BRITISH ASSETS VALUE TRUST PLC

Registered Number 3721

In a Petition presented to the Court of Session on 20th February 2003 at the instance of British Assets Trust Plc, a company incorporated under the Companies Acts 1862 to 1886 having its registered office at 1 Charlotte Square, Edinburgh, EH2 4DZ, for an Order confirming the cancellation of its share premium account and capital redemption reserve, the Court has pronounced the following interlocutor:

Edinburgh, 25th February 2003   Lord Eassie

The Lord Ordinary, having considered the Petition, Appoints the Petition to be intimated on the Walls in common form and to be advertised once in each of the Edinburgh Gazette and Scotsman newspapers; Allows any party claiming an interest, to lodge Answers thereto, if so advised, within twenty one days after intimation, advertisement and service.

Allan Finlayson, Depute Clerk of Session

Notice of all of which is hereby given.

Brodies W.S., 15 Atholl Crescent, Edinburgh EH3 8HA

Solicitors for Petitioners

(Ref: CGJ/DSW/DIC/8/228)