AFFIDAVIT OF PAUL GULLY-HART

Paul Gully-Hart, being duly sworn, deposes and says:

1. I am a solicitor and partner at Schellenberg Wimmer in Geneva and Zurich, Switzerland, although my principal office is in Geneva. I am licensed to practice in Switzerland since 1980.

2. On April 5, 2001, I was engaged by Vinson & Elkins, LLP ("V&E") to assist V&E in the investigation of Reed E. Slatkin ("Mr. Slatkin"), his business entities and his associates, in connection with potential misappropriation of moneys invested by Wesley West Interests, Inc. and Stuart Stedman (the "investors") with Mr. Slatkin since 1997.

3. V&E transmitted to me documents proffered by Mr. Slatkin to the investors to explain certain actions that Mr. Slatkin took in 2000 with the investors' money. Specifically, the documents purport to show that Mr. Slatkin arranged for the investors' money to be transferred through a supposed financial intermediary in Europe to two numbered accounts for the benefit of Mr. Slatkin at the UBS, a large Swiss Banking Institution, in Zurich and Geneva, Switzerland. Further, the proffered documentation purports to state that on or about October 10, 2000, UBS began a money laundering investigation into the accounts established on Mr. Slatkin's behalf pursuant to the Financial Action Task Force on Money Laundering (FATF).

4. Upon further investigation, I am informed by UBS officials with senior positions in the legal/compliance department of the Bank in Geneva that the letter on stationery of UBS dated 1st December 2000, purportedly sent by UBS to Mr. Michel AXIALL of N.A.A. Financial and describing the so-called "FATF" Money Laundering Investigations is not an authentic UBS document. The format and content of the letter is not consistent with UBS policy or practice, and the individual named (one "Jacques LEJEUNE Financial Advisor") is not identifiable as a member of UBS personnel. The UBS officials confirmed emphatically that this cannot possibly be a letter originating from UBS. I am told by one of these officials that it is a policy of UBS that any letter of this nature would bear two signatures, whereas this letter only has one signature. I am told that this letter and the other documents purportedly originating from UBS are currently being scrutinized by the Security Department of UBS and that I will be contacted by that Department once that scrutiny has been carried out.

5. The purported financial intermediary, allegedly the account holder at UBS "N.A.A. Financial" is not identifiable as a financial entity in Switzerland. Further investigative efforts conducted at my behest have not revealed the existence of this company at the address listed on its stationery, or its existence at all in the other places listed on the letterhead (Paris or Luxembourg) or the additional location of Monaco as recently described by Mr. Slatkin. There is simply no record of its existence. The investigation has further revealed that Michel AXIALL and one Charles THIBODEAU(X) -- who are both mentioned in the documents provided by Mr. Slatkin -- are not registered with the population register of Monaco, nor do they appear in the telephone directories over the last three years. Michel AXIALL and Charles THIBODEAU(X) were searched for directorships of companies in the Principality but results were negative. Finally, the address given for an entitiy by the name of R.I.T. in the bank statement copies provided by Mr. Slatkin, i.e. 31, av. Princesse Grace in Monaco was physically checked. The property is known as "l'Estoril" apartments and consists of three high-rise blocks. The letterboxes, apartments, concierge and management company were checked for R.I.T., Michel AXIALL and Charles THIBODEAU(X). Results were negative. Nationwide checks in France for companies N.A.A. Financial, Romulus Investment Trust (R.I.T.) and for directors Michel AXIALL and Charles THIBODEAU(X) proved negative.

Date: 12 April 2001 Subscribed
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Paul Gully-Hart