VALLEY PHOTOGRAPHIC COMPANY LIMITED

Meetings of Members and Creditors of the above-named Company have been summoned by the Liquidator under section 106 of the Insolvency Act 1986, for the purpose of having a final account laid before the Meetings to hear any explanations that may be given by the Liquidator and to grant the Liquidator’s release. The Meeting will be held at Moriston House, 75 Springfield Road, Chelmsford, Essex CM2 6JB, on 18 May 2004, at 10.30 am and 11.00 am respectively. A proxy form must be lodged with me not later than 17 May 2004 to entitle you to vote by proxy at the Meeting (together with a completed proof of debt form if you have not already lodged one). I M D G Cadlock, Liquidator 7 April 2004.