Independent Trustee

external governance & verification . . .

The success of AFE in today’s competitive market is largely due to the strength of the company’s governance.

AFE retains the services of Panama Financial Mangement Services Limited as Independent Trustee to provide independent trustee services over bullion holdings and independent verification services.

No vault access can be made, or bullion removed from bullion vaults, without the signatures of both AFE and the Trustee company, and by the personal attendance of an independent bullion verification agent under the direct instructions of the Trustee company.

Panama Financial Mangement Services Company (PFMS) independently appoints international top-10 auditing firms as independent bullion verification agents. Bullion holdings are independently inspected and verified by the bullion verification agent who is retained and reports directly to the independent trustee company. MORE

Panama Financial Mangement Services Company regularly examines clients account balances against bullion holdings to confirm a minimum of 100% gold and silver bullion backing.

Panama Financial Management Services (PFMS) registered under Panamanian laws as per register (RUC) 665215-1-461828 is engaged by The Anglo Far-East Bullion Company to provide independent custodial services over The Anglo Far-East Bullion Company�s client bullion holdings, principally held in Kloten, Zurich.

There are no cross ownership interests, with no director or shareholder of AFE having financial or beneficial interests in Panama Financial Management Services Ltd.