Freedom Holding Inc. (FHLD)

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Email from CEO (update)

For what it is worth, We have electricity to about 1/2 of the field and the
pulling unit is on site and working. Rain is an issue this week, but in
between rain days we are moving forward. I am spending the week down there
next week to assist getting as much done as we can. My goal weather
permitting is to have 12-15 wells pumping 24/7 by the end of next week. So
far we have not seen any decrease of flow for the time we have been able to
pump.

I will keep you updated and hope to have some good news about selling oil
soon. We have enough to sell but the trucks could are not able to get in the
field now and we have not been able to build the stone road to the tanks
just yet. Pray for dry weather.

We have applied with Pink sheets and will be posting 2008 numbers hopefully
next week. Keep in mind this represents only the mortgage division. Q1
numbers will be available hopefully by the end of May.

Thanks,
Brian