Appointment of Receivers

Bream (Hotels) Limited

(Formerly Arthouse Hotel Limited)

(In Receivership)

I, Blair Carnegie Nimmo, Chartered Accountant, 24 Blythswood Square, Glasgow G2 4QS, United Kingdom hereby give notice that Gerard Anthony Friar and I were appointed joint receivers of the whole property and assets of the above company in terms of Section 51 of the Insolvency Act 1986 on 19th March 2004.

In terms of Section 59 of the said Act, Preferential Creditors are required to lodge their formal claims with me within six months of this date.

Blair Carnegie Nimmo, Joint Receiver

24 Blythswood Square, Glasgow G2 4QS, United Kingdom

22nd March 2004