As Custodian of the WVGH Leisure Fund N.V. (hereinafter Leisure Fund) and according to article 121 from the Decree “Supervision of the Code of Conduct for Financial Enterprises”, it is our responsibility to declare that we possess a full description of the operation of the business. This description meets the requirements outlined in article 3:17, second sentence, sub C and article 4:14, first sentence of the Law for Financial Supervision and the business operates effectively and according to the above mentioned description.