British Lumber Corp

212 Village Ct
Ladock, TR2 4NW England
September 10, 2016
Wells Fargo Asset Management
Christopher Sousa
301 S Tryon St
Charlotte, NC 28282
Dear Christopher Sousa:
I am writing you regarding concerns in the allocations of currencies in our companys core
portfolio used for income and expenses. Recent portfolio performance reports have indicated large
declines in the value of the US Dollar and the British Pound relative to other currencies such as
the Euro and Australian Dollar.
We chose Wells Fargo Asset Management to actively manage our large reserves of foreign
currencies which are necessary for us to conduct international business. While we understand the
risks associated with foreign currency trading, we believe a drawdown of 14% in our British Pound
holdings is simply unacceptable. Our financial department cannot account and budget for such an
unexpected loss. As a publicly traded company, our investors, employees, and customers expect
us to deliver exceptional products and earnings. Failure to mitigate risks in our currency holdings
effects our bottom line, market capitalization, and investor/customer confidence.
Our revenue for last fiscal year was $1,260,000,000, mostly in the form of British Pounds. Reliable
and predictable cash holdings are essential for purchasing raw materials, research and
development, and expanding our business. In addition to this, Wall Street earnings estimates are
not currency adjusted and therefore currency price movements effect our stock price, credit rating,
and operating budget.
Our financial department is seeking resolution or a risk mitigation plan from your team.
Additionally, our team would like to change the frequency of portfolio performance reports from
weekly to daily (excluding Saturday and Sunday). Finally, our executive board would like to
schedule a meeting with your team to discuss these items in detail.
Sincerely,

David Collins
Vice President, Finance and Accounting