Temple Bar Cultural Trust

10th April, 2013

Statement by the Board of the Temple Bar Cultural Trust:

At the request of the Shareholder, the Board of TBCT discussed the Latitude Report into the future of TBCT.

The Board acknowledges the achievements of TBCT but the time has come for reinvigoration of what was the cultural remit of TBCT.

In that context the board recommends to the Shareholder that a process of winding down the Company should be initiated.

The Board is of the view that there is a unique cultural identity to the Temple Bar area, and that the Shareholder should consider how best this can continue to be developed.