June, 04th 2012

Dear Mr. Taghechian, We are writing to you to show our deep disappointment and to complaint to Traders International because of the reasons explain hereafter. We all got a big surprise after learning that Mr. Enriquez and Ms. Arreaza were dismissed and 4 students were put in charge instead. Four people that in our opinion were not qualified and trustable to be our trading leaders because their lack of experience and personal success as professional traders. Furthermore, and due to the above changes performed, we were encouraged to follow up a new trading plan based on data that was totally corrupted due to the huge amount of mistakes that we found when we have independently checked it up. As you can understand this is a serious issue. Times trading system is a trending one, but since the above changes were placed in TI, we have been encouraged to operate during consolidation or channel periods. It is hard to understand that an institution like Traders International with a wide experience and award-wining education program drives his members to operate in such market framework. As you may know and considering the above as a very important lessening in the quality of the education program, we had two conference calls with the Chief Executives of TI Spain, Mr. Castellano and Mr. Haro, to discuss the latest events occurred in the company. Despite they rejected to accept our requirements, they accepted to keep open the communication channels between both parties. They have not only remained them opened but also they have not replied our emails and calls anymore. In the meantime, we have learnt that a official communication from Mr.Castellano were addressed to all TI members except to us. We can provide you with a copy of that letter that we obtained by chance, but it is a 5 pages letter and it would take a long time for us to translate into English. But in a nutshell, in that letter we were accused to be the bad ones, the ones who were against the process of enhancement. We have been censored and expelled from TI facebook groups after posting our point of view and our deep sense of unease. On 29may12, we received an anonymous and embarrasing video where the current 4 trading leaders were making fun of TI chiefs (including you) and planning the development of an automated trading system based on TI indicators for a further commercialization. This, again, puts in jeopardy TI itself,

thus putting in risk the money invested by all his members. As soon as possible, we addressed this video to Mr.Castellano and Mr Haro for their information. After 48 hours no action was taken. Those four guys were still leading the trading rooms and posting stuff in Facebook. That was totally unacceptable. This fact also shows a deep deficency in internal control, monitoring and management in TI Spain. After the meeting held today with the chiefs of TI Spain where we have been notified that Albert Domnech and Ricardo Torres will remain working for TI Spain we, the undersigned members, have got a decission Considering that we feel that TI Spain responsibles have behaved offensively and discriminately against us, considering that we think that there is a total absence of the promised high level education program, considering that the current professional traders leading our trading room are not proved qualified nor experienced traders and last but not least, considering that there are internal deficiencies that affect internally TI Spain and its ability to provide with the committed educational program, considering that we do not wish to have any relationship with a company that accepts and cover punishable facts, we request to end our link with TradersInternational educational program with the corresponding monetary compensation by the total amount paid without prejudice to take appropriate legal actions.