To address recent concerns of students,we provide the following in an effort to reassure

everyone concerned that there is little risk of SJSM closing down or leaving Bonaire:

SJSM fully intends to fulfill the requirements of the accreditation standards of the Dutch
Government. However, due to the short notice and given that the standards differ so widely
from US and Caribbean accreditation standards, we requested additional time to implement
and perfect the many processes that are required. Positive assessment by an accreditation
body requires evaluation of measurable outcomes of long term processes, such as USMLE
success rate and residency match rates. This cannot realistically be done by October 2013, a
deadline arbitrarily set by the Dutch ministry. Additional time was requested to conclusively
demonstrate the success of these processes. This was recently denied. Please note that
accreditation is not normally a requirement for IMED listing, but is a requirement that has been
laid down by the Dutch government.

Steps taken to maintain uninterrupted operations on Bonaire:

1. Legal recourse: Steps have been taken to ensure that the IMED listing is not affected, based
on the decision of the government not extending the deadline for us to complete the
accreditation process as Saint James does not fall under the purview of the law that is being
applied requiring SJSM to be accredited. In case Government does not change its decision, the
Bonaire courts are likely to allow SJSMs listing to continue till such time that NVAO approval is
obtained.

2. Sub-Campus of SJSM Anguilla: In the unlikely event that the listing with IMED is suspended,
there is the possibility to maintain Bonaire as a sub-campus of SJSM Anguilla till NVAO approval
is obtained. Students will remain eligible for USMLE certification and clinical rotations through
SJSM Anguilla.

3. NVAO Application: Full preparations are on to submit a fresh application to the NVAO by the
second quarter, and invite the panel for a return visit. By the fourth quarter their decision will
be available. We have the option of repeating this process till full approval is obtained.

4. Economic Contribution to Community: It is estimated that the SJSM community contributes

8-10 million dollars to the Bonaire economy which we hope will create some pressure on the
government to change the decision, and give us more time to get accredited.

5. Visit by Legal Counsel: To keep the process as transparent as possible, our legal counsel will
be visiting the school on Thursday to hold a brief meeting to explain the legal recourse and
other questions.

Finally, we want you to remain a Saint James student till graduation. However, the decision is
yours. We hope that you will weigh your options well and make an informed decision. SJSM has
a strong clinical program, minimal waiting times between rotations, green book hospitals, good
residency match rates, and most of all a proven track record and strong finances and
infrastructure. So much so that as many as 5 Caribbean governments have extended offers to
SJSM to open campuses. If this should occur, it will create a third campus in addition to Bonaire
and Anguilla. It would be unfortunate if students panic and transfer out to newer, less
established schools that promise free tuition, advanced standing, fast track programs etc.
Remember, there are no shortcuts to an MD if you want to be accepted to a residency program.

We hope that this and Thursdays meeting will clear up any additional doubts that you may
have.

Thanks.