SECURITIES COMMISSION OF THE BAHAMAS

PRESS RELEASE - FOR IMMEDIATE RELEASE

RE: STERLING ACS LTD. AND HOWELL W. WOLTZ & VERNICE WOLTZ 

APRIL 26, 2006

Press reports have indicated that, earlier this week, two US citizens (Mr. Howell W. Woltz and Mrs. Vernice Woltz) with business and property interests in The Bahamas were indicted on a number of charges in a North Carolina District Court.  Companies reported to be associated with these individuals include Sterling ACS Ltd (a Bahamian-incorporated company, see below) and Sterling Trust Ltd (said to be an Anguillan company with Nassau offices).

The public is advised that none of the companies named above nor any other company owned or managed by Mr.  & Mrs. Woltz is, or has ever been, licenced by either the Central Bank of The Bahamas or the Securities Commission of The Bahamas.

The public is further advised that Financial & Corporate Service Providers Licences were issued by the Inspector of Financial & Corporate Services Providers to Sterling ACS Ltd., Sterling AG (Bahamas) Ltd., and Mr. Howell Woltz. These licences were held until December 31, 2005 but were not renewed in 2006.

The authorities in The Bahamas continue to be vigilant in protecting the interests of depositors and investors with Bahamian licensed companies. 

For more information please contact: Mr. Hillary Deveaux

Telephone: (242) 356-6291/2

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