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TEAK CONTROVERSY IN THE NETHERLANDS



All following translations are provided by Treemail, who herewith issue full
disclaimer and refer readership  to original sources. Please send replys or
comments to the list or to the central database on this subject at:
centeno@ciens.ula.ve

In Het Financieele Dagblad (the financial daily) of Wednesday 7 February 1996:

OHRA considers legal steps against senior Professor [this is caption]

Insurance company OHRA considers starting legal procedures against the
senior Professor Julio Centeno from Venezuela. End of January this forestry
expert publicly accused OHRA and WWF-NL of fraud. Ohra will probably decide
upon the matter in March.

"Then we will be in the clear if legal procedures against someone from
Venezuela can be successful" according to a spokesperson. "We are
investigating this now".

OHRA and WWF-NL, together with the Costa Rican forestry company Ohra mislead
investors with the Teakwood policies, according to Professor Centeno. He has
even made an appeal to Prins Bernhard as custodian of WWF-NL. He recently
invested the forestry expert with the highest WWF award, the Golden Arc.

If Ohra would start legal procedures, this would be the umpteenth procedure
surrounding the Teakwood investment scheme. Early this year the President of
the Court in the Hague, A. van Delden, already dismissed a case that was
aimed at silencing a difficult former advisor. This former advisor, L. van
Weezendonk, made negative comments on the OHRA policy in a news programme NOVA.

[end of full article]

Het Financieele Dagblad (most authoritative financial newspaper in NL) of 9
February 1996:

Forestry Professor Challenges OHRA (=Caption)

The Venezuelan forestry expert Centeno challenges insurance company OHRA. "I
am prepared to meet OHRA in court. Then I can tell that the rates of return
the insurer promises for its teakprojects are irrealistic". This is
Venezuelan Professor Julio Centeno's reaction to the OHRA statement of
earlier this week that they consider to summon Centeno in court.

Centeno has accused OHRA of possible fraud. That has not gone down well with
the insusres. In March OHRA wants to decide on possible legal procedures
agianst Centeno.

To simplify a court case, Centeno has already taken up his domicile with
Utrecht lawyer mr. B.E.J.M. Tomlow. "We are ready; let Ohra come and have
it" says Tomlow. At Ohra no one was available for comment.

[end of full article]




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