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PRE 2004

Investment Trust Bank - 16 September 2003

Public Statement - Investment Trust Bank

This statement is made in order to warn investors and others against dealing with unauthorised financial services providers.

Investment Trust Bank ("ITB")
www.investmenttrusteebank.com ("the web site")

The purpose of this statement is to advise the public that ITB has not received authorisation to conduct financial service or deposit-taking business within the meaning of the laws stated below.

ITB is currently offering financial services and banking services over the Internet. The Commission has reason to believe that ITB is claiming to have a connection with Jersey when it does not.

The Jersey Financial Services Commission ("the Commission") has issued this public statement under Article 22 of the Financial Services (Jersey) Law 1998, as amended ("the Financial Services Law") and Article 45B of the Banking Business (Jersey) Law 1991, as amended ("the Banking Business Law").

The Commission wishes it to be known that:

1. The entity calling itself ITB has never been registered, or applied for registration, under the Financial Services Law. Therefore any financial service business, as defined in Article 2 of the Financial Services Law and carried out since 1 July 1999, is a breach of Article 6 of the Financial Services Law.

2. The entity calling itself ITB has never been registered, or applied for registration, under the Banking Business Law. Therefore any deposit-taking business, as defined in Article 3 of the Banking Business Law and carried out since 1 October 1991, is a breach of Article 7 of the Banking Business Law.

3. The Commission has established that no genuine links exist between ITB and the Jersey address quoted on the website.

4. All regulated businesses are listed on the Commission's web site at www.jerseyfsc.org.

Any person who has had dealings with the entity calling itself ITB is requested to contact the Commission.

Gary Godel
Director Enforcement
Jersey Financial Services Commission

Nelson House,
David Place,
St. Helier,
Jersey,
JE4 8TP.

16 September 2003

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