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Response To Hubbard Press Release

In response to the public statement released on behalf of Mr Hubbard today

The Statutory Managers have been liaising, and continue to liaise, with Mr Hubbard's personal legal advisers. The Statutory Managers put a proposal for immediate legal support to Russell McVeagh during November.

The Statutory Managers are confident that appropriate arrangements would be made for Mr Hubbard's personal legal representation should he face charges from the Serious Fraud Office.

No further comment will be made.

- ends -

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