means the sum of:
(a) the nominal value of each E Share multiplied by the number of E Shares on issue; and
(b) the balance of the E Share Premium Reserve Account.
E Share Period End Date means:
(a) each 22 June and each 21 December occurring before 2035;
(b) each date of redemption of the E Shares by the Company pursuant to Article 7; and
(c) the date the Company no longer holds Approved Assets other than cash in hand or at bank in Compartment 3,
or if such date is not a Business Day, the next Business Day (unless that day falls in the following Financial Year, in

which case the E Share Period End Date ends on the previous Business Day).

E Share Profit Account has the meaning given to it in Article 21.1.
E Share Premium Reserve Account has the meaning given in Article 5.2.
E Share Undistributed Profit means, at any time, the positive balance (if any) of the E Share Profit Account at that time.

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E Shareholder means a person who holds E Shares
EMS IV Notes has the meaning given in Article 4.2(a).
EMS VII Notes has the meaning given in Article 4.2(a).
EMS VII Notes CLN has the meaning given in Article 4.2(a).
Encumbrance means any:
(a) security for the payment of money or performance of obligations, including a mortgage, charge, lien, pledge, trust,

power or title retention or flawed deposit arrangement; or

(b) right, interest or arrangement which has the effect of giving another person a preference, priority or advantage

over creditors including any right of set-off; or

attached to any class of Shares; or

(d) any agreement to create any of them or allow them to exist.
euro or € is a reference to the lawful currency of those Member States of the European Union that have adopted the

euro as their official currency in accordance with legislation of the European Union relating to European Monetary Union.

Europa Put Option (D Shares) means an agreement called Europa Put Option (D Shares) dated on or about the D

Shares Commencement Date between CommInternational Limited and ABN AMRO Bank N.V., as amended from time
to time.

Financial Year has the meaning given in Article 20.1.
General Meeting has the meaning given in Article 18.
General Profit Account has the meaning given to it in Article 21.1.
Group Parent means, in relation to a Wholly-Owned Group, the ultimate holding company of that group.
Incidental Assets has the meaning given in Article 4.3.
Insolvent : a person is Insolvent if:
(a) it is, or states that it is, or is declared by a court of competent jurisdiction to be, insolvent or unable to pay it debts

when they fall due; or

(b) it has a receiver or receiver and manager appointed, is under administration or is being Wound up or anyone

(whether or not as agent of another person) is in possession, or has control, of property of that person for the purpose
of enforcing a mortgage, lien, charge, encumbrance or pledge; or

statute or dissolved (in each case, other than to carry out a merger, reconstruction, consolidation or amalgamation while
solvent); or

(d) it is deregistered; or
(e) an order is made or a resolution is passed, in each case in connection with that person, which is preparatory to

any of (a), (b), (c) or (d) above; or

(f) something having a substantially similar effect to (a) to (e) happens in connection with that person under the law

of any jurisdiction.

Investment Criteria means the investment criteria set out in Schedule 2 «Investment Criteria» set out at the end of

these Articles.

Legal Reserve Account has the meaning given in Article 21.1.
Ordinary Shareholder means a person who holds Ordinary Shares.
Ordinary Shares has the meaning given in Article 5.1
Original Commencement Date means 24 November 2003.
Period End Date means each A PESC Period End Date, B PESC Period End Date, C PESC Period End Date, D Share

Period End Date and/or E Share Period End Date, as the case may be.

PESCs means the A PESCs, the B PESCs and the C PESCs, as the case may be.
Profit Accounts means the A PESC Profit Account, the B PESC Profit Account, the C PESC Profit Account, the D

Share Profit Account, the E Share Profit Account, and/or the General Profit Account, as the case may be.

Qualifying Securities has the meaning given in Schedule 2 «Investment Criteria».
Rate Set Agreement means a deed entitled Europa Rate Set Agreement between the Company and others dated on

or about the date the D Shares and E Shares are first issued.

Redeemable Shares means the D Shares and the E Shares.
Redemption Amount means, in respect of the redemption of any Shares, the amount calculated in accordance with

Articles 8.9 to 8.14, as the case may be.

Redemption Date has the meaning given in Article 8.8.
Redemption Notice has the meaning given in Article 8.8.

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Related Party of a person, means any entity that directly or indirectly controls, or is directly or indirectly controlled

by, the person. An entity controls another entity if:

(a) the first entity holds, directly or indirectly, at least fifty-one per cent of the share capital of the second entity; or
(b) the first entity has the capacity to determine the outcome of decisions about the second entity's financial and

operating policies.

Secretary means, at any time, the person appointed as such for the time being in accordance with Article 12.1.
Securitisation Law has the meaning given to it in Article 1.1.
Shares means the Ordinary Shares, the PESCs, the Redeemable Shares and/or the Beneficial Shares, and/or any other

shares issued by the Board of Directors in accordance with these Articles (including, without limitation, under Article
5.2), as the case may be.

Share Register has the meaning given in Article 9.3.
Share Registrar means the person or persons designated by the Company to keep and maintain the Share Register.
Shareholders means the Ordinary Shareholders, A PESC Shareholders, B PESC Shareholders, C PESC Shareholders,

D Shareholders, E Shareholders, and/or Beneficial Shareholders, as the case may be.

TARGET means the Trans-European Automated Real-time Gross settlement Express Transfer system.
« Total Net Earnings available for Distribution » or « TNED » has the meaning given in Article 21.5.
Tranche 2 Notes has the meaning given in Article 4.2(a)(iv).
Vice-Chairman means, at any time, the person appointed as such for the time being in accordance with Article 12.1.
Wholly-Owned Group means a corporate group, all entities within which are wholly-owned, directly or indirectly, by

an ultimate parent entity, and includes that parent entity.

Wholly-Owned Related Entity means, in relation to an entity, another entity who is a member of the same Wholly

Owned Group.

Winding up means, with respect to a person, that:
(a) the person is in liquidation, in provisional liquidation or being wound up, dissolved or deregistered; or
(b) something having substantially similar effect to (a) happens in connection with that person under the law of any

jurisdiction.

Schedule 2

Investment criteria

1. Principles
Principle 1: D Share Capital is to be invested in highly rated tranches of floating rate euro denominated European

Union-based mortgage backed securities with quarterly coupons («Qualifying Securities»), which otherwise satisfy the
criteria in this Schedule.

Principle 2: All receipts of principal from the amortisation or prepayment or repayment of Qualifying Securities (not

otherwise required to fund the redemption of the D Redeemable Shares) are also to be invested in such Qualifying
Securities.

Principle 3: Any amount of D Share Capital which is awaiting re-investment must be placed on interest bearing deposit

with ABN AMRO BANK N.V.

Principle 4: If no acceptable Qualifying Securities can be found for the investment or re-investment of an amount of D

Share Capital, the D Shareholder has the right to require the Compartment 2 Board Committee to deposit or lend those
funds to ABN AMRO BANK N.V. until 31 April 2013 on a secured basis at ABN AMRO BANK N.V.'s publicly offered
Euribor funding rate for the relevant term at the time. The margin on such deposit or loan will be set at the time of
making the loan based on independently verifiable pricing information e.g. rates offered on Reuters / Bloomberg for the
relevant term.

Principle 5: Entering into cross currency and/or interest rate swaps to convert euro principal amounts and euro

coupons into AUD.

2. Principal asset class
D Share Capital must principally be used to acquire Qualifying Securities which otherwise satisfy the other criteria in

this Schedule.

3. Credit rating
As at the date of acquisition, the Qualifying Securities must be credit rated Aaa (Moody's) or AAA (S&P) (or the

equivalent rating from time to time). Where they are rated by both Moody's and S&P, both ratings must be Aaa and AAA
respectively (or the equivalent rating from time to time).

4. Maximum weighted average life of underlying mortgages
The weighted average life of mortgage loans underlying any tranche of Qualifying Securities must be no more than 45

years.

5. Weighted average life of the Qualifying Securities

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The estimated weighted average life of the Qualifying Securities must be no more than 7.5 years at the date of ac-

quisition.

6. Precluded originators

Qualifying Securities cannot be originated by Banco Pastor or UCI. The Compartment 2 Board Committee may by

resolution from time to time add to or subtract from this list of precluded originators.

7. Collateral

100% of the collateral pool of any Qualifying Securities is to comprise first ranking mortgage loans over real property

in countries within the European Union.

8. Weighted average loan to value ratio at date of issue

The maximum weighted average loan to value («WALTV») ratio of the collateral supporting the Qualifying Securities

at the date of issue must be less than 82% unless there is at least 8.0% credit enhancement through the sum of the
subordinated classes of notes on issue and the reserve fund but in any case, the maximum WALTV ratio of any Qualifying
Securities acquired must not exceed 90%.

9. Minimum subordination

Minimum subordination through lower ranking tranches must be:

(a) not less than 5.0% if the Qualifying Securities have a WALTV ratio of less than 82%.

(b) not less than 7.5% if the Qualifying Securities have a WALTV ratio of 82% or more.

10. Minimum average seasoning

Minimum average seasoning of the pool of loans comprising the collateral must be not less than 11 months.

11. Minimum threshold rate on assets

The coupon payment from Qualifying Securities must be no less than 3 month Euribor + 6 basis points and the yield

to expected maturity for the Qualifying Securities must be no less than 3 month Euribor + 6 basis points.»

There being no other business, the meeting was adjourned.

Declaration for tax purposes

Insofar as, pursuant to the present deed, the Company has been converted into a securitisation vehicle governed by

the law 22 March 2004 on securitisation, the Company refers to Article 51 of this law which provides for a fixed capital
contribution duty in case of transformation into an entity governed by this law and in case of new contributions to such
entity.

Costs and expenses

The costs, expenses, remunerations or charges of any form whatsoever incumbent to the Company and charged to

it by reason of the present deed are assessed at EUR 8,000.- (eight thousand euro).

The undersigned notary who speaks and understands English, states herewith that the present deed is worded in

English followed by a French version; at the request of the appearing person and in case of divergences between the two
versions, the English version will prevail.

Whereas the present deed was drawn up in Luxembourg, on the day named at the beginning of this document.

The document having been read to the persons appearing, the said persons have signed together with the notary the

present original deed.

Suit la traduction française du texte qui précède:

(N.B. Pour des raisons techniques, ladite version française est publiée dans le Mémorial C Numéro 2994 du 24 décembre 2007)

Signé: L. Schummer, F. Franckx, M. Jonas, H. Hellinckx.

Enregistré à Luxembourg, le 29 octobre 2007, Relation: LAC/2007/33157. — Reçu 1.250 euros.

Le Receveur ff. (signé): F. Schneider.

Pour copie conforme, delivrée aux fins de la publication au Mémorial, Recueil des Sociétés et Associations.

Luxembourg, le 3 décembre 2007.

H. Hellinckx.

Référence de publication: 2007143118/242/1341.

(070166667) Déposé au registre de commerce et des sociétés de Luxembourg, le 6 décembre 2007.

Editeur:

Service Central de Législation, 43, boulevard F.-D. Roosevelt, L-2450 Luxembourg

Imprimeur: Association momentanée Imprimerie Centrale / Victor Buck

143664

Document Outline

Almatis Investment Holdings S. à r.l.

Antenor S.A.

Asset Backed Investments S.A.

Axolia SA.

Bowland S.à r.l.

Capucine S.A.

Catalux S.A.

Condor Property Europe Holding 1929 S.à r.l.

CSP & P Holding S.A.

Dierickx, Leys Luxembourg S.A.

DimaSilfo S.à r.l.

Filpac S.A.

Financière Truck S.à r.l.

Gelawin S.A.

Hoffmatech S.à r.l.

Iberofinance S.A.

IF TOP Sàrl

IG Log 2 S.à r.l.

IHL

Imar S.A.

Inter-Découpe S.A.

Intrawest Europe Holdings S.à r.l.

Intrawest Luxembourg Holdings S.à r.l.

Invivo S.à r.l. et Cie, S.e.c.s.

IS EF Two S.à r.l.

IS Eurologistics Fund S.à r.l.

IS Eurologistics Investments Sàrl

Klatone

LBREP II Master S.à r.l.

Le Win Property S.A.

Mafluxinvest Holding S.A.

Mirabaud Bonds

Narol Investment S.A.H.

Quorance Holding S.A.

Roberto Frères Tuyauteries Industrielles Lux S.à r.l.

San Investment S.A.

Sigla Luxembourg S.A.

Uplace Management S.A.

Uptake Financial S.A.

Vasterudd S.A.

WB International Holdings VII S.à r.l.

Zitol Holding S.A.