CEASE AND DESIST ORDER ISSUED TO SGL HOLDINGS INC

Basseterre, July 25, 2008 -- The Eastern Caribbean Securities Regulatory Commission (ECSRC) has issued a Cease and Desist Order to SGL Holdings Inc (a company incorporated in Grenada).

Following the review of documents relating to the business of SGL Holdings Inc, the ECSRC determined that SGL Holdings Inc was inviting participation in a collective investment scheme in violation of the Grenada Securities Act No 23 of 2001.  

The Securities Act prohibits a person from carrying on business as a custodian or manager of a collective investment scheme unless that person is licensed to do so by the ECSRC.  In addition, the Securities Act requires that collective investment schemes be authorized by the ECSRC.

SGL Holdings Inc is not a licensed entity under the Securities Act.  Consequently, the ECSRC issued a Cease and Desist Order to SGL Holdings Inc dated 29 May 2008.

The ECSRC is advising the public to refrain from investing with or through persons who are not licensed to conduct securities business under the Securities Act.  

A current list of licensed securities dealers and investment advisers can be found on the ECSRC’s website at www.ecsrc.com.