2006 Financial Report This report describes ACL assets held in European accounts. A separate consolidated statement of European Chapter finances appears with European Chapter report. The ACL accounts are described as follows: 1. CHF-CH-CURRENT 2006 Swiss franc account held in Switzerland 2. EUR-CH-CURRENT 2006 Euro current account held in Switzerland - no interest 3. EUR-CH-SAVINGS 2006 Euro savings account held in Switzerland - interest bearing 4. EUR-MT-CURRENT 2006 Euro savings account held in Malta - interest bearing 5. CONSOLIDATED ASSETS HELD IN EURO AND CHF BY YEAR Assets held in CHF denominated bond funds (held in Switerland) and EUR denominated bonds (held in Malta). These are shown by year in euro equivalent. 1. CHF-CH-CURRENT 2006 ====================== 1 EUR = 1.65614 CHF CHF EUR EQUIV 31/12/2005 1,295.73 1,295.73 782.38 INCOME pubs+dues 213.30 interest 1.15 total income 214.45 214.45 129.49 EXPENSES bank charges 293.05 total expenses 293.05 -293.05 -176.95 31/12/2006 1,217.13 734.92 Mike Rosner, 22/05/2007 ============================================================================= 2. EUR-CH-CURRENT 2006 ====================== EUR 31.12.2005 3,145.48 EXPENSES EACL06 PC -2,709.69 charges -129.26 31.12.2006 306.53 Mike Rosner 22.05.2007 ============================================================================= 3. EUR-CH-SAVINGS 2006 ====================== 31/12/2005 10,083.40 INCOME Interest 95.90 EXPENSES withholding tax -33.57 31/12/2006 10,145.73 ============================================================================= 4. EUR-MT-CURRENT 2006 ====================== 31/12/2005 43,522.77 INCOME TFR French ac 25,603.56 DUES 9,132.53 INTEREST 229.83 subtotal 34,965.92 34,965.92 EXPENSES Office Expenses -1,000.00 EACL Foundation -101.87 Bonds -50,331.40 EACL06 PC MTG -1,680.74 Tutorials -2,440.16 Inv. Spkrs -2,627.51 Sponsorship EACL06 -2,127.68 ESSLII -3,000.00 SIGNLL -288.43 Lexicom -500.00 CHARGES -117.67 subtotal -64,215.46 -64,215.46 31/12/2006 14,273.23 Mike Rosner 22/05/2007 ============================================================================= 5. CONSOLIDATED ASSETS HELD IN EURO AND CHF BY YEAR =================================================== YEAR EUR EQUIVALENT ==== ============== 2000 152,479 2001 159,427 2002 172,111 2003 177,101 2004 223,449 2005 215,953 2006 202,166 Mike Rosner 22/05/2007