Recent Reports and Communications

Letters and Reports to Investors

Town Hall Meetings

The Receiver has held a series of town hall meetings with investors over the past several months. The first set of meetings took place at the beginning of the receivership on August 26 and September 4, 10, and 11th, in Tel Aviv, New York, Chicago, and Norfolk, Virginia, respectively. Investors at each of these meetings were provided with copies of the Order Appointing a Temporary Receiver, the Order Freezing WexTrust's Assets, and a meeting agenda.

The Tel Aviv meeting on August 26 was held at the Ramat Gan offices of Wextrust Securities, and over 70 Israeli investors attended the meeting. The meeting was conducted in both Hebrew and English.

The New York meeting on September 4 was held at the New York office of Dewey & LeBoeuf LLP, and included presentations by Steven Rawlings, Branch Chief of the Division of Enforcement of the U.S. Securities and Exchange Commission ("SEC"), and Martin Bienenstock, a partner in Dewey & LeBoeuf's Business Solutions & Governance Group. Approximately 110 investors attended the New York town hall either in-person or via teleconference.

The Chicago meeting on September 10 took place at the offices of Wextrust Capital, and was attended, either in person or via teleconference, by approximately 130 investors. Steven Rawlings, Branch Chief of the Division of Enforcement of the SEC, participated in the meeting along with the Receiver.

The Norfolk, Virginia town hall meeting on September 11 was held at the Norfolk Waterside Marriott and included presentations by attorneys from the SEC and Dewey & LeBoeuf LLP. Approximately 260 investors attended the conference in person or via teleconference.

To update investors on the most recent developments in the case, on November 10, 2008, the Receiver hosted a town hall meeting for all Wextrust investors at the New York office of Dewey & LeBoeuf LLP. Both domestic and international investors who were unable to attend the meeting in person were able to participate by telephone, toll-free.

In the future, the Receiver will continue to host town hall meetings with interested parties to update them on the progress of the case. Information about future meetings will be posted on the Receiver's website.