Sequestration of

Ian Cameron Dick

Residing at Little Firs, Castle Brae, Methven, Perthshire

As Permanent Trustee on the Sequestrated Estate of Ian Cameron Dick, I, Ian R Johnston FCCA hereby intimate that the debtor has made an offer of a composition of 100p in the £1 plus interest at the rate of 8% per annum, payable within the period of one month from the date of the Sheriffs Deliverance granting his Discharge, and as security for the implementation of the offer funds are to be lodged with his solicitor in the sum of £20,000.00, to include provision for the whole expenses attending the Sequestration and the remuneration of the Permanent Trustee. The offer has been considered by the Accountant in Bankruptcy who has recommended that the offer be placed before the creditors.

The terms of the offer may be inspected at my office at Royal Exchange, Panmure Street, Dundee during normal office hours.

Ian R Johnston FCCA, Permanent Trustee

Henderson Loggie, Chartered Accountants, Royal Exchange, Panmure Street, Dundee DD1 1DZ

9th August 2004