Drexel Asset Management

The Dutch Autoriteit Financiële Markten has issued a warning that Drexel Asset Management (Drexel) with registered offices in Japan and Malaysia is providing investment services without the required authorization. The unauthorized activity of Drexel was the subject of earlier warnings by the Belgian Commission Bancaire et Financière (see Consob Informs 31/2003) and the Malta Financial Services Authority (see Consob Informs 28/2003). (In Consob Informa n. 44/2003 - 17 November 2003)