Resolutions for Winding-up

Insolvency Act 1986The City of Edinburgh2005-05-312005-06-03EH22DZEH125HD-3.22176355.945760EH12 5HD-3.19508655.953515EH2 2DZCompanies Act 1985TSO (The Stationery Office), St Crispins, Duke Street, Norwich, NR3 1PD, 01603 622211, customer.services@tso.co.uk258492431/852431/85

Resolution for Winding-Up

Companies Act 1985

Insolvency Act 1986

EDINBURGH INCOME AND VALUE TRUST PLC

At an Extraordinary General Meeting of the members of the above-named Company duly convened and held at Donaldson House, 97 Haymarket Terrace, Edinburgh EH12 5HD on 31 May 2005, the following resolution was passed as a Special Resolution-

“That:-

the Company be wound up voluntarily under the provisions of the Insolvency Act 1986 and that Thomas Merchant Burton and Patrick Joseph Brazzill (the “Liquidators”), both of Ernst & Young LLP, Ten George Street, Edinburgh EH2 2DZ, be and they are hereby appointed liquidators for the purpose of such winding up and any powers conferred on them by law or by this resolution may be exercised, and any act required or authorised under any enactment to be done by them, may be done by them jointly or by each of them alone.”

Chairman of the meeting