ST. CROIX 116 King Strut. Frederiksted, VI 00840

ST. CROIX 116 King Strut. Frederiksted, VI 00840 (340)773-6499 FAX (340)773-7701 St THOMAS 5055 None Rade. St. Thornis.11 0080Z (340) 774-8104 FAX (340)774-8106 WWW.USVIE0A.ORG 1 877 432-8784 October 17,2012 VIA ELECTRONIC MAIL AND POSTAL SERVICE Erika Kellerhals, Esq. Kellerhals Ferguson, LLP 9100 Havensight Port of Sale, Suite 15-16 St. Thomas, U.S. Virgin Islands 00802 Re: Southern Trust Company, Inc. Dear Attorney Kellerhals: Economic Development Authority On September 21, 2012, the Economic Development Commission received an application on behalf of Southern Trust Company, Inc. for consideration of Economic Development tax Benefits. A review of the application submitted revealed that the following information is missing and must be submitted in order to complete the application: • Release Authorization and Truth Statement for Mr. Jeffrey E. Epstein • Bank Reference letter • Income Tax Return • Form 8821 • Training budget as part of management training plan • Revise 5-Year Projections to include training, charitable contribution and notes to explain assumptions • Will Employee Benefit Plan include life insurance benefits? If yes, provide value. If no, explain • Breakdown of Local vs. nonlocal purchases • Commitment to comply with Section 5 of Act No. 7301 Your timely submittal of the information will aide in the determination of its completeness and further processing of Southern Trust Company, Inc. application prior to scheduling for Public Hearing. Do not hesitate to contact the EDC application unit, should you have any questions related to this request for information. Sincerely, (-6 Three Cc: Jennifer Nugent-Hill, Assistant Chief Executive Officer Esther Joseph, Application Analyst LaShanna McBean, Document Specialist fresh air clean water lots of sunshine EFTA01100239