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• 106.25p offer price per Ordinary Share¹
• 30,935,718 Ordinary Shares in issue immediately following the Offers²
• 100.4p initial net asset value per Ordinary Share issued under the Offers
• 5.8p initial issue costs per Ordinary Share issued under the Offers
• 16.1% of enlarged Ordinary Share capital represented by Ordinary Shares issued under the Offers²
• 83.9% of enlarged Ordinary Share capital represented by existing Ordinary Shares²
• £5,017,950 maximum net proceeds of the Offers, after costs, at full subscription

¹This assumes Ordinary Shares are allotted at the unaudited net asset value per Ordinary Share as at 30 September 2007 of 102.7p, less the interim dividend of 2.0p paid on 16 November 2007, plus 5.5% (being the costs of the Offers), rounded up to the nearest qurter pence, and that there is no price adjustment.

²This assumes the Offers are fully subscribed, that no 'free' shares are allotted to existing Shareholders or in respect of substantial investments and there is no price adjustment.