Purse Bid Minutes from 11/27/2007 - Purse Bid was held at: WBO HEADQUARTERS in San Juan, Puerto Rico for: WBO Super Champion Juan Diaz v WBO Interim Champion Michael Katsidis

Present at the purse bid:

1. Francisco Valcarcel, Esq. President WBO, presided the purse bid

2. Oscar De La Hoya representing Golden Boy Promotions

3. Mario Rivera Martino, WBO Director of Public Relations

4. Doris Companys, WBO Executive Coordinator

The Purse Bid officially began later (11:10 am) waiting to see if any other promoter arrived. Mr. Valcárcel greeted all present. He then stated that Don King had called the day before to advise he was not returning until Wednesday from his USO Thanksgiving Tour to Germany and Iraq for our troops who protect our freedom and security overseas. The purse bid had been advised to all bona fide promoters on November 16, 2007.

Mr. De La Hoya handed Mr. Valcárcel his first envelope it, thus initiating the Purse Bid. Golden Boy Promotions is a bona fide promoter and Oscar De La Hoya its president and Mr. Valcárcel stated it was so for the record. The envelope held the $1,000.00 Purse Bid Deposit Fee.

Mr. Valcárcel then indicated for the record that Mr. De La Hoya was to provide a second envelope, including a written proposal indicating the total purse offered to the Champion and the Challenger, the proposed sites for the Championship Contest, and the proposed date for the Championship Contest, which is to be between 45 and 90 days from the date of the Purse Bid. The bank money order payable to the World Boxing Organization, or money in cash, in the legal tender of the United States of America (Dollars) for an equivalent of Ten (10%) percent of the total of the proposed purse. The Purse Bond of the successful bidder shall be retained by the World Boxing Organization to secure the Champion, Challenger and the WBO in the event that the successful bidder fails to promote the Championship Contest pursuant to the Purse Bid Rules. Mr. Valcárcel also stated for the record that the minimum Purse Bid established for Lightweight is US$150,000.00 (One Hundred Fifty Thousand Dollars).

Then Mr. Valcárcel opened the second envelope that contained a check in the amount of $150,000.00 dollars, representing 10% of the purse offered of $1,500,000.00. The proposed site for the contest is Houston, TX with the stated tentative date the weekend of January 26, 2008. Mr. Valcárcel stated that Mr. De La Hoya technically had until February 27, 2008 to hold the fight, or 90 days from the date of the Purse Bid.

Mr. Valcárcel clarified that the Purse bid division was to be 80/20 ($1,200,000.00 for Super Champion Juan Diaz and $300,000.00 for Interim Champion Michael Katsidis.

Mr. Valcárcel then clarified that the parties must have their contracts signed in Ten (10) Days from the date of the Purse Bid. If Juan Diaz fails to comply with the Purse Bid commitment by not signing the contract, the Interim Champion Katsidis would immediately become the Champion. If Interim Champion Katsidis fails to sign the contract, then Super Champion Juan Diaz would have up to 18 Months to comply with his Mandatory Obligation.

Mr. Valcárcel congratulated Mr. De La Hoya, and thanked all present for their participation in the Purse Bid. The Purse Bid ended at 11:25 p.m. Atlantic Standard Time.