TRANSLATION FROM FRENCH

Ref.07833

LUXEMBOURG

TRADE AND COMPANIES REGISTRY

EXTRACT OF REGISTRATION

Pictet Funds (LUX) S.A.

Registration No.:B-38034

Date of registration:25/09/1991

Name of Company:

PICTET FUNDS (LUX)

Legal Form:Société anonyme

Registered Office

1, Bd. Royal

L-2449 LUXEMBOURG

Description of the Purpose of the Company:

The purpose of the Company is to invest funds held by it in securities and other assets authorised by applicable law for the purpose of spreading investment risk and to distribute to shareholders the proceeds resulting from the management of assets. The Company may take any measures and conduct any transactions that it deems useful in accomplishing and developing its purpose in the largest sense subject to the law of 20 December 2002 related to undertakings for collective investment.

Capital stock/shareholders’ equity :

Variable

Date of incorporation:20/09/1991

Duration:Indefinite

Accounting year:

This year only, the accounting year starting 01/10/2003 shall close on 31/12/2003.

All other years: 1 January to 31 December

Director(s)/manager(s):

Statutory signature powers: the company shall be bound either by the joint signatures of any two directors of the Company, or by the signature of any other person to whom signature powers have been specially delegated by the board of directors.

Governing body:Board of directors

Last Name: FASELFirst name: Fréderic

Function: Director

Residential or occupational address of the individual:

1, Blvd. Royal, L-2449 Luxembourg

Duration of office: Definite.Date of appointment: 18/04/2006

Until the general shareholders’ meeting to be held in: 2007

Signature powers:Collective with two

Last Name: ETIENNEFirst name: Pierre

Function: Director

Residential or occupational address of the individual:

1, Blvd. Royal, L-2449 Luxembourg

Duration of office: Definite.Date of appointment: 18/04/2006

Until the general shareholders' meeting to be held in: 2007

Signature powers:Collective with two

Last Name: EGGLYFirst name: Pierre-Alain

Function: Director

Residential or occupational address of the individual:

1, Blvd. Royal, L-2449 Luxembourg

Duration of office: Definite.Date of appointment: 18/04/2006

Until the general shareholders’ meeting to be held in: 2007

Signature powers:Collective with two

Last Name: BERGERFirst name: Michèle

Function: Director

Residential or occupational address of the individual:

1, Blvd. Royal, L-2449 Luxembourg

Duration of office: Definite.Date of appointment: 18/04/2006

Until the general shareholders’ meeting to be held in: 2007

Signature powers:Collective with two

Last Name: RAMSEYFirst name: Laurent

Function: Director

Residential or occupational address of the individual:

29, Blvd. Georges Favon, CH-1211 Geneva

Duration of office: Definite.Date of appointment: 18/04/2006

Until the general shareholders’ meeting to be held in: 2007

Signature powers:Collective with two

Last Name: MARTIGNERFirst name: Yves

Function: Director

Residential or occupational address of the individual:

29, Blvd. Georges Favon, CH-1211 Geneva

Duration of office: Definite.Date of appointment: 18/04/2006

Until the general shareholders’ meeting to be held in: 2007

Signature powers:Collective with two

Managing directors

Last Name:GRANDJEANFirst name: Pierre

Function:General director

Last Name:BERGERFirst name: Michelle

Function:General director

Auditor:

Company name:Deloitte SA

Registration no.:B 67895

Function:Auditor

Registered office of entity:

560 Rue de Neudorf, L – 2220 Luxembourg

Duration of mandate:Definite.Appointment date:18/14/2006

Until the general shareholders’ meeting to be held in: 2007

(*) proof of registration. For full details refer to file.

Certified conform copy

Luxembourg, 29/03/2007

For the manager of the Trade and Companies Registry

/s/ Dina MILHEIRO PEREIRA

CERTIFIED TRUE AND CORRECT TRANSLATION

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