Reduction of Capital

-4.26014455.859856G2 6SB2005-06-032005-04-282005-06-022005-05-052005-06-07G26SBG26HR-4.26087655.861452G2 6HRGlasgow CityTSO (The Stationery Office), St Crispins, Duke Street, Norwich, NR3 1PD, 01603 622211, customer.services@tso.co.uk258512610/1522610/152

Reduction of Capital

BRITANNIC UK INCOME TRUST PLC

Notice is hereby given that following a Petition to the Court of Session on 5 May 2005 by Britannic UK Income Trust PLC (the “Company”), a public limited company incorporated under the Companies Acts having its registered office at Britannic Court, 50 Bothwell Street, Glasgow G2 6HR, for confirmation of the cancellation of its share premium account, the Court by Order dated 2 June 2005 confirmed the cancellation of the Company’s share premium account as resolved by special resolution of the Company dated 28 April 2005. As required by the Order, a copy of it was registered with the Registrar of Companies on 3 June 2005.

McGrigors, Pacific House, 70 Wellington Street, Glasgow G2 6SB. Solicitors for the Petitioner.