Redemption or Purchase of Own Shares out of Captial

ARUN ESTATE AGENCIES LIMITED

Notice is hereby given, pursuant to section 175 of the Companies Act 1985, that on 23rd December 1999, the above-named Company approved a payment of £1,691,659 out of capital for the purpose of purchasing 1,700,000 of its own preference shares, that the statutory declaration of the Directors and the auditors’ report, required by section 173 of the Companies Act 1985, are available for inspection at the Company’s registered office at 5 East Street, Horsham, West Sussex, and that any Creditor of the Company may, at any time within the 5 weeks immediately following the aforementioned date, apply to the Court under section 176 of the Companies Act 1985, for an Order prohibiting the payment.