Other Notices

2006-03-102006-04-07EC2V7EX-0.09466651.516472EC2V 7EXBanking Act 1987The City and County of the City of LondonTSO (The Stationery Office), St Crispins, Duke Street, Norwich, NR3 1PD, 01603 622211, customer.services@tso.co.uk57950131131
MOUNT CREDIT CORPORATION LIMITED

(in liquidation) (formerly known as Mount Banking Corporation Limited) ( Mount )

NOTICE OF PAYMENTS UNDER CLAUSE 9.7 OF THE SECURITY TRUST DEED (AS DEFINED BELOW)

To the Secured Depositors of Mount. On 10 March 2006 the Security Trustee served on Mount a notice under Clause 8.3 of the Security Trust Deed between Mount, The Law Debenture Trust Corporation p.l.c. (the Security Trustee) and Christopher Timothy Esmond Hayward, Philip Wedgwood Wallace and Anthony James McMahon (as administrators) (the Security Trust Deed), stating that a default has occurred under Clause 8.1.3 of the Security Trust Deed as a result of the termination of the authorisation of Mount under the Banking Act 1987 (the Default Notice), and that the security given by Mount in favour of the Security Trustee under the Security Trust Deed and various fixed charges (together the Security Documents) has become enforceable. After the security constituted by the Security Documents becomes enforceable, the Security Trustee is required to distribute, in accordance with Clause 9 of the Security Trust Deed, all trust property held by the Security Trustee under the Security Trust Deed, to all depositors who have deposits with Mount which are secured under the Security Documents (the Secured Depositors). In order to allow the Security Trustee to make such distributions to the Secured Depositors (including those Secured Depositors who have accounts held at Mount in relation to which Mount has instructions not to send information to such Secured Depositors), notice is hereby given by the Security Trustee to the Secured Depositors pursuant to and in accordance with Clauses 9.5 and 9.7 of the Security Trust Deed requesting such Secured Depositors to contact the Security Trustee within one month of the date of this notice to provide the Security Trustee with instructions as to where their entitlement as Secured Depositors is to be paid. The Security Trustee can be contacted at the address below: The Law Debenture Trust Corporation p.l.c., Fifth Floor, 100 Wood Street, London EC2V 7EX, facsimile: 020 7696 5261, e-mail: commercial.trusts@lawdeb.co.uk For the attention of the Manager, Commercial Trusts Please quote Ref Mount Banking. In the event that no such instructions are received from a Secured Depositor with a valid entitlement, within 6 years of the date of this notice, the Security Trustee, pursuant to and in accordance with Clause 9.8 of the Security Trust Deed shall, unless otherwise directed by a court of competent jurisdiction, pay to Mount the entitlement of that Secured Depositor and shall be fully discharged and protected in doing so. In such circumstance, the Security Trustee will be under no further liability to the relevant Secured Depositor, and the entitlement of that Secured Depositor to payment in respect of the Trust Property shall be deemed to have been irrevocably waived and extinguished. This notice is given by The Law Debenture Trust Corporation plc. as Security Trustee. 7 April 2006.