Distribution of the Aggregate Assets of the Fund and of the Annual Contributions per Member

The distribution of the Fund value to the Members (share which belongs to them in the Accounts A and B) is represented by Diagrams 7 & 8 below.

It is shown (see Diagram 7) that no significant part of the Fund value corresponds to any team or member as well as no team or Member contributes any significantly great part to the annual contributions of the Fund ( see Diagram 8).

Thus, it is concluded that the Fund does not depend on specific Members / teams for its annual liquidity (contributions) and that there is no risk resulting from the excessive reliance on certain Members that could lead to liquidity problems in case there will be an important number of withdrawals from the Fund.

The most significant risk concerning the reliance of the Fund is the concentration of Members to specific Hotel units and specific Tourist Groups. Based on the data presented by the Committee there is no excessive reliance of the Fund on any specific Group concerning its annual contributions as well as the balances of Accounts A&B of the Members being employed by such specific Groups in the Fund.