Vopak complies with the majority of the principles and best practices laid down in the Dutch Corporate Governance Code (the ‘Code’). The number of exceptions to the best practice provisions in 2008 remained unchanged from 2007. For our stakeholders and in accordance with prior recommendations of the Monitoring Committee Corporate Governance Code (the ‘Monitoring Committee’), we include transparent, specific and concise information on the various risks and the manner in which the organization manages these risks in our external accountability and reporting on risks and risk management. We have closely monitored the results of the consultative sessions on the preparation and effectiveness of the General Meeting of Shareholders (the ‘General Meeting’) recently initiated by the Monitoring Committee as well as the dialogue between the company and its shareholders. We have taken notice of the revised Code as published by the Monitoring Committee on December 10, 2008 and are reviewing what the implications will be for Vopak.