Meetings of Creditors

WADDIE & CO LIMITED

(In Receivership)

WADDIES MARKETING SERVICES LIMITED

(In Receivership)

WADDIE & CO HOLDINGS LIMITED

(In Receivership) (together (“the Companies”)

Notice is hereby given pursuant to Section 67(2) of the Insolvency Act 1986 that a meeting of the Creditors of the Companies will be held at Ten George Street, Edinburgh EH2 2DZ, on 20 June 2005 at the following times for the purposes of having laid before it the Joint Receivers’ Report:

Waddie & Co. Holdings Limited    —  10.01 am,

Waddies Marketing Services Limited  —  10.02 am,

Waddie & Co. Limited      —  10.03 am.

Pursuant to Section 68(1) of the said Act, the meeting may, if it thinks fit, establish a Creditors’ Committee to exercise the functions conferred on creditors’ committees by or under the Act.

Creditors are entitled to attend in person or alternatively by proxy. A creditor may vote only if his claim has been submitted to me and that claim has been accepted in whole or in part. A resolution will be passed only if a majority in value of those voting in person or by proxy vote in favour. Proxies and claims must be lodged with me at or before the meeting.

A J Davison, Joint Receiver

Ernst & Young LLP, Ten George Street, Edinburgh EH2 2DZ.

27 May 2005.