HODGES ASSOCIATES LIMITED

At an Extraordinary General Meeting of the above-named Company, duly convened, and held at Begbies Traynor, 1 & 2 Raymond Buildings, Gray’s Inn, London WC1R 5NR, on 31 July 2002, at 10.30 am, the subjoined Extraordinary Resolution was passed: “That it has been proved to the satisfaction of this Meeting that the Company cannot, by reason of its liabilities, continue its business, and that it is advisable to wind up the same, and accordingly it is hereby Resolved that the Company be would up voluntarily and that Timothy John Edward Dolder and Paul Michael Davis, of Begbies Traynor, 1 & 2 Raymond Buildings, Gray’s Inn, London WC1R 5NR, be and they are hereby appointed Liquidators for the purposes of such winding-up and any act required or authorised under any enactment to be done may be done by any one or more persons holding the office of Liquidator from time to time.” At a subsequent Meeting of Creditors, duly convened, pursuant to section 98 of the Insolvency Act 1986, and held on the same day, the appointment of Timothy John Edward Dolder and Paul Michael Davis was confirmed. J E Hodges, Chairman