Dear Members and Special Friends of The Offshore Institute:

The growth of the international financial services industry has been dramatic over the last year. Funds continue to flow into jurisdictions such as Singapore and London, regardless of regulatory developments worldwide. During a year when citizens across the globe, including those in Iraq, are heading to the polls, economic growth and political uncertainty create the greatest opportunities for those of us who manage and protect offshore money. Living in a political stable country, such as the U.S., it is hard to imagine going to bed one evening with a pro-business government in place and awakening the next morning to a newly elected regime with a firm anti-business platform. Nevertheless, even with minor moments of our personal imagination, this scenario is a terrifying reality for many of international potential and current clients.

The economic-political questions surrounding elections worldwide are times of great anxiety for many people; not only regarding their family's and country's future, but for their personal wealth as well. The old investment axiom of 'uncertainty creates opportunity' should be the slogan for the offshore financial services industry. Fear and uncertainty breeds a desire for protection and privacy, which, in turn, creates a demand for our collective services.

But, even fear has its limits in creating demand. Offshore professionals need and are in fact required to be well-informed regarding the changes in institutional and regulatory framework worldwide to properly and efficiently serve our clients. To understand which countries face the most unpredictable future not only can help with marketing to new clients, it can serve as a warning as to where not to invest. While the benefits of such knowledge are obvious, staying on top of these capricious governmental and economic changes is daunting.

With all of the possible changes that we face, the development of a comprehensive, dynamic education program is the aim, goal, and standard for The Offshore Institute. We have been in discussions with other organizations to provide quality materials, conferences and seminars to our membership at no cost or reduced costs, along with our own Roundtables to properly educate and inform you in regard to the changes the world has gone under in the past several years and expect in the future.

Education and Ethics will continue to be the two Es guiding The Offshore Institute. We are continually working to develop these programs to assist and abet our membership in anyway we can. Currently, we are pleased that an extensive calendar of events which have come together which The Offshore Institute has or will be sponsoring in Miami (MGI), Geneva (SHOREX), Denver (TOI Roundtable), Singapore (TOI Roundtable), and other jurisdictions. Blast e-mails will be forthcoming as further details are available and venues and dates are confirmed.

Kind regards,

E. Jerry James

President