9 May 2014

1. Ezequiel Nasser

Director

Excel Global Opportunities Fund, Ltd.  Av. Paulista, 2421

11oandar

SaoPaulo,SP Brazil

1. Ray Nasser

Director

c/o Excel Wealth Management,LLC

375ParkAvenue,Suite3807

NewYork,NY10022

USA

Dear Sirs,

Re:Excel Global Opportunities Fund, Ltd. (Reg#11066) (“theFund“)

We write to you in your capacity as directors of the Fund.

TheFundisinbreachofSections8(1),8(2)and 9of the MutualFunds Law(2013Revision) (“the Law”) for failing to prepare and submit audited accounts for the years ended   31 December2008 to 2012, and for failing to pay 9 months of penalties on its 2009 fee, 1 month of penalties on its2010 fee and its annual fee and penalties for the years 2011 to 2014, totalling CI$37,958.35 as at 9 May 2014.   The Fund is also in breach of Section 50 of the Companies Law (2013 Revision) for failing to have a registered office.

The Authority has made reasonable efforts to locate and correspond with the directors of the Fund, but to date has been unsuccessful. The Authority is therefore posting this notice publicly in an effort to give notice to all interested parties.

The Authority also gives notice that the lack of communication may   be considered in assessing your fitness and propriety to act as an authorised person in connection with other existing regulated mutual funds and/or licensees, or in future applications where fitness and propriety will be assessed.

Pursuant to provisions in Section 30(16) of the Law, the Authority may a t any time cancel any mutual fund registration if it is satisfied inter alia that the fund has ceased to carry on or attempt to carry on business as a mutual fund.

TAKE NOTCIE:

The Cayman Islands Monetary Authority of 80e Shedden Road, Elizabethan Square, P.O. Box 10052,Grand Cayman KY1-1001, Cayman Islands, proposes to take the following action.

PROPOSED ACTION:

The Authority proposes to cancel the Fund’s registration pursuant to Section 30(16) of the

MutualFundsLaw(2013Revision).

REASONS:

Having considered the representations made that the Fund asked for and received approvalfromall shareholders for the Fund to be dissolved effective 31 March 2008 and given its inability to satisfytheAuthority’sterminationrequirementsand becomecompliantwith the Law,the Authoritycan rely on this information as being sufficient to satisfy itself that the Fund has ceased tocarryon,orattempt to carry on, business as a mutual fund.

NOTICE OF REPRESENTATION:

You may make written representations to the Authority within 28 days of receiving thisWarningNotice, or such longer period as requested of, and approved by the Authority, as to why theproposedaction should not be taken. Written representations should be made to the undersigned at the above address.

Yourfaithfully,

Cindy Scotland

Managing Director