Published on 4 October 2007

Warning regarding the activities of the companies named PHBC Invest S.A. and PHBC International S.A.

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of the following companies:

PHBC Invest S.A., 134, rue Adolphe Fischer, Luxembourg

PHBC International S.A., 134, rue Adolphe Fischer, Luxembourg

According to the information available to the CSSF, these companies are apparently collecting funds from the public. The CSSF informs the public that the abovementioned companies have not been granted the required authorisation to offer such services in or from Luxembourg.