Keydata Investment Services Limited (in administration) (KIS)

Update as at 16 October 2009

The position regarding the final outcome of Keydata's administration is still not decided. However, HSBC continues to be in dialogue with the Administrators PwC to ensure a seamless ongoing administration process for your clients' assets.

In the meantime, we would draw your attention to the Administrators website.

Specifically, your attention is drawn to products where HSBC has provided the hedge assets and KIS has provided administrative processing and acted as plan manager. As can be seen in the appendix list attached to the questions and answers (6/10/2009), payments of these plans are being made in the normal course.

We will continue to monitor developments with Keydata and advise when the position becomes clearer.