S.M. MAGAZINE DISTRIBUTION LIMITED

At an Extraordinary General Meeting of the above-named Company, duly convened, and held at 4 Charterhouse Square, London EC1M 6EN, on 2nd March 1998, the subjoined Extraordinry Resolutions were duly passed:   “That it has been proved to the satisfaction of this Meeting that the Compny cannot, by reason of its liabilities, continue its business, and that it is advisable to wind up, and that Eric William Sheppard, of 4 Charterhouse Square, London EC1M 6EN, and he is hereby nominated as Liquidator of the Company for the purposes of such winding-up.” I. G. H. Leggett, Director