CODELL LIMITED

At an Extraordinary General Meeting of the above-named Company, convened and held at 37 Frederick Place, Brighton BN1 4EA, on 18 March 2003, 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 Geoffrey William Rhodes, of Begbies Traynor, 2-3 Pavilion Buildings, Brighton BN1 1EE, be appointed as Liquidator of the Company for the purposes of the voluntary winding-up.” Chairman