TMF GROUP GLOBAL INDEPENDENT ADMINISTRATORS

Acquisition of Baker Tilly in Hong Kong (February 2007)

By acquiring the BPO department of Baker Tilly, TMF now has a combined workforce of 51 employees in Hong Kong (including February acquisition of AFS). Ken Deayton and Adrian King will oversee the combined Hong Kong operations. BT Hong Kong has a large client base, mainly subsidiaries of foreign companies.

By combining the current TMF operation with Baker Tilly and AFS in Hong Kong, TMF is expecting to obtain high efficiencies and to service clients best.