In the High Court of Justice (In England) Chancery Division.  No. 6343 of 1999 In the Matter of SOVEREIGN MARINE & GENERAL INSURANCE COMPANY LIMITED (in Provisional Liquidation) and in the Matter of the Companies Act 1985 Notice is hereby given that, by an Order dated 5th October 1999, made in the High Court of Justice in the matter of Sovereign Marine & General Insurance Company Limited (the “Company”), a Meeting was ordered to be summoned of Scheme Creditors (as defined in the scheme of arrangement hereinafter mentioned) of the Company for the purpose of considering and, if thought fit, agreeing to a scheme of arrangement proposed to be made between the Company and its Scheme Creditors pursuant to section 425 of the Companies Act 1985 (the “Scheme”). The Meeting will be held at The Insurance Hall, The Chartered Insurance Institute, 20 Aldermanbury, London EC2V 7HY, United Kingdom, on Monday, 29th November 1999, at 11 a.m. The Chairman of the Meeting will address Scheme Creditors on the Scheme and on issues relevant to voting at the commencement of the Meeting. Scheme Creditors may attend and vote at the Meeting either in person or by proxy and are, in any event, requested to complete a form of proxy and claims tables for voting purposes (the “Form of Proxy”) and return it to the Provisional Liquidators of the Company at KPMG, PO Box 730, 20 Farringdon Street, London EC4A 4PP, United Kingdom, by 4 p.m. on Friday, 26th November 1999, although if not so returned, it may be handed in between 10 a.m. and 11 a.m. on the day of the Meeting at the place fixed for the Meeting. Each Scheme Creditor or his proxy will be required to register his attendance at the Meeting prior to its commencement. Registration will commence at 10 a.m. The Scheme is proposed between the Company and its Scheme Creditors (being Creditors in respect of any claim arising out of a liability to which the Company is subject at the date of the Scheme or to which it may become subject thereafter by reason of an obligation incurred before that date, except any claim which would have been preferential in a Liquidation of the Company or a claim in respect of the costs or expenses of the Scheme both of which will be payable in full). Any person entitled to attend the Meeting can obtain copies of the Scheme, the statement required pursuant to section 426 of the Companies Act 1985, and of the form of proxy from the Provisional Liquidators of the Company at KPMG, PO Box 730, 20 Farringdon Street, London EC4A 4PP, United Kingdom. By the said Order, the Court has appointed Anthony James McMahon, or, failing him, Philip Wedgwood Wallace, to act as Chairman of the Meeting and had directed the Chairman to report the results of the Meeting to the Court. The Scheme will be subject to the subsequent sanction of the High Court of Justice. The general insurance business of Bimeh Iran Insurance Company (UK) Limited (“Bimeh”) written by Willis Faber (Underwriting Management) Limited and Lennox Underwriting Agencies Limited in relation to the underwriting years 1976 to 1981 was transferred to Sovereign Marine & General Insurance Company Limited on 22nd March 1984 in accordance with section 51 of the Insurance Companies Act 1982. Bimeh’s Creditors in respect of business written after it recommenced underwriting in November 1986 are not affected by the transfer or this proposed scheme of arrangement. Lovell White Durrant, 65 Holborn Viaduct, London EC1A 2DY. (Ref. A1/SAR/RGNS), Solicitors to Anthony James McMahon and Philip Wedgwood Wallace, Provisional Liquidators of the Company. 15th October 1999.