EXCO ENVELOPES LIMITED

At an Extraordinary General Meeting of the above-named Company, duly convened, and held at Trinity House, Heather Park Drive, Wembley, Middlesex HA0 1SU, on 24 March 2003, at 3.00 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 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 that the Company be wound up voluntarily, and that Nimish C Patel of Kranefields, Trinity House, Heather Park Drive, Wembley, Middlesex HA0 1SU, be and he is hereby appointed Liquidator.” R Hayden, Chairman