Redemption or Purchase of Own Shares out of Capital

LOTHIAN INVESTMENT FUND FOR ENTERPRISE LIMITED

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(“the Company”)

The Company has approved a payment out of capital for the purpose of purchasing its own shares. The amount of the permissible capital payment for the shares concerned is £350,356 and the date of the Resolution for the payment out of capital was 21 February 2005. The Statutory Declaration and the Auditor’s Report are available for inspection at the Company’s Registered Office, 101 George Street, Edinburgh. Any creditor of the Company may, within five weeks of the date of the Resolution, apply to the court for an order that prohibits the payment.

By order of the Board.

Robert Mairs, Company Secretary