Annual meeting

[Name]
[Title]
[Address]

[Date]

Dear Mr. Chan, 

The annual meeting of iForward Ltd. will be held on Wednesday, 26 May 2003, beginning at 12:00 noon in the Congress Room of the ABC Hotel located at xxx, Wanchai, Hong Kong

 The meeting is being held for the following purposes:

      •     To consider amending investment advisory agreements

•     To propose a distribution-of-funds plan

•     To review compensation of senior executives

•     To transact other business that may properly come before the meeting 

If you are unable to attend the meeting, please promptly sign and return the enclosed proxy. Thank you.

 We look forward to meeting you on May 26.

Yours truly,

[Name]

[Title]

[Company Name]