Dear Members,

Standard and Poors Rating Services has organised a breakfast seminar on Sunday, September 18, 2006.

HOW WILL EMERGING MARKET SOVEREIGNS FARE IF OIL PRICES SPIKE EVEN HIGHER?

The Speaker, David Beers, Managing Director – Global Practice Leader, Sovereign & International Public Finance Ratings, together with his team of sovereign specialists, will be discussing the impact of different oil price scenarios on emerging market sovereigns and the outlook for their credit ratings.

Sunday, September 17, 2005

8:00 – 9:30 AM

Swissôtel The Stamford, Singapore

Sophia Room

Please see the programme here.

Regards

IMAS Secretariat