3/10/08 ...Yesterdays meeting with Law Firms

Freinds:

We had a good meeting with Jake Zamansky yesterday. He has put together a team of specialists from law firms in Washington, D.C. and New York City, to help him prosecute a case on our behalf against any third party entities that helped facilitate the fraud perpetrated by Agape.
His team explained to us that to prevail in that case we will have to establish that these third parties provided “substantial assistance” to Agape. Jake and his team are working hard to investigate and gather facts to demonstrate that third parties should be held accountable for our losses.

To that end, if any of you have information regarding the role played by third parties it would be helpful to pass that information to us so that we can advise the attorneys.

Jake and his team are hoping to file a case on our behalf within 30 days but will not proceed until all legal theories of relief and potential defendants are fully investigated and researched.

We discussed some of the other cases that have already been filed by other law firms and it is clear those cases against Cosmo and his closest associates have little chance of recovering any substantial funds.

No decision has been made as to whether the case should be brought on behalf of a class of all investors or a smaller group of individuals. The pros and cons of each approach were explained to us in some detail. The legal team explained that their initial focus is on building the facts of the case first and then deciding on the precise legal form it will take.

We appreciate the methodical approach they are taking and look forward to reporting progress in the weeks ahead.

Thank you all for your continued assistance and cooperation.