57AM Bst Int.perp

RNS Number:9805S
BST International Bank, Inc.
23 April 2008



                              NOTICE OF RESOLUTION

                          BST International Bank, Inc.
        (incorporated as an international banking entity in Puerto Rico)
                                (the "Company")


Notice of Resolution of  the Board of Directors of the US$ 360,000,000 Perpetual
   Non-cumulative Guaranteed Step-up Preference Shares ISIN PR11778DAA65 (the
                              "Preference Shares")


NOTICE IS HEREBY GIVEN by BST International Bank, Inc. that it was resolved by
the Board of Directors of the Company, though an Unanimous Consent in Lieu of
Meeting signed by all of the directors of the Corporation on March 19, 2008;
with the unanimous consent of the holders of the Preference Shares and the
consent of the holder of common shares, to amend the resolution adopted by the
Board of Directors on March 13, 2006 fixing and determining the relative rights
and preferences of its Preference Shares (the "Resolutions of Designations"), to
allow for the payment of dividends on the Preference Shares on an annual, rather
than quarterly basis basis and to make certain consequential changes resulting
from such amendment to the payment date.


Consequently, it has been resolved with effect from 19 March 2008:

a)  that all further dividend payments on the Preference Shares will be made
    annually, on the 17 January in each year or, if such date is not a Business 
    Day, on the immediately succeeding Business Day and that such further 
    consequential changes are made to the Preference Shares as are necessary to 
    reflect such amendment. Accordingly, the next dividend payment will be made 
    on 17 January 2009 in respect of the period from 31 December 2007 to that 
    date.

b)  that the Resolutions of Designations be amended and restated by the deletion 
    of the existing Resolutions of Designations in their entirety and the
    substitution in their place of the Amended and Restated Resolutions of
    Designations.

Copies of the Amended and Restated Resolutions of Designations will be available
from the specified office of the Paying and Transfer Agent in London for so long
as any of the Preference Shares remains outstanding.



This Notice is given by:            The Paying and Transfer Agent:
BST International Bank, Inc.
Ponce de Leon No. 221               Deutsche Bank AG, London Branch
Suite 1100                          Winchester House
San Juan                            1 Great Winchester Street
Puerto Rico 00917                   London
(United States of America)          EC2N 2DB, UK


Dated: 31 March 2008





                      This information is provided by RNS
            The company news service from the London Stock Exchange
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