-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HIPBcPKpel3b7gqPm8Qja3UvZUEK7T59pkQxd9SiUGiAu9V5SR8W8HgNyNA79zWF auNJw36viI5xyU568HsIOw== 0000950136-02-000300.txt : 20020414 0000950136-02-000300.hdr.sgml : 20020414 ACCESSION NUMBER: 0000950136-02-000300 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20020205 GROUP MEMBERS: ANDREW PEGGE GROUP MEMBERS: COLIN KINGSNORTH GROUP MEMBERS: LAXEY INVESTORS L.P. GROUP MEMBERS: LAXEY INVESTORS LIMITED GROUP MEMBERS: LAXEY PARTNERS LIMITED FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VALUE CATALYST FUND LTD CENTRAL INDEX KEY: 0001126078 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: PO BOX 309 UGLAND HOUSE SOUTH CHURCH ST CITY: GEORGETOWN CAYMAN IS MAIL ADDRESS: STREET 1: PO BOX 309 UGLAND HOUSE SOUTH CHURCH ST CITY: GEORGETOWN CAYMAN IS SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CHILE FUND INC CENTRAL INDEX KEY: 0000846676 IRS NUMBER: 222990009 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-40493 FILM NUMBER: 02527174 BUSINESS ADDRESS: STREET 1: C/O CREDIT SUISSE ASSET MGMT, LLC STREET 2: 466 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2128753500 MAIL ADDRESS: STREET 1: CREDIT SUISSE ASSET MGMT, LLC STREET 2: 466 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 SC 13D/A 1 file001.txt AMENDMENT NO. 2 TO SCHEDULE 13D ----------------------------- OMB APPROVAL ----------------------------- OMB Number: 3235-0145 ----------------------------- Expires: October 31, 2002 ----------------------------- Estimated average burden hours per response. . . 14.9 ----------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)* THE CHILE FUND, INC. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $0.001 Par Value - -------------------------------------------------------------------------------- (Title of Class of Securities) 168834109 - -------------------------------------------------------------------------------- (CUSIP Number) Andrew Pegge Jeffry S. Hoffman Laxey Partners Limited Swidler Berlin Shereff Friedman, LLP Stanley House The Chrysler Building 7-9 Market Hill 405 Lexington Avenue Douglas New York, NY 10174 Isle of Man IM1 2BF (212) 891-9260 011 44 1624 629365 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) February 5, 2002 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [ ]. NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss. 240.13d-7(b) for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 2 SCHEDULE 13D
- ---------------------------------------------------------------------------------------------------------------------- CUSIP No. 168834109 - ---------- ----------------------------------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) THE VALUE CATALYST FUND LIMITED NO I.R.S. IDENTIFICATION NO. - ---------- ----------------------------------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] (b) [ ] - ---------- ----------------------------------------------------------------------------------------------------------- 3) SEC Use Only - ---------- ----------------------------------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) O O - ---------- ----------------------------------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - ---------- ----------------------------------------------------------------------------------------------------------- 6) Citizenship or Place of Organization Cayman Islands - -------------------- ------- ----------------------------------------------------------------------------------------- Number of 7) Sole Voting Power Shares 0 Beneficially ------- ----------------------------------------------------------------------------------------- Owned by 8) Shared Voting Power Each 405,350 shares Reporting ------- ----------------------------------------------------------------------------------------- Person 9) Sole Dispositive Power With 0 ------- ----------------------------------------------------------------------------------------- 10) Shared Dispositive Power 405,350 shares - -------------------- ------- ----------------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 405,350 shares - ---------- ----------------------------------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - ---------- ----------------------------------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 2.998% - ---------- ----------------------------------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IV* - ---------- -----------------------------------------------------------------------------------------------------------
*Not registered under the Investment Company Act of 1940. 3
- -------------------------------------------------------------------------------------------------------------------- CUSIP No. 168834109 - --------------------------------------------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) LAXEY INVESTORS LIMITED NO I.R.S. IDENTIFICATION NO. - --------- ----------------------------------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] [ ] - --------- ----------------------------------------------------------------------------------------------------------- 3) SEC Use Only - --------- ----------------------------------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) O O - --------- ----------------------------------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - --------- ----------------------------------------------------------------------------------------------------------- 6) Citizenship or Place of Organization British Virgin Islands - -------------------- ------- ---------------------------------------------------------------------------------------- Number of 7) Sole Voting Power Shares 0 Beneficially ------- ---------------------------------------------------------------------------------------- Owned by 8) Shared Voting Power Each 405,350 shares Reporting ------- ---------------------------------------------------------------------------------------- Person 9) Sole Dispositive Power With 0 ------- ----------------------------------------------------------------------------------------- 10) Shared Dispositive Power 405,350 shares - --------- ----------------------------------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 405,350 shares - --------- ----------------------------------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - --------- ----------------------------------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 2.998% - --------- ----------------------------------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IV* - --------- -----------------------------------------------------------------------------------------------------------
*Not registered under the Investment Company Act of 1940. 4
- --------------------------------------------------------------------------------------------------------------------- CUSIP No. 168834109 - --------------------------------------------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) LAXEY INVESTORS L.P. NO I.R.S. IDENTIFICATION NO. - --------- ----------------------------------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] [ ] - --------- ----------------------------------------------------------------------------------------------------------- 3) SEC Use Only - --------- ----------------------------------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) O O - --------- ----------------------------------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - --------- ----------------------------------------------------------------------------------------------------------- 6) Citizenship or Place of Organization Delaware - -------------------- ------- ---------------------------------------------------------------------------------------- Number of 7) Sole Voting Power Shares 0 Beneficially ------- ---------------------------------------------------------------------------------------- Owned by 8) Shared Voting Power Each 300,000 shares Reporting ------- ---------------------------------------------------------------------------------------- Person 9) Sole Dispositive Power With 0 ------- ----------------------------------------------------------------------------------------- 10) Shared Dispositive Power 300,000 shares - --------- ----------------------------------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 300,000 shares - --------- ----------------------------------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - --------- ----------------------------------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 2.2% - --------- ----------------------------------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) PN, IV* - --------- -----------------------------------------------------------------------------------------------------------
* Not registered under the Investment Company Act of 1940. 5
- --------------------------------------------------------------------------------------------------------------------- CUSIP No. 168834109 - --------------------------------------------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) LAXEY PARTNERS LIMITED NO I.R.S. IDENTIFICATION NO. - --------- ----------------------------------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] [ ] - --------- ----------------------------------------------------------------------------------------------------------- 3) SEC Use Only - --------- ----------------------------------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) N/A - --------- ----------------------------------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - --------- ----------------------------------------------------------------------------------------------------------- 6) Citizenship or Place of Organization Isle of Man - -------------------- ------- ---------------------------------------------------------------------------------------- Number of 7) Sole Voting Power Shares 0 Beneficially ------- ---------------------------------------------------------------------------------------- Owned by 8) Shared Voting Power Each 1,867,050 shares Reporting ------- ---------------------------------------------------------------------------------------- Person 9) Sole Dispositive Power With 0 ------- ----------------------------------------------------------------------------------------- 10) Shared Dispositive Power 1,867,050 shares - --------- ----------------------------------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 1,867,050 shares - --------- ----------------------------------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - --------- ----------------------------------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 13.8% - --------- ----------------------------------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IV* - --------- -----------------------------------------------------------------------------------------------------------
*Not registered under the Investment Company Act of 1940. 6
- --------------------------------------------------------------------------------------------------------------------- CUSIP No. 168834109 - --------- ----------------------------------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) COLIN KINGSNORTH - --------- ----------------------------------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] [ ] - --------- ----------------------------------------------------------------------------------------------------------- 3) SEC Use Only - --------- ----------------------------------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) N/A - --------- ----------------------------------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - --------- ----------------------------------------------------------------------------------------------------------- 6) Citizenship or Place of Organization British - -------------------- ------- ---------------------------------------------------------------------------------------- Number of 7) Sole Voting Power Shares 0 Beneficially ------- ---------------------------------------------------------------------------------------- Owned by 8) Shared Voting Power Each 1,867,050 shares Reporting ------- ---------------------------------------------------------------------------------------- Person 9) Sole Dispositive Power With 0 ------- ---------------------------------------------------------------------------------------- 10) Shared Dispositive Power 1,867,050 shares - --------- ----------------------------------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 1,867,050 shares - --------- ----------------------------------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - --------- ----------------------------------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 13.8% - --------- ----------------------------------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IN - --------- -----------------------------------------------------------------------------------------------------------
7
- --------------------------------------------------------------------------------------------------------------------- CUSIP No. 168834109 - --------------------------------------------------------------------------------------------------------------------- 1) Name of Reporting Persons I.R.S. Identification No. of Above Persons (entities only) ANDREW PEGGE - --------- ----------------------------------------------------------------------------------------------------------- 2) Check the Appropriate Box if a Member of a Group (See Instructions) (a) [X] [ ] - --------- ----------------------------------------------------------------------------------------------------------- 3) SEC Use Only - --------- ----------------------------------------------------------------------------------------------------------- 4) Source of Funds (See Instructions) N/A - --------- ----------------------------------------------------------------------------------------------------------- 5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) [ ] - --------- ----------------------------------------------------------------------------------------------------------- 6) Citizenship or Place of Organization British - -------------------- ------- ---------------------------------------------------------------------------------------- Number of 7) Sole Voting Power Shares 0 Beneficially ------- ---------------------------------------------------------------------------------------- Owned by 8) Shared Voting Power Each 1,867,050 shares Reporting ------- ---------------------------------------------------------------------------------------- Person 9) Sole Dispositive Power With 0 ------- ---------------------------------------------------------------------------------------- 10) Shared Dispositive Power 1,867,050 shares - --------- ----------------------------------------------------------------------------------------------------------- 11) Aggregate Amount Beneficially Owned by Each Reporting Person 1,867,050 shares - --------- ----------------------------------------------------------------------------------------------------------- 12) Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] - --------- ----------------------------------------------------------------------------------------------------------- 13) Percent of Class Represented by Amount in Row (11) 13.8% - --------- ----------------------------------------------------------------------------------------------------------- 14) Type of Reporting Person (See Instructions) IN - --------- -----------------------------------------------------------------------------------------------------------
8 This Amendment No. 2 to the Statement on Schedule 13D amends and supplements Items 4 and 7 of the Statement on Schedule 13D originally filed with the Securities and Exchange Commission on May 30, 2001 and amended by Amendment No. 1 to the Statement on Schedule 13D filed on January 15, 2002 (collectively, the "Schedule 13D") by The Value Catalyst Fund Limited, Laxey Investors Limited, Laxey Investors L.P. and Laxey Partners Limited with respect to the shares of Common Stock, par value $0.001 per share (the "Common Stock"), of The Chile Fund, Inc. (the "Fund"). ITEM 4. PURPOSE OF TRANSACTION Item 4 is hereby amended to supplement the original Item 4 as follows: On February 5, 2002, Catalyst delivered a letter to the Fund to provide notice of its intent to nominate two directors for election by the Fund's stockholders at the next annual meeting of the stockholders in accordance with Section 3.3 of the Fund's By-laws. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS Item 7 is hereby amended to supplement the original Item 7 as follows: Exhibit A. Letter dated February 5, 2002 to the Secretary of The Chile Fund, Inc. regarding notice of intent to nominate directors at the next annual meeting of stockholders. SIGNATURES After reasonable inquiry and to the best of the knowledge and belief of the undersigned, the undersigned hereby certify that the information set forth in this Amendment No. 2 to Schedule 13D is true, complete and correct. Dated: February 5, 2002 THE VALUE CATALYST FUND LIMITED By: /s/ Elizabeth Tansell ----------------------------------- Name: Elizabeth Tansell Title: Director LAXEY INVESTORS LIMITED By: /s/ Andrew Pegge ----------------------------------- Name: Andrew Pegge Title: Director LAXEY PARTNERS LIMITED By: /s/ Andrew Pegge ----------------------------------- Name: Andrew Pegge Title: Director /s/ Colin Kingsnorth --------------------------------------- Colin Kingsnorth /s/ Andrew Pegge --------------------------------------- Andrew Pegge LAXEY INVESTORS L.P. By: Laxey Partners (GP) Limited, as General Partner By: /s/ Andrew Pegge ------------------------------------------------- Name: Andrew Pegge Title: Director EXHIBIT A VALUE CATALYST FUND LIMITED c/o Laxey Partners Limited Stanley House, 7-9 Market Hill Douglas, Isle of Man, IM1 2BF Tel: 01624 690900 Fax: 01624 623819 www.laxeypartners.com February 5, 2002 VIA HAND DELIVERY Michael A. Pignataro Secretary The Chile Fund, Inc. 466 Lexington Avenue, 16th Floor New York, NY 10017 RE: THE CHILE FUND, INC.: NOMINATION OF DIRECTORS Dear Mr. Pignataro, In accordance with the notice provisions set forth in Article 3.3(c) of the Bylaws of The Chile Fund, Inc. (the "Fund") and pursuant to Article 3.3(b) of the Bylaws of the Fund, The Value Catalyst Fund Limited, as the record holder of 500 shares of the Fund's common stock, hereby notifies you of our intent to appear in person or by proxy to nominate the following persons for election as Directors at the Fund's 2002 Annual Meeting of Stockholders. 1. Francis Rupert Chad Lea 2. George Alexander Skouras Annex A hereto sets forth information concerning each such nominee that is required to be included in this notice pursuant to Article 3.3(c) of the Fund's Bylaws. The Value Catalyst Fund Limited is a member of a group, as defined in the Investment Company Act of 1940, as amended, formed to solicit proxies from other stockholders of the Fund in support of such nominations (the "Value Group"). The Value Catalyst Fund Limited is the beneficial owner of 405,350 shares of the Fund's common stock, of which 500 shares are held in record name. As of February 4, 2002, the Value Group is the beneficial holder of 1,867,050 shares of the Fund's Common Stock. Annex B hereto sets forth information concerning the Value Group's address, telephone number, and beneficial ownership of shares of the Fund. Although we have no reason to believe that the above-named nominees will not serve if elected, we reserve the right to substitute either of the above-named nominees, prior to the 2002 Annual Meeting of Stockholders, with another nominee of our choosing that possesses the requisite qualifications pursuant to the Fund's Bylaws. In that event, we will provide notice to you as soon as practicable. We reserve the right to increase the number of nominees we propose in the event that more than two (2) directors will be elected at the Fund's 2002 Annual Meeting of Stockholders. The Value Catalyst Fund Limited has entered into Indemnification Agreements with each of the nominees indemnifying each of the nominees to the extent permitted under the laws of England with respect to their nomination. Enclosed are copies of letters from each of the above nominees consenting to being named as a nominee in a proxy statement with respect to the election of directors at the Fund's 2002 Annual Meeting of Stockholders and to serving as a director of the Fund if elected at such meeting. The executed letters are being sent under separate cover. The Laxey Nominees do not currently intend to seek reimbursement of the costs of solicitation for the election of directors from the Fund but may decide to do so in the future in the event that either or both of the Laxey Nominees are elected. If any further information is required concerning any of our nominees, please do not hesitate to contact us. Sincerely, THE VALUE CATALYST FUND LIMITED By:/s/ Elizabeth Tansell ------------------------------ Name: Elizabeth Tansell Title: Director ANNEX A NOMINEE INFORMATION 1. FRANCIS RUPERT CHAD LEA, AGE 44 Business Address: Laxey Partners (UK) Ltd., Unit 28 Chelsea Wharf, Lots Road Chelsea, London SW10 0QJ U.K. Residence Address: Duxford Mill Mill Lane Duxford Cambridge CB2 4PT United Kingdom Principal Occupation: Investment management, Laxey Partners (UK) Ltd. Beneficial Ownership or Record Ownership of The Chile Fund, Inc. by Nominee: None. Other Directorships Held: None. Brief Description of Arrangement or Understandings between Nominee and The Value Catalyst Fund Limited Employment as Director at Laxey Partners (UK) Ltd., the investment manager for The Value Catalyst Fund Limited. The Value Catalyst Fund Limited has entered into an Indemnification Agreement with Nominee indemnifying the Nominee to the extent permitted under the laws of England with respect to his nomination. 2. GEORGE ALEXANDER SKOURAS, AGE 47 Business Address: HKC Securities, Inc. 230 Park Avenue, 7th Floor New York, NY 10169 Residence Address: 34 Skyridge Road Greenwich, CT 06831 Principal Occupation: Investment Banker, HKC Securities, Inc. (an investment company) Beneficial Ownership or Record Ownership of The Chile Fund, Inc. by Nominee: None. Other Directorships Held: None. Brief Description of Arrangement or Understandings between Nominee and The Value Catalyst Fund Limited: HKC Securities, Inc. has been retained by certain affiliates of The Value Catalyst Fund Limited to assist in raising capital for such funds. The Value Catalyst Fund Limited has entered into an Indemnification Agreement with Nominee indemnifying Nominee to the extent permitted under the laws of England with respect to his nomination. ANNEX B STOCKHOLDER INFORMATION The name, address, telephone number and the number of shares of common stock beneficially owned by The Value Catalyst Fund Limited and its investment manager is as follows: The Value Catalyst Fund Limited, a Cayman Islands company ("Catalyst"): Catalyst is a private investment company formed in May 2000 and created to allow investors to take advantage of investment opportunities in closed-end funds and similar investment entities. The address of Catalyst's principal business and principal office is P.O. Box 309, Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands, British West Indies. Their telephone number is (345) 949 8066. As of February 4, 2002, Catalyst is the beneficial owner of 405,350 shares of the Fund. Laxey Partners Limited, an Isle of Man company ("Laxey"): Laxey is the investment manager for Catalyst, subject to the overall control of the directors of Catalyst. Formed in November 1998, Laxey is a global active value fund manager specializing in arbitrage-led investment. The address of Laxey's principal business and principal office is Stanley House, 7-9 Market Hill, Douglas, Isle of Man IM1 2BF. Their telephone number is 01624-690-900. As of February 4, 2002, Laxey is the beneficial owner of 1,867,050 shares of the Fund. Colin Kingsnorth, a British citizen ("Kingsnorth"); and Andrew Pegge, a British citizen ("Pegge"): Each of Messrs. Kingsnorth and Pegge own one half of the outstanding equity of Laxey. Kingsnorth's principal occupation is that of portfolio manager and director of Laxey. His business address is 28 Chelsea Wharf, Lots Road, London, SW10 0QJ, United Kingdom. Pegge's principal occupation is also that of portfolio manager and director of Laxey and his business address is Stanley House, 7-9 Market Hill, Douglas, Isle of Man, IM1 2BF, United Kingdom. Their telephone numbers are 0207-349-5566 and 01624-69-0900, respectively. As of February 4, 2002, each of Messrs. Kingsnorth and Pegge is the beneficial owner of 1,867,050 shares of the Fund. February 4, 2002 Mr. Michael Pignataro Secretary The Chile Fund, Inc. 466 Lexington Avenue, 16th Floor New York, NY 10017 RE: WRITTEN CONSENT TO SERVE AS DIRECTOR OF THE CHILE FUND, INC. Dear Mr. Pignataro, The undersigned hereby consents to being named by Value Catalyst Fund Limited as a nominee for Director of The Chile Fund, Inc. (the "Fund") pursuant to Article 3.3 of the Fund's Bylaws and accepts such nomination. The undersigned also hereby confirms his intent to serve as Director of the Fund, if so elected at the Fund's 2002 Annual Meeting of Stockholders, for a term of three (3) years and until the election and qualification of his successor. Sincerely, /s/ Francis Rupert Chad Lea - ------------------------------------ Name: Francis Rupert Chad Lea February 4, 2002 Mr. Michael Pignataro Secretary The Chile Fund, Inc. 466 Lexington Avenue, 16th Floor New York, NY 10017 RE: WRITTEN CONSENT TO SERVE AS DIRECTOR OF THE CHILE FUND, INC. Dear Mr. Pignataro, The undersigned hereby consents to being named by Value Catalyst Fund Limited as a nominee for Director of The Chile Fund, Inc. (the "Fund") pursuant to Article 3.3 of the Fund's Bylaws and accepts such nomination. The undersigned also hereby confirms his intent to serve as Director of the Fund, if so elected at the Fund's 2002 Annual Meeting of Stockholders, for a term of three (3) years and until the election and qualification of his successor. Sincerely, /s/ George Alexander Skouras - --------------------------------------- Name: George Alexander Skouras -----END PRIVACY-ENHANCED MESSAGE-----