PEL (R&D) LIMITED

Notice is hereby given, pursuant to section 106 of the Insolvency Act 1986, that a Final Meeting of Members and Creditors of the above Company will be held at the offices of Begbies Traynor, Elliot House, 151 Deansgate, Manchester M3 3BP, on 5 May 2004, at 10.00 am and 10.30 am respectively, for the purposes of having an account laid before it, showing the manner in which the winding-up has been conducted and the property of the Company disposed of, and of hearing any explanation that may be given by the Liquidator. A Member or Creditor entitled to attend and vote at either of the above Meetings is entitled to appoint a proxy to attend and vote instead of him or her. A proxy need not be a Creditor of the Company. Proxies for use at either Meeting must be lodged at the address shown above no later than 12.00 noon on the business day before the Meeting. G Bell, Joint Liquidator