Paris May 11 - 14, 2008

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Alex Warzecha From:

David Kotok [David.Kotok@CUMBER.COM]

Sent:

Monday, April 21, 2008 2:58 PM

To:

COMMENTS@LISTSERV.CUMBER.COM

Subject: GIC conference in Paris, May 11-14

Cumberland Advisors

614 Landis Avenue Vineland NJ 08360-8007 1-800-257-7013 http://www.cumber.com

Paris conference-10 spaces still open

Below is the final agenda for the GIC abroad trip to Paris France, May 11-14. As of this writing there are still 10 open spaces. Some of the items may be filled. Call GIC for details 215-898-9453, www.interdependence.org.

GIC Abroad in France May 11-14, 2008 AGENDA Sunday, May 11th: Location: Aux Anysetiers du Roy, 61, rue St. Louis en L'Isle. Metro: Sully Morland 6:30-7:00pm: Arrival and Cocktails 7:00pm: Dinner Price of Prix Fixe dinner is $60 to be paid in advance to GIC. Does not include drinks.

Monday, May 12th: Location: Bistro de la Muette 10, Chaussee de la Muette 75016 Paris Metro: Muette 9:00am - 9:15am: Delegates arrival and registration 9:15am - 10:00am: Session I Michael Kennedy: Presentation on Outlook by the OECD –Michael Kennedy, Head of the General Economic Assessment Division, Department of Economics, OECD Exclusive briefing and roundtable discussion with Organisation for Economic Co-operation and Development.

(No Press) 10:00am - 10:15am: Break 10:15am - 11:30am: Session II Expert Round Table: Participants will be using one chart and 3-5 minutes to present a topic of concern to the group. GIC delegates will act as discussants. Chatham House Rules will apply. (No Press) Panelists to date include: Moderator: John Silvia, Chief Economist, Wachovia Bank James Smith, Chief Economist, Parsec Financial Management Paul Thomas, Chief Economist, Intel Tom O’Connell Assistant Director General of Central Bank of Ireland Sandra Pianalto, President of Cleveland Federal Reserve Bank Mario Baldassarri, Senator, The Republic of Italy 12:15pm - 1:30pm: Lunch for conference attendees and OECD briefing participants.

Sponsored by Cumberland Advisors and Wachovia Free Afternoon 7:00 - 7:30pm: Drinks and Hors d’oeuvre Location: Cercle de L’Union Interalliee No. 33 Rue du Faubourg Saint-Honoré 7:30 pm: Private Dinner with Paolo Garonna, Deputy Executive Secretary United Nations Economic Commission for Europe. Metro: Concorde and Madeleine Sponsored by Cohen and Company

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The Cercle de l’Union Interalliée is one of Paris’ most distinguished private clubs with its own magnificent park.

The Cercle Interalliée (as it is called) was founded by Marshal Foch and the Count de Beaumont in 1919 to celebrate the allies’ victory in World War I. It is in a beautiful 18th century mansion in Paris’ 8th arrondissement.

Between the British and Japanese embassies, the club is just two blocks from the French President’s Elysée palace. The club’s members include some of France’s most distinguished political, cultural and business figures.

Tuesday, May 13th: Location: Maison des Arts et Métiers, 9 bis Avenue d’Iéna, 75116 Paris, Metro: Iena 8:45am: Registration for Joint GIC / CEPII Conference - Monetary Policy and the Exchange Rate: The Euro and the Dollar 9:10am: Welcome address by CEPII & William Dunkelberg (GIC Chairman, Chief Economist, National Federation Independent Business) 9:20am - 10:30 am: Session I Where are key currencies going?

Moderator: David Kotok (GIC) David Woo, Head of Foreign Exchange Strategy, Barclays Capital Agnès Bénassy-Quéré Director, CEPII Questions /Answers ?

10:35 am - 11:50 am: Session II Coping with exchange rate ups and downs Moderator: Lionel Fontagné (CEPII).

Manuel Balmaseda, Chief Economist, CEMEX Denis Verret, Senior Vice President, Operations and sales, EADS International & Political Affairs France Bill Clark, Director, New Jersey Division of Investments Questions/Answers 11:50 am - 12:10 pm: Coffee break 12:10 pm - 1:10 pm: Session III Monetary policy trade offs Moderator: Laurence Boone (Barclays Capital) Sandra Pianalto, President and Chief Executive Officer, Federal Reserve Bank of Cleveland Christian Noyer, Governor, Banque de France Questions/Answers 1:10 pm – 2:30 pm: Lunch Sponsored by Barclay’s Capital Free Afternoon 7:00 pm: Dinner hosted by Christian Noyer, Governor of the Banque de France Location: Gold Library (Salon Doree) of the Banque de France, Metro: Palais Royal, Bourse and Pyramides Please bring Passport for security purposes.

Wednesday, May 14th Location: French National Archives, 1 rue Robert Esnault Pelterie at the corner of 37 Quai dOrsay, 75 007 Paris Metro: Invalides 9:30am: Arrive for security process Private Tour of the French National Archives 10:00 am: Tour where GIC delegation will have a private tour and viewing of French historical treasures such as: Louisiana Purchase signed by Thomas Jefferson Original Treaty of Alliance signed by Benjamin Franklin Original Treaty of Versailles as well as other historical French national treasures Please bring Passport for security purposes.

Luncheon and Briefing at Paris EUROPLACE 1:00 pm: Luncheon hosted by Mr. Gérard Mestrallet, Chairman, Paris EUROPLACE, Chairman and CEO, Suez.

Lunch will be followed by presentation of the Paris financial market place by Mr. Arnaud de Bresson, Managing Director, Paris EUROPLACE. Location: Place de la Bourse, Palais Brongniart, 75 002 Paris, Metro: Bourse (line n°3) 4:00 pm – 5:00 pm: Travel to meeting with Christine Lagarde, Minister of Finance Location: Ministry of Finance Building,139 Rue de Bercy, Paris 12, Metro: Bercy 5:00 pm – 6:00 pm: Private meeting with Finance Minister of France, Christine Lagarde Please bring Passport for security purposes.

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Cumberland Advisors is a proud sponsor of the Global Interdependence Center.

David R. Kotok, Chairman and Chief Investment Officer, email: david.kotok@cumber.com

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4/24/2008