VALE TRUST LIMITED

At an Extraordinary General Meeting of Vale Trust Limited, held at 5th Floor, Fitzroy House, 18-20 Grafton Street, London W1X 3LG, on 6th March 1998, the following Special Resolution was passed:   “That the Company be wound up as a Members’ voluntary Liquidation, and that Robert Jonathan Hunt, of Price Waterhouse, Cornwall Court, 19 Cornwall Street, Birmingham B3 2DT, is hereby appointed as its Liquidator.” Chairman