Pursuant to the requirements of the Listing Rules of the Malta Financial Services Authority, the Board has taken cognizance of the Company's size and modest scale of operations when deciding the most appropriate manner to ensure adherence with these principles. The company employs a staff complement of eight full time employees. This size limitation inevitably impacts on the structures required to implement all the Principles, without diluting their effectiveness of thereof.

Composition of the Board
In compliance to the company's Articles of association, the appointment of directors is reserved exclusively to the Company's shareholders.

The board is composed of the following Directors:
Mr Albert Mizzi – Chairman
Mr David G.Curmi
Mr C.J.Farrugia
Ms Marzena Formosa
Mr Brian Mizzi
Mr Adrian Strickland
Mr Gerald J.Zammit.

The Audit Committee

In compliance with the requirements of the Listing Rules issued by the Listing Authority the Board of Directors established an Audit Committee to support it in its responsibilities in dealing with issues of risk; control and governance; and associated assurance.

The Committee's terms of reference of the Audit Committee establish the composition, role and function of the Committee, the parameters of its remit as well as the basis for the processes that it is required to comply with. The Committee is a sub-committee of the Board and directly responsible and accountable to the Board. The Board reserves the right to change these terms of reference from time to time.

The Audit Committee is composed of the following Directors:

Mr C.J.Farrugia – Chairman and member competent in accounting
Ms Marzena Formosa
Mr Adrian Strickland

The above are non-executive directors of the company.

The Executive Committee

The Executive committee is the highest delegated authority by the board in overseeing the activities and management of the company.

The members of the Executive Committee are:

Mr Albert Mizzi - (Chairman)
Mr Lionel A. Lapira – Chief Executive Officer
Mr Gerald J. Zammit – Director
Ms. Dorianne Galea – Centre Manager

The Management of the company

The company's senior management is responsible for all aspects of company's operations. Responsibilities include, leasing, marketing, finance, operations, property development and management, health and safety public relations and human resource management and development. The company's' management structure consists of:

Mr Lionel A.Lapira – Chief Executive Officer
Ms Dorianne Galea – Centre Manager
Ms Charmaine Xuereb Vella – Finance and Administration Executive

External Auditors

PricewaterhouseCoopers are on an annual basis during the company's Annual General Meeting by means of a resolution for their appointment.

The contact details of PricewaterhouseCoopers are:

PricewaterhouseCoopers
167 Merchants Street
Valletta VLT 1174
MALTA

Tel: +356 2124 7000
Fax: +356 2124 4768

Email: info@mt.pwc.com
HYPERLINK "http://www.pwc.com/mt" www.pwc.com/mt