Statement of Salt Cay Devco, Ltd.

Statement of Salt Cay Devco Ltd. clarifies the position with respect to the continuation of Salt Cay development:

21st January 2010

We are pleased to announce to the Salt Cay community and the Turks and Caicos public, to all our partners and supporters that we continue to work on the Salt Cay project.

Following the statement we made on 5th August 2009 when we put our project on hold because of the undisclosed direction from British Secretary of State to the Governor we received a letter from Attorney General dated 19th August 2009 in which he confirmed that the Government’s position as follows: - "in order to allow the project to proceed in an orderly manner, and in accordance with all applicable legislation, the Government is prepared to continue interim performance and observance of the Project Documents".

Later, a notice was issued on behalf of the Attorney General’s Chambers to various government departments confirming that: "all matters relating to the above projects [which included Salt Cay] should be dealt with in the normal and usual manner. For example, all applications for licences, permits, registrations, etc., should be dealt with strictly in accordance with the applicable legislation and the TCIG's contractual obligations to the developers concerned, and should not be suspended or delayed without appropriate cause."

We are pleased that the interim government is confirming that they will follow their legal obligations and we anticipate that all our submissions will be dealt with in the normal and usual manner. In return we, as we always have, recognize that before any substantive step can be taken with respect to our project we require the proper permissions and permits to be in place.
We understand that the interim government has reserved their legal rights depending on the results of the special prosecutor’s investigations. We have no difficulty with that and Mario Hoffmann will continue his full cooperation, as he has done all along. We have done nothing wrong and have nothing to hide.

Further, Mario Hoffmann continues the legal challenge to clear his name and demonstrate that he was not treated fairly by the Commission.

We appreciate the great support we are receiving from the people of Salt Cay and majority of the Turks and Caicos community. We are working very closely together and we remain committed to the Salt Cay development.

For further information about project please visit our website www.saltcay.com .
Stefan Kral
CEO
Salt Cay Devco Ldt.