Cabinet retains Sidley Austin LLP

Sidley Austin LLP, an international
law firm with 1,700 attorneys and offices in 16 different cities around the
world, will be representing the interests of the Cayman Islands in its relationships
with the public and private sectors in the U.S., in the U.K. and the E.U., and
more broadly in the international financial community.

“We are pleased to be extending our
long-standing relationship with Sidley Austin as part of our global international
relations strategy for the Cayman Islands,” said Premier McKeeva Bush.

“Our focus moving forward is to
take the Cayman Islands to another level in the minds of the international
community which will undoubtedly support our long-term business, economic and
reputation objectives.”

The firm’s relationship with the
Cayman Islands government dates back to 1985 in connection with the negotiation
of the Mutual Legal Assistance Treaty between the Cayman Islands and the U.S.
government. Sidley Austin has advised the Cayman Islands government on numerous
matters, including relationships with the U.S. Department of Justice, the U.S.
Department of Treasury, and the U.S. Securities and Exchange Commission, and
represented the Cayman Islands government in negotiating an Asset Sharing
Agreement with the U.S. government.

In 2008, Sidley Austin supported
the Cayman Islands government’s cooperation with the U.S. Government
Accountability Office in that agency’s review of U.S. business interests in
Cayman. The GAO’s resulting July 2008 report noted that the U.S. Department of
Justice regarded the Cayman Islands as one of its “best partners” among
offshore jurisdictions, and the GAO also recognized that the Cayman Islands has
implemented a regulatory regime that has been recognized to be in compliance
with a wide range of international standards, including the International
Monetary Fund and the Caribbean Financial Action Taskforce.

Most recently, Sidley Austin was
counsel to the Cayman Islands government in its $312 million senior note
offering in 2009.

Sidley Austin’s representation of
the Cayman Islands will be led by Joseph Tompkins, a partner in Sidley Austin’s
Washington, D.C. office, who has represented the Cayman Islands government in
various matters since 1985. Mr. Tompkins will work with a team of Sidley Austin
attorneys in its Washington, D.C., New York, Chicago, London, Brussels and
Asian offices.

Sidley Austin will also assist the
Cayman Islands government marshal resources in areas such as international
communications, government and stakeholder relations and research.