EXCERPT FROM THE STATUTE

§ 1                           Name, legal form, seat of the foundation The foundation is named European foundation to the care and renewal of the Operetta It is a not legally responsible foundation. It can be converted into a legally responsible foundation. The foundation has its seat in Munich. Office of the foundation management is in Berlin.

The non-profit character of the foundation was certified on August 18, 2004 by the Munich tax office under the tax number 84 81 51 66.

                                                 § 2 

                                        Foundation purpose 

     1.  The foundation serves the promotion of the art and culture in the area of

          the music. It aims at making an effective contribution to the fact that in

          Germany, preferably in Berlin, a centre of the care of the German

          operetta with European requirement develops. 

     2. The foundation pursues in particular the goal of engaging itself for the

         continuation and the care of the European art kind of the classical

         operetta. This goal is to be pursued by the advancement younger,

         talented artists in the subjects operetta specific stage subject,

         composition, libretto and stage direction and by the exchange and

         co-operation with theatres and organizers in europe, particularly

         however the cities Vienna, Paris, London and Budapest.

    3. The foundation carries out its purposes in particular, by accomplishing

        own projects, which serve the implementation of the foundation purpose.

        Such projects can be training meetings - master courses - and cultural

        public meetings - stage or  performances in concerto form.

    4. The foundation also can sponsor projects of other public or private

        charitable corporations which serve the aims described in paragraph

        1-3 by financial cares.

    5. Goal of the foundation is also, to communicate the intention of the

        foundation in appropriate form to the public, to wake the readiness for

        the financial support of the work of the foundation and in-recruiting

        contributions the trust property.

   6. The effective range of the foundation is not limited to Germany.