Marriott Vacation Club, Asia Pacific (the "Club") would like to notify all Club Members that HSBC Institutional Trust Services (Singapore) Limited has retired as trustee of the Club with effect from 12 June 2015, and that First Names (Singapore) Pte. Ltd. ("First Names") has been appointed as the new trustee. The appointment of First Names was approved by the Advisory Committee. With effect from 12 June 2015, any reference to "trustee" of the Club in the Disclosure Document & Club Guidelines (as amended and restated from time to time) and any other Club Governing Document shall mean a reference to First Names.