By letter dated 24 March 2009, the United Kingdom of Great Britain and Northern Ireland nominated Mr Mike Glycopantis(Head of EU Budget Team, HM Treasury) for appointment as Alternate Member of the Board of Directors following the resignation from the Board of Directors on 16 March 2009 of Mr Jean-Christophe Gray.

By letter dated 31 March 2009, the Board of Governors were invited to vote on the proposed appointment.

The decision to nominate Mr Mike Glycopantis was taken on 21 April 2009, the date on which the requisite majority of Governors' votes was reached.

The term of office of Mr Mike Glycopantis will expire in 2013, at the end of the day of the Annual Meeting of the Board of Governors during which the annual report, balance sheet and profit and loss account for the 2012 financial year are examined.