Meetings of Creditors

CARNOUSTIE GOLF COURSE HOTEL & RESORT LIMITED

(In Liquidation)

Notice is hereby given that by Interlocutor of the Court of Session in Edinburgh, dated 4 April 2006, I Neil A Armour, CA, and my colleague, Blair C Nimmo, CA, both of KPMG, Unit 2, Delta House, Gemini Crescent, Dundee Technology Park, Dundee DD2 1SW, were appointed Joint Interim Liquidators of Carnoustie Golf Course Hotel & Resort Limited having its registered office at 30 & 34 Reform Street, Dundee, Angus DD1 1RJ.

Pursuant to Section 138(3) of the Insolvency Act 1986 and Rule 4.12 of the Insolvency (Scotland) Rules 1986, the First Meeting of Creditors will be held at The Swallow Hotel, Kingsway West, Invergowrie, Dundee DD2 5JT, at 11.00 am on Tuesday 30 May 2006, for the purposes of choosing a person to be Liquidator of the Company, determining whether to establish a Liquidation Committee and considering any other Resolution specified in Rule 4.12(3).

Creditors’ claims should be made up to 21 March 2006.

A Creditor is entitled to vote only if a claim has been submitted to the Joint Interim Liquidators and his claim has been accepted for voting purposes in whole or in part. Proxies may be lodged at or before the Meeting at the Offices of the Joint Interim Liquidators. A Resolution of the meeting is passed if a majority in value of those voting vote in favour of it.

The provision of Rules 4.15-4.17 and of Part 7 of the Insolvency (Scotland) Rules 1986 apply.

Neil A Armour, Joint Interim Liquidator

KPMG, Unit 2, Delta House, Gemini Crescent, Dundee Technology Park, Dundee DD2 1SW.

18 April 2006.