PERFECT YACHTS LIMITED

At an Extraordinary General Meeting of the above-named Company, convened, and held at Investec House, La Plaiderie, St Peter Port, Guernsey GY1 3RP, on 19 March 2003, at 2.00 pm, the following Special Resolution was passed: “That the Company be wound up voluntarily and that F A Simms and J M Munn of F A Simms & Partners Plc, Insol House, 39 Station Road, Lutterworth, Leicestershire LE17 4AP, be and are hereby appointed Joint Liquidators for the purposes of such winding-up.” K H Turberville, Chairman