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Notice of AGM


Notice is hereby given that the eighty-first annual general meeting of the company will be held at 12.35 pm on 28 May 2010 at Partnership House, Carlisle Place, London, SW1P 1BX:

– To receive the directors’ report and accounts for the year 2009/10.
– To consider the re-election of directors.
– To consider the re-appointment of the auditors.
– To consider the remuneration of the auditors.
– To consider the following, which will be proposed as an Ordinary Resolution;

That pursuant to the Company’s Articles of Association;

(a) The Company be and is hereby authorised to purchase by way of market purchase on a recognised stock exchange;
(i) up to 3,696,995 in nominal amount of 5 per cent Cumulative Preference Stock (‘the 5 per cent Stock’) in the Company at a minimum price of 60p and a maximum price of £1 nominal of the 5 per cent Stock; and
(ii) up to £500,000 in nominal amount of 7G per cent Cumulative Preference Stock (‘the 7G per cent Stock’) in the Company at a minimum price of 80p and a maximum price of 125p per £1 nominal of the 7G per cent Stock; and
(b) this authority shall expire on the earlier of the close of the annual general meeting of the Company to be held in 2011 or 27 August 2011.

By Order of the Board

Margaret Casely-Hayford

Company Secretary

171 Victoria Street, London SW1E 5NN

19 April 2010

The report and accounts are sent to all members, but only the members holding Deferred Ordinary Shares are entitled to attend and vote at this meeting.

A member entitled to attend and vote at this meeting is entitled to appoint one or more proxies to attend and vote instead of him. A proxy need not be a member.