The Society has entered into a rental agreement for 7 years with Rijsterborch Vastgoed B.V. in December

2006. The total yearly rent payments amount to € 240,000 per year and are indexed.

NOTE 11. Information on role of board of directors and committees of Oikocredit

Board of directors of Oikocredit

Oikocredit has appointed an international board of directors who has the widest powers in regard of the

management of the Society. It has the authority to decide on all matters which are not specifically attri-

buted and reserved to the general meeting of the Society: the board of directors has the power to delegate

(a part of) its powers to the Managing Director who is responsible for the day to day management of the

Society under specific instructions of the board of directors on financial, economical and social policies.

Further details can be found in article 30 to article 32 in the articles of association of the Society. The board

had three meetings during 2006.

The following persons are member of the board of directors as of December 31, 2006:

Ms Jill Martin - President (Canada)

Ms Ethel Matenge-Sebesho (South Africa)

Mr Gerhard Novy - Vice President (Austria)

Rev Dr Fidon Rwezahula Mwombeki (Tanzania)

Dr Rev Ms Shobha Arole (India)

Mr Eduardo Pietra (Uruguay)

Ms Judith Castañeda (Guatemala)

Mr Ken Vander Weele (United States of America)

Ms Yolanda T. Dela Cruz (Philippines)

Mr Harry Derkx (The Netherlands)

Secretary to the Board:

Mr Ehoue Bleoue Nicaise (Côte d’Ivoire)

Mr Tor G. Gull (Finland)

The Managing Director has established a management team consisting of the following four staff members:

Mr Tor G. Gull - Managing Director (Finland)

Mr Erik Heinen - Director of Credit operations and Deputy to the Managing Director (The Netherlands)

Mr Albert Hofsink - Director of Finance and Administration (The Netherlands)

Mr Ben Simmes - Director of Membership and Investments (The Netherlands)

Audit committee

The annual general meeting has set terms of reference for the audit committee, which consists of three

persons elected by the annual general meeting for a three-year term. The audit committee had two meetings

during 2006, reviewing amongst other the financial statements, internal control structures, the risk manage-

ment project, as well as legal and compliance issues.

Members of audit committee:

Mr Hans Hekkenberg (The Netherlands)

Mr Lars-Olof Hellgren (Sweden)

Ms Jo Jamieson (Canada)

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