Montague International Holding (MIHL)

[MIHL Board]

In response as to the refinery - we are speaking with both Oil companies in reference to the following refineries: 1. Marcus Hook Refinery 2. Sunoco Philadelphia Refinery 3. ConocoPhillips’ refinery in Trainer, Pa. The Sunoco Philadelphia Refindery is a long shot since Carlyle Group is currently in an exclusive negotiating period with SUNOCO, however the Marcus Hook Refinery is a likely prospect as well as the ConocoPhillips' Refinery in Traner PA. We are not interested in rust buckets but in a working refinery - however sometimes it makes sense to purchase an existing refinery that needs extensive work if the permits are all in place. It is almost impossible to get new operating permits for a denovo refinery.