Resolution for Winding-Up

The Companies Act 1985

Special Resolution of

XL STEEL LIMITED

At an Extraordinary General Meeting of the Members of the above named company, duly convened and held at Royal Exchange, Panmure Street, Dundee DD1 1DZ on 1 March 2007 the following Special Resolution was duly passed:

“That the Company be wound up voluntarily and that Ian D Mitchell CA, Royal Exchange, Panmure Street, Dundee be and is hereby appointed Liquidator for the purposes of such winding up and that he is authorised to make distributions in specie if he considers it appropriate.”

Geoffrey Reid, Director