April 9, 2011

FOR IMMEDIATE RELEASE

April 8, 2011

Libyan Opposition Requests Release of Frozen Qaddafi Assets

Urgent Humanitarian Need

“We are prepared to pay our own bill.”

Washington, D.C. - The Libyan opposition is requesting that the United States and other governments
move quickly to allow the release of frozen Qaddafi regime assets to pay for urgent humanitarian aid in
opposition-controlled areas of Libya. The Transitional National Council of Libya also called for
governments to disclose the details of the regime’s $50 billion plus in assets now held in international
financial institutions and to push for non-compliant countries to complete the asset freeze.

Ali Aujali, the Council’s official representative to the United States, asked the US Department of the
Treasury to allow “immediate access to some of the frozen Gaddafi regime funds to purchase humanitarian
supplies and to support critical services such as hospitals, water distribution and sanitation. The Council
has an obligation to meet the basic needs of the Libyan people and is prepared to pay the bill to do it.”

To facilitate the rapid release of the funds, Aujali outlined an interim plan in a letter to Treasury Secretary
Timothy Geithner that would include the appointment of a Trustee Committee to manage the assets and to
assure that they are released only to well-established, internationally recognized aid organizations.

“The President has very broad authorities under the International Emergency Economic Powers Act
regarding the confiscation and management of frozen assets,” Aujali said. “We seek the establishment of a
mechanism that quickly deploys the assets for the people of Libya that is well within the legal authority
granted to the President.”

The Council also seeks a full accounting of the money Qaddafi moved out of Libya. “The Libyan people
have a right to know what they own. The United States and other countries should publicly disclose the
details of the frozen assets.”
In his April 4th speech, President Obama was clear: “The US will work with the international community to
provide assistance to the people of Libya, who need food for the hungry and medical care for the
wounded. We will safeguard the more than $33 billion that was frozen from the Gaddafi regime so that it
is available to rebuild Libya. After all, this money does not belong to Gaddafi or to the US – it belongs to
the Libyan people, and we will make sure they receive it.” The United Nations Security Council has also
recognized the importance of this issue, and called for frozen assets to be made available to the Libyan
people “as soon as possible.”

A full copy of the letter from Ali Aujali follows.

Transitional National Council of Libya

Washington, D.C.

Office of the Representative to the United States

April 7, 2011

The Honorable Timothy Geithner

Secretary of the Treasury

United States Department of the Treasury

1500 Pennsylvania Avenue, NW, Room 3330

Washington, DC 20220

Dear Secretary Geithner:

As the official representative to the United States of the Transitional National Council of the Libyan
Republic, I would like to express my sincere appreciation for America’s decisive actions in support of the
Libyan people, and in particular for your strong leadership on this issue. The Department of the Treasury
moved with unprecedented speed in February to freeze the Gaddafi regime’s assets.

While we can only ask so much of our American friends, there is nevertheless an urgent need for additional
action. The Council now needs immediate access to the Gaddafi regime’s frozen assets in US financial
institutions to meet the basic needs of the Libyan people.

Over the past 3 weeks, the humanitarian conditions in opposition-held areas have deteriorated. In Misrata,
for example, where 1,300 people were wounded last week by Gaddafi’s armies, one of the only two
hospitals in the city has shut down because it does not have enough medicine and supplies. In other parts of
the country, food has begun to run short and families are going hungry. The problem is particularly acute
for newborns, since supplies of baby formula are completely exhausted in several cities. And now,
according to opposition leaders, there is a growing shortage of currency in Eastern Libya as asset freezes
imposed on the Gaddafi regime also impact the opposition.
The Council again asks the United States Government to allow it immediate access to some of the frozen
Gaddafi regime funds to purchase needed humanitarian supplies and to support critical services such as
hospitals, water distribution and sanitation. The Council has an obligation to meet the basic needs of the
Libyan people and is prepared to pay the bills to do it.

Since our meeting with Acting Under Secretary David Cohen and other Treasury staff on March 11, we
were hoping to have made progress on this urgent request for access to the funds. As we made clear in that
meeting and in others with Administration officials and Members of Congress, we believe that the
President has very broad authorities under the International Emergency Economic Powers Act regarding
the confiscation and management of frozen assets. We seek the establishment of a mechanism that quickly
deploys the assets for the people of Libya in a way that is well within the legal authority granted to the
President.

At the same time, we acknowledge that the US Government has a responsibility to carefully preserve the
assets and then, when released, to assure that the funds flow to a responsible authority for justifiable
purposes. We believe that these requirements can be met.

The Council proposes that:

• The United States appoint a Trustee Committee to manage these frozen assets on behalf of the
Libyan people, in consultation with the representatives of the Transitional National Council;

• The Trustee Committee, in consultation with the Council, appoint globally recognized audit and
asset management firms to account for the assets and to make recommendations to the US
Treasury to preserve their value;

• The Trustee Committee, in consultation with the Council, approve specific uses of the funds for
urgent needs. Funds should immediately be made available for urgent humanitarian needs and
should be routed via respected, internationally-recognized aid organizations. Alternatively, the
Trustee Committee could facilitate loans guaranteed by the frozen assets;

• The US pursue the establishment of a parallel multilateral mechanism through the United Nations;

• The US continue to lead by encouraging other countries such as Turkey to complete the
international freeze on Gaddafi regime assets;

• Finally, the Libyan people have a right to know what they own. The United States and other
countries should publicly disclose the details of the frozen assets.

This is by design an interim mechanism. The Trustee should transfer control of the assets back to the
Government of Libya at an appropriate time. Before transferring control over the assets, the Trustee can
also work to ensure that adequate safeguards are in place for the preservation and appropriate use of
Libya’s wealth.

In President Obama’s speech last Monday, he was clear: “The US will work with the international
community to provide assistance to the people of Libya, who need food for the hungry and medical care for
the wounded. We will safeguard the more than $33 billion that was frozen from the Gaddafi regime so that
it is available to rebuild Libya. After all, this money does not belong to Gaddafi or to the US – it belongs to
the Libyan people, and we will make sure they receive it.” The United Nations Security Council has also
recognized the importance of this issue, and called for frozen assets to be made available to the Libyan
people “as soon as possible.”
We look forward to the day – soon – when a new government will take full control of this wealth and begin
to faithfully discharge its obligations to our people. In the meantime, the US and the international
community should put in place an interim process to allow access to the funds for immediate and essential
humanitarian assistance. The legal authority for the establishment of such a mechanism is clear. It is only
right that the Libyan people have access to money which is rightfully theirs at this moment, their hour of
greatest need.

Sincerely,

Ambassador Ali Aujali

Official Representative to the United States of the Transitional National Council of the Libyan Republic