FAR EAST ABRASIVES LIMITED

An an Extraordinary General Meeting of the above-named Company, convened, and held at the offices of Fanshawe Lofts, 41 Castle Way, Southampton SO14 2BW, on 9 January 2003, at 2.00 pm the following Resolutions were passed as an Extraordinary Resolution and as an Ordinary Resolution respectively: “That it has been proved to the satisfaction of the Meeting that the Company cannot, by reason of its liabilities, continue its business and that the Company be wound up voluntarily, and that Stephen John Adshead and Antony Robert Fanshawe, of Fanshawe Lofts, 41 Castle Way, Southampton SO14 2BW, be appointed Liquidators of the Company for the purposes of the voluntary winding-up”. Chairman