INTERVALVE LIMITED

At an Extraordinary General Meeting of the above-named Company, duly convened, and held at Chichester, on 24th August 2000, at 10 a.m. the subjoined Resolutions were duly passed, as a Special Resolution, and as an Ordinary Resolution respectively: “That the Company be wound up voluntarily and that Michael Francis Stevenson, of Smith & Williamson, is hereby appointed Liquidator of the Company (“the Liquidator”) for the purposes of such winding-up, and that in accordance with the provisions of the Company’s articles of association, the Liquidator is hereby authorised to distribute among the Members in specie all or any part of the assets of the Company as he shall think fit, and that the Liquidator is hereby empowered pursuant to section 165 of the Insolvency Act 1986, to exercise any of the powers specified in Part 1, Schedule 4 of the Insolvency Act 1986, and that in accordance with Rule 4.14A of the Insolvency Rules 1986, the remuneration of the Liquidator and his staff in attending to matters arising in the winding-up of the Company and shall be drawn by him on a time cost basis as and when realisations allow, plus disbursements and VAT.” D. House, Chairman