----

| MEMORANDUM      OF ASSOCIATION | 1                                                          |
|--------------------------------|------------------------------------------------------------|
| ARTICLES      OF ASSOCIATION   | 8                                                          |
| 1.                             | Exclusion      of other Regulations                        | 8 |
| 2.                             | Definitions                                                | 8 |
| 3.                             | Authorised      Share Capital                              | 11 |
| 4.                             | Rights      Attached to Shares                             | 11 |
| 5.                             | Redeemable      Shares                                     | 11 |
| 6.                             | Deferred      Shares                                       | 11 |
| 7.                             | Purchase      of Own Shares                                | 12 |
| 8.                             | Variation      of Rights                                   | 13 |
| 9.                             | Pari      Passu Issues                                     | 13 |
| 10.                            | Unissued      Shares                                       | 13 |
| 11.                            | Payment      of Commission                                 | 14 |
| 12.                            | Trusts      Not Recognised                                 | 14 |
| 13.                            | Suspension      of Rights Where Non-Disclosure of Interest | 14 |
| 14.                            | Uncertificated      Shares                                 | 15 |
| 15.                            | Right      to Share Certificates                           | 17 |
| 16.                            | Replacement      of Share Certificates                     | 17 |
| 17.                            | Execution      of Share Certificates                       | 18 |
| 18.                            | Share      Certificates Sent at Holder’s Risk        | 18 |
| 19.                            | Company’s      Lien on Shares Not Fully Paid         | 18 |
| 20.                            | Enforcing      Lien by Sale                                | 18 |
| 21.                            | Application      of Proceeds of Sale                       | 19 |

----

| 22. | Calls                                                       | 19 |
|-----|-------------------------------------------------------------|----|
| 23. | Timing      of Calls                                        | 19 |
| 24. | Liability      of Joint Holders                             | 20 |
| 25. | Interest      Due on Non-Payment                            | 20 |
| 26. | Sums      Due on Allotment Treated as Calls                 | 20 |
| 27. | Power      to Differentiate                                 | 20 |
| 28. | Payment      of Calls in Advance                            | 20 |
| 29. | Notice      if Call or Instalment Not Paid                  | 20 |
| 30. | Form      of Notice                                         | 20 |
| 31. | Forfeiture      for Non-Compliance with Notice              | 21 |
| 32. | Notice      after Forfeiture                                | 21 |
| 33. | Sale      of Forfeited Shares                               | 21 |
| 34. | Arrears      to be Paid Notwithstanding Forfeiture          | 21 |
| 35. | Statutory      Declaration as to Forfeiture                 | 22 |
| 36. | Transfer                                                    | 22 |
| 37. | Signing      of Transfer                                    | 23 |
| 38. | Rights      to Decline Registration of Partly Paid Shares   | 23 |
| 39. | Other      Rights to Decline Registration                   | 23 |
| 40. | No      Fee for Registration                                | 24 |
| 41. | Untraced      Shareholders                                  | 24 |
| 42. | Transmission      on Death                                  | 25 |
| 43. | Entry      of Transmission in Register                      | 25 |
| 44. | Election      of Person Entitled by Transmission            | 25 |
| 45. | Rights      of Person Entitled by Transmission              | 26 |
| 46. | Increase,      Consolidation, Sub-Division and Cancellation | 26 |

----

| 47. | Fractions                                            | 26 |
|-----|------------------------------------------------------|----|
| 48. | Reduction      of Capital                            | 27 |
| 49. | Omission      or Non-Receipt of Notice               | 27 |
| 50. | Postponement      of General Meetings                | 27 |
| 51. | Quorum                                               | 27 |
| 52. | Procedure      if Quorum Not Present                 | 28 |
| 53. | Security      Arrangements                           | 28 |
| 54. | Chairman      of General Meeting                     | 28 |
| 55. | Orderly      Conduct                                 | 29 |
| 56. | Entitlement      to Attend and Speak                 | 29 |
| 57. | Adjournments                                         | 29 |
| 58. | Notice      of Adjournment                           | 29 |
| 59. | Amendments      to Resolutions                       | 30 |
| 60. | Amendments      Ruled Out of Order                   | 30 |
| 61. | Votes      of Members                                | 30 |
| 62. | Method      of Voting                                | 30 |
| 63. | Procedure      if Poll Demanded                      | 31 |
| 64. | When      Poll to be Taken                           | 31 |
| 65. | Continuance      of Other Business after Poll Demand | 31 |
| 66. | Votes      of Joint Holders                          | 31 |
| 67. | Voting      on behalf of Incapable Member            | 31 |
| 68. | No      Right to Vote where Sums Overdue on Shares   | 32 |
| 69. | Objections      or Errors in Voting                  | 32 |
| 70. | Appointment      of Proxies                          | 32 |
| 71. | Receipt      of Proxies                              | 32 |

----

| 72. | Maximum      Validity of Proxy                     | 34 |
|-----|----------------------------------------------------|----|
| 73. | Form      of Proxy                                 | 34 |
| 74. | Cancellation      of Proxy’s Authority       | 34 |
| 75. | Separate      General Meetings                     | 34 |
| 76. | Number      of Directors                           | 35 |
| 77. | Directors’      Shareholding Qualification   | 35 |
| 78. | Power      of Company to Appoint Directors         | 35 |
| 79. | Power      of Directors to Appoint Directors       | 35 |
| 80. | Retirement      of Directors by Rotation           | 35 |
| 81. | Filling      Vacancies                             | 35 |
| 82. | Power      of Removal by Special Resolution        | 35 |
| 83. | Persons      Eligible as Directors                 | 36 |
| 84. | Position      of Retiring Directors                | 36 |
| 85. | Vacation      of Office by Directors               | 36 |
| 86. | Alternate      Directors                           | 37 |
| 87. | Executive      Directors                           | 38 |
| 88. | Directors’      Fees                         | 38 |
| 89. | Additional      Remuneration                       | 38 |
| 90. | Expenses                                           | 38 |
| 91. | Pensions      and Gratuities for Directors         | 39 |
| 92. | Directors’      Interests                    | 39 |
| 93. | General      Powers of Company Vested in Directors | 43 |
| 94. | Borrowing      Powers                              | 44 |
| 95. | Agents                                             | 48 |
| 96. | Delegation      to Individual Directors            | 49 |

----

| 97.  | Official      Seals                                       | 49 |
|------|-----------------------------------------------------------|----|
| 98.  | Registers                                                 | 50 |
| 99.  | Provision      for Employees                              | 50 |
| 100. | Directors’      Meetings                            | 50 |
| 101. | Notice      of Directors’ Meetings                  | 50 |
| 102. | Quorum                                                    | 50 |
| 103. | Directors      below Minimum through Vacancies            | 50 |
| 104. | Appointment      of Chairman                              | 51 |
| 105. | Competence      of Meetings                               | 51 |
| 106. | Voting                                                    | 51 |
| 107. | Delegation      to Committees                             | 51 |
| 108. | Participation      in Meetings                            | 52 |
| 109. | Resolution      in Writing                                | 52 |
| 110. | Validity      of Acts of Directors or Committee           | 52 |
| 111. | Appointment      and Removal of the Secretary             | 52 |
| 112. | Use      of Seals                                         | 52 |
| 113. | Declaration      of Dividends by Company                  | 53 |
| 114. | Payment      of Interim and Fixed Dividends by Directors  | 53 |
| 115. | Calculation      and Currency of Dividends                | 53 |
| 116. | Amounts      Due on Shares can be Deducted from Dividends | 53 |
| 117. | No      Interest on Dividends                             | 54 |
| 118. | Payment      Procedure                                    | 54 |
| 119. | Uncashed      Dividends                                   | 54 |
| 120. | Forfeiture      of Unclaimed Dividends                    | 55 |
| 121. | Dividends      Not in Cash                                | 55 |

----

| 122.     | Scrip      Dividends                                        | 55 |
|----------|-------------------------------------------------------------|----|
| 123.     | Power      to Capitalise Reserves and Funds                 | 57 |
| 124.     | Settlement      of Difficulties in Distribution             | 58 |
| 125.     | Power      to Choose Any Record Date                        | 58 |
| 126.     | Inspection      of Records                                  | 59 |
| 127.     | Summary      Financial Statements                           | 59 |
| 128.     | Method      of Service                                      | 59 |
| 129.     | Record      Date for Service                                | 60 |
| 130.     | Members      Resident Abroad or on Branch Registers         | 60 |
| 131.     | Service      of Notices on Persons Entitled by Transmission | 60 |
| 132.     | Deemed      Delivery                                        | 61 |
| 133.     | Notice      When Post Not Available                         | 62 |
| 134.     | Presumptions      Where Documents Destroyed                 | 62 |
| 135.     | Indemnity      of Directors                                 | 63 |
| GLOSSARY |                                                        | 64 |

----

1

| 1.*  | The      name of the Company is "TomkinsPLC". |
|-----------|-----------------------------------------------|

| 2.  | The      Company is to be a Public Company. |
|----------|---------------------------------------------|

| 3.  | The      Registered Office of the Company will be situate in    England. |
|----------|--------------------------------------------------------------------------|

| 4.  | The      objects for which the Company is established  are:- |
|----------|--------------------------------------------------------------|

|   | (a) | To      co-ordinate and manage, through the holding of shares, securities and      interests in subsidiary or other companies, or any other bodies, firms,      undertakings, enterprises or associations, the business activities and      affairs thereof respectively; to incorporate or in any way acquire the      whole or any part of the share or loan capital of or any other interest in      any other company, body, firm, undertaking, enterprise or association the      acquisition of an interest wherein may appear to be beneficial to the      interests of the Company; to finance and aid all or any such companies or      others as aforesaid by loans, guarantees, subvention payments or      otherwise; to invest the moneys of the Company in or otherwise to acquire      and hold for investment shares, stocks, debentures, debenture stock,      securities and investments of all kinds issued or guaranteed by any      company, corporation, governmental or other authority, trust, firm, body,      or person, constituted or carrying on business in any part of the world      and to acquire and hold for investment real and personal property of any      description or kind; and generally to carry out the function of a Group      Holding Company but so that nothing herein contained shall permit the      Company to traffic in investments or property or to deal in or dispose of      the same save in connection with and for the purpose of carrying on the      primary business of the Company of holding and managing investments and      property and managing and co-ordinating the affairs of the various      companies and other bodies in which the Company is    interested. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

  
| 1   | The      name of the Company was changed to Tomkins PLC from F.H. Tomkins p.l.c. on      25 February 1988 |
|---------------|-----------------------------------------------------------------------------------------------------------|

----

|   | (b) | To      carry on, either in conjunction with the above objects or separately      therefrom, the business of Hardware Manufacturers and Manufacturers of,      and Dealers in all kinds of Minerals, Metals, Scrap Metals, Manufacturers      of Chains, Locks, Rings, Hooks, Wire Goods and all kinds of goods in      connection thereof. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | To      carry on any other business of a similar nature which may, in the opinion      of the Directors, be conveniently carried on by the Company, or calculated      directly or indirectly to enhance the value of or render more profitable      any of the Company's property. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | To      purchase, or otherwise acquire, all or any part of the business property      liabilities of any person, Company, or firm carrying on any business of a      similar nature and conduct and carry on any such  business. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | To      purchase, take on lease, or in exchange, hire or otherwise acquire any      real or personal property, rights or privileges which the Company may      consider suitable or convenient for any purpose of its business, and to      erect, construct, build, lay down, enlarge, alter, re-construct and      maintain shops, offices, dwellinghouses and other buildings, works and      machinery necessary or convenient for the Company's business, or directly      or indirectly conducive to any of itsobjects. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | To      lend money or give credit, and to hire goods, to such persons and on such      terms as may seem expedient and with or without security, and in      particular to customers and others having dealings with the Company and to      guarantee the performance of contracts by any such  persons. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | To      guarantee either by personal obligation or by mortgaging or charging all      or any part of the undertaking, property and assets and uncalled capital      of the Company both present and future, or by both such methods, the      performance of any contract or obligation of any person, firm or company      whatsoever. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | To      sell, manage, lease, mortgage, dispose of or otherwise deal with all or      any part of the property of theCompany. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | To      grant, or procure the granting of, pensions, annuities, gratuities and      superannuation or other allowances or lump sums, to directors and      ex-directors, officers and ex-officers, employees and ex-employees of the      Company, and to the spouses, widows, widowers, children, dependants or      connections of such persons; to establish and maintain, or procure the      establishment and maintenance of, trusts, funds, or schemes (contributory      or non-contributory) with a view to providing pensions or other benefits      for any such persons, their spouses, widows, widowers, children,      dependants or connections; and to make payments to or towards the      insurance of any such persons, their spouses, widows, widowers, children,      dependants or connections; and to set up, establish, support and maintain      profit sharing or share purchase schemes for the benefit of any of the      employees of the Company or of its subsidiaries and to lend money to any      such employees or to trustees on their behalf to enable any such share      purchase schemes to be established or maintained; and to contribute by      donation, subscription, guarantee or otherwise to any charitable, public,      general, political or useful object whatsoever, and to support and      subscribe to any institution, society, or club which may be for the      benefit of the Company and its subsidiaries or their employees, or may be      connected with any town or place where the Company carries on business;      and to purchase and maintain for any persons who are Directors, officers,      employees, or agents of the Company from time to time insurance against      any liability. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (j) | To      sell or dispose of the undertaking of the Company or any part thereof for      such consideration as the Company may think fit, and in particular for      shares, debentures or securities of any other company having objects      altogether or in any part similar to those of this  Company. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (k) | To      draw, make, accept, endorse, discount, negotiate, execute and issue      promissory notes, bills of exchange, bills of lading, warrants, debentures      and other negotiable and transferable  instruments. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (l) | To      borrow and raise money for the purposes of the Company, in such manner and      on such terms as may be considered expedient, and in particular by the      issue of debentures and to secure the repayment of any money borrowed,      raised or owing, by mortgage, charge, lien or other security upon the      whole or any part of the Company's property or assets (whether present or      future), including its uncalled capital, and also by a similar mortgage,      charge, lien or security to secure and guarantee the performance by the      Company of any obligation or liability it may undertake or which may      become binding on it either with or without the Company receiving any      consideration or advantage (direct or indirect) from giving any such      security or guarantee. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (m) | To      pay all costs, charges and expenses incurred in or about the promotion and      establishment of the Company. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

|   | (n) | To      do all such things as may be incidental or conducive to the attainment of      any of the above objects. |
|--------|-----|------------------------------------------------------------------------------------------------------------------|

|   | The      objects set forth in each sub-clause of this Clause shall not be      restrictively construed but the widest interpretation shall be given      thereto, and they shall not, except where the context expressly so      requires, be in any way limited or restricted by reference to or inference      from any other object or objects set forth in such sub-clause or from the      terms of any other sub-clause or by the name of the      Company.  None of such sub-clauses or the object or objects      therein specified or the powers thereby conferred shall be deemed      subsidiary or ancillary to the objects or powers mentioned in any other      sub-clause, but the Company shall have as full a power to exercise all or      any of the objects conferred by and provided in each of the said      sub-clauses as if each sub-clause contained the objects of a separate      company. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 5.  | The      liability of the Members islimited. |
|----------|----------------------------------------------|

| 6. | The      Share Capital of the Company is £1,000* divided into 1,000 Ordinary Shares      of £1 each with powers to divide the Shares in the Capital for the time      being into several classes, and attach thereto respectively any      preferential, deferred, and qualified, or special rights, privileges or      conditions. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (a) | Each      of the 10,000 Ordinary Shares was sub-divided into 20 ordinary shares of      1/- each. |
|--------|-----|---------------------------------------------------------------------------------------------------|

|   | (b) | The      nominal capital was increased to £75,000 by the creation of 1,300,000      additional Ordinary Shares of 1/-each. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

----

----

----

----

| NAMES,      ADDRESSES AND DESCRIPTIONS | NUMBER      OF SHARES TAKEN |
|----------------------------------------|-----------------------------|
|                                   |                        |
| OF      SUBSCRIBERS                    | BY      EACH SUBSCRIBER     |

----

| FREDERICK      HARRY TOMKINS, | One    |
|-------------------------------|--------|
| 57      Mount Street,         |   |
| Walsall,                      |   |
| Manufacturer.                 |   |
|                          |   |
| MARY      ANN TOMKINS,        | One    |
| 57      Mount Street,         |   |
| Walsall,                      |   |
| Married      Woman.           |   |

----

----

| 1. | Exclusion      of other Regulations |
|----|-------------------------------------|

| 2. | Definitions |
|----|-------------|

| (A) | The      following table gives the meaning of certain words and expressions as they      are used in these articles.  However, the meaning given in the      table does not apply if it is not consistent with the context in which a      word or expression appears.  At the end of these articles there      is a Glossary which explains various words and expressions which appear in      the text.  The Glossary also explains some of the words and      expressions used in the memorandum.  The Glossary is not part of      the memorandum or articles and does not affect their    meaning. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| “address”                        | includes      a number or address used for sending or receiving documents or information      by electronic means;                                                                                        |
|----------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                         |                                                                                                                                                                                                      |
| “amount”      (of a share)       | this      refers to the nominal amount of the share;                                                                                                                                                      |
|                                         |                                                                                                                                                                                                      |
| “these      articles”            | means      these articles of association, including any changes made to them, and the      expression “this article” refers to a particular article in these articles      of association;    |
|                                         |                                                                                                                                                                                                      |
| “auditors”                       | means      the auditor of the company and, where two or more people are appointed to      act jointly, any one of them;                                                                                   |
|                                         |                                                                                                                                                                                                      |
| “Bank      of England base rate” | means      the base lending rate most recently set by the Monetary Policy Committee      of the Bank of England in connection with its responsibilities under Part      2 of the Bank of England Act1998; |

----

| audited      balance sheet              | means      the audited balance sheet of the company prepared for a financial year for      the purposes of the legislation unless an audited consolidated balance      sheet relating to the company and its subsidiary undertakings has been      prepared for the same financial year, in which case it means that audited      consolidated balance sheet, and in that case all references to reserves      will be taken to be references to consolidatedreserves; |
|-----------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| “certificated      share”   | means      a share which is not a CREST share and is normally held in certificated      form;                                                                                                                                                                                                                                                                                                                                                                          |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| “chairman”                  | means      the chairman of the board of directors;                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| “clear      days”           | in      relation to the period of a notice means that period excluding the day      when the notice is served or deemed to be served and the day for which it      is given or on which it is to take effect;                                                                                                                                                                                                                                                          |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| “CREST”                     | means      the electronic settlement system for securities traded on a recognised      investment exchange and owned by Euroclear UK & Ireland Limited, or      any similar system;                                                                                                                                                                                                                                                                                |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| “CREST      share”          | means      a share which is noted on the shareholders’ register as being held through      CREST in uncertificated form;                                                                                                                                                                                                                                                                                                                                         |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| “deferred      shares”      | means      the deferred shares of £1 each in the capital of the    company;                                                                                                                                                                                                                                                                                                                                                                                       |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| “directors”                 | means      the executive and non-executive directors of the company who make up its      board of directors (and “director” means any one of them) or the directors      present at a meeting of the directors at which a quorum is      present;                                                                                                                                                                                                          |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| “holder”                    | in      relation to any shares means the person whose name is entered in the      register as the holder of those shares;                                                                                                                                                                                                                                                                                                                                              |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| “legislation”               | means      every statute (and any orders, regulations or other subordinate      legislation made under it) applying to the company;                                                                                                                                                                                                                                                                                                                                    |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| “the      office”           | means      the company’s registered office;                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| “ordinary      shareholder” | means      a holder of ordinaryshares;                                                                                                                                                                                                                                                                                                                                                                                                                                 |

----

| “ordinary      shares”                                          | means      the company’s ordinary shares;                                                                                                                                                                                                                                   |
|-----------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                        |                                                                                                                                                                                                                                                                              |
| “paid      up”                                                  | means      paid up or treated (credited) as paid up;                                                                                                                                                                                                                              |
|                                                                        |                                                                                                                                                                                                                                                                              |
| “pay”                                                           | includes      any kind of reward or payment for services;                                                                                                                                                                                                                         |
|                                                                        |                                                                                                                                                                                                                                                                              |
| “register”                                                      | means      the company’s register of shareholders and, at any time when the company      has shares in issue which are CREST shares, means the Operator register of      members (maintained by CREST) and the issuer register of members      (maintained by the company); |
|                                                                        |                                                                                                                                                                                                                                                                              |
| “seal”                                                          | means      any common or official seal that the company may be permitted to have      under the legislation;                                                                                                                                                                      |
|                                                                        |                                                                                                                                                                                                                                                                              |
| “secretary”                                                     | means      the secretary, or (if there are joint secretaries) any one of the joint      secretaries, of the company and includes an assistant or deputy secretary      and any person appointed by the directors to perform any of the duties of      the secretary;              |
|                                                                        |                                                                                                                                                                                                                                                                              |
| “shareholder”                                                   | means      a holder of the company’s shares;                                                                                                                                                                                                                                |
|                                                                        |                                                                                                                                                                                                                                                                              |
| “sterling”      or “£” and “pence” | means      the lawful currency for the time being of the United    Kingdom;                                                                                                                                                                                                       |
|                                                                        |                                                                                                                                                                                                                                                                              |
| “uncertificated      securities rules”                          | means      any provision in the legislation which relates to CREST shares or to the      transfer of CREST shares or how the ownership of CREST shares is      evidenced;                                                                                                         |
|                                                                        |                                                                                                                                                                                                                                                                              |
| “United      Kingdom”                                           | means      Great Britain and Northern Ireland; and                                                                                                                                                                                                                                |
|                                                                        |                                                                                                                                                                                                                                                                              |
| “US      dollar” or “US$” and “cent”    | means      the lawful currency for the time being of the United States of      America.                                                                                                                                                                                           |

| (B) | References      in these articles to a document being “signed” or to “signature” include      references to its being executed under hand or under seal or by any other      method and, in the case of a communication in electronic form, such      references are to its being authenticated as specified by the      legislation. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | References      in these articles to “writing” and to any form of “written” communication      include references to any method of representing or reproducing words in a      legible and non-transitory form whether sent or supplied in electronic      form or otherwise. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (D) | Any      words or expressions defined in the legislation in force when these      articles or any part of these articles are adopted will (if not      inconsistent with the subject or context in which they appear) have the      same meaning in these articles or that part save the word “company”      includes any body corporate. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | References      to a meeting will not be taken as requiring more than one person to be      present if any quorum requirement can be satisfied by one      person. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (F) | Headings      in these articles are only included for convenience.  They do      not affect the meaning of thesearticles. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------|

| (G) | Where      these articles refer to a person who is entitled to a share by law, this      means a person who has been noted in the register as being entitled to a      share as a result of the death or bankruptcy of a shareholder or some      other event which gives rise to the transmission of the share by operation      of law. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Authorised      Share Capital  The company’s authorised share capital is US$      142,664,779.80 divided into 1,585,164,220 ordinary shares of US$ 0.09 each      and £50,000 divided into 50,000 deferred shares of £1  each. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | Rights      Attached to Shares The company can issue shares with any rights or      restrictions attached to them as long as this is not restricted by any      rights attached to existing shares.  These rights or      restrictions can be decided either by an ordinary resolution passed by the      shareholders or by the directors as long as there is no conflict with any      resolution passed by theshareholders. |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | Redeemable      Shares Subject to any rights attached to existing shares,      the company can issue shares which can be redeemed.  This can      include shares which can be redeemed if the holders want to do so, as well      as shares which the company can insist on  redeeming. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | Deferred      Shares |
|----|----------------------|

| (A) | The      holder of a deferred share shall not be entitled to participate in the      profits of the company. |
|-----|--------------------------------------------------------------------------------------------------------------|

| (B) | The      holder of a deferred share shall not have any right to participate in any      distribution of the company’s assets on a winding up or other distribution      except that after the return of the nominal amount paid up on each share      in the capital of the company of any class other than the deferred shares      and the distribution of a further US$10,000 in respect of each such share      there shall be distributed to a holder of a deferred share (for each      deferred share held by him) an amount equal to the nominal value of the      deferred share. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (C) | A      holder of a deferred share shall not be entitled in respect of such      holding to receive notice of any general meeting nor to attend, speak or      vote at any general meeting. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | The      company may from time to time create, allot and issue further shares,      whether ranking pari passu with, in priority to or deferred to, or having      more favourable rights in terms of income, capital, voting or otherwise,      than the deferred shares, and such creation, allotment or issue shall be      deemed not to involve a variation of the rights attaching to the deferred      shares for any purpose. A reduction in or repayment of the share capital      (whether or not issued or fully or partly paid up) of the company or the      other capital reserves of the company shall not involve a variation of the      rights attaching to the deferred shares, and the company shall be entitled      at any time to reduce or repay the whole or any part of its share capital      (whether or not issued or fully or partly paid up) or its other capital      reserves (subject in each case to the confirmation of the Court to the      extent required by and in accordance with the legislation) without      obtaining the consent of the holders of the deferred    shares. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | The      deferred shares shall not, save as is referred to in sub-paragraph (F)      below, be transferable. |
|-----|--------------------------------------------------------------------------------------------------------------|

| (F) | The      company has irrevocable authority in respect of the deferred shares at any      time to do all or any of the following without obtaining the sanction of      the holder or holders of the deferredshares: |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | to      appoint any person to execute on behalf of any holder of deferred shares a      transfer of all or any thereof and/or an agreement to transfer the same      (without making any payment therefor) to such person as the directors may      determine (whether or not an officer of the company) and who is willing to      accept the same; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | to      acquire all or any of the same in accordance with the legislation without      obtaining the consent of the holders thereof and for no      consideration; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | for      the purposes of any such acquisition, to appoint any person to execute on      behalf of any holder of deferred shares a transfer to the company of any      such deferred shares held by him orher; |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | to      cancel all or any of the same so acquired in accordance with the      legislation; and |
|--------|------|------------------------------------------------------------------------------------------------|

|   | (v) | pending      any such transfer, acquisition or cancellation, to retain the certificates      for all or any of the deferredshares. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------|

| 7. | Purchase      of Own Shares  Subject to any rights attached to existing shares,      the company can purchase or contract to purchase any of its shares      (including redeemable shares), if the legislation allows      this.  The directors are not required to select the shares to      purchase in any particularmanner. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 8. | Variation      of Rights |
|----|--------------------------|

|   | (i) | a      quorum will be present if at least two shareholders who are entitled to      vote are present in person or by proxy who own at least one third in      amount of the issued shares of the class (excluding any shares of that      class held as treasury shares); |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | any      shareholder who is present in person or by proxy and entitled to vote can      demand a poll; |
|--------|------|--------------------------------------------------------------------------------------------------------|

|   | (iii) | on      a poll every shareholder who is present in person or by proxy and entitled      to vote is entitled to one vote for every share he has of the class (but      this is subject to any special rights or restrictions which are attached      to any class of shares); and |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | at      an adjourned meeting, one person entitled to vote and who holds shares of      the class, or his proxy, will be aquorum. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------|

| 9. | Pari      Passu Issues |
|----|------------------------|

| 10. | Unissued      Shares |
|-----|----------------------|

|   | (i) | the      provisions of the legislation relating to authority, pre-emption rights      and other matters; |
|--------|-----|----------------------------------------------------------------------------------------------------------|

|   | (ii) | the      provisions of these articles; |
|--------|------|----------------------------------------|

|   | (iii) | any      resolution passed by the shareholders;and |
|--------|-------|----------------------------------------------------|

----

|   | (iv) | any      rights attached to existing shares. |
|--------|------|----------------------------------------------|

| 11. | Payment      of Commission In connection with any share issue or any sale of      treasury shares for cash, the company can use all the powers given by the      legislation to pay commission or brokerage.  The company can pay      the commission in cash or by allotting fully or partly-paid shares or      other securities or by a combination ofboth. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12. | Trusts      Not Recognised The company will only be affected by, or      recognise, a current and absolute right to whole shares.  The      fact that any share, or any part of a share, may not be owned outright by      the registered owner (for example, where a share is held by one person as      a nominee or otherwise as a trustee for another person) is not of any      concern to the company.  This applies even if the company knows      about the ownership of the share.  The only exceptions to this      are where the rights of the kind described are expressly given by these      articles or are of a kind which the company has a legal duty to      recognise. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13 | Suspension      of Rights Where Non-Disclosure ofInterest |
|----|-----------------------------------------------------------|

| (A) | The      company can under the legislation send out notices to those it knows or      has reasonable cause to believe have an interest in its      shares.  In the notice, the company will ask for details of      those who have an interest and the extent of their interest in a      particular holding of shares.  In these articles this notice is      referred to as a “statutory notice” and the holding of shares is referred      to as the “identifiedshares”. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | When      a person receives a statutory notice, he has 14 days to comply with      it.  If he does not do so or if he makes a statement in response      to the notice which is false or inadequate in some important way, the      company can decide to restrict the rights relating to the identified      shares and send out a further notice to the holder, known as a restriction      notice.  The restriction notice will take effect when it is      delivered.  The restriction notice will state that the      identified shares no longer give the shareholder any right to attend or      vote either personally or by proxy at a shareholders’ meeting or to      exercise any other right in relation to shareholders’      meetings. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | Where      the identified shares make up 0.25 per cent. or more (in amount or in      number) of the existing shares of a class (calculated exclusive of any      shares of that class held as treasury shares) at the date of delivery of      the restriction notice, the restriction notice can also contain the      following furtherrestrictions:- |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      directors can withhold any dividend or part of a dividend (including scrip      dividend) or other money which would otherwise be payable in respect of      the identified shares without any liability to pay interest when such      money is finally paid to the shareholder;and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | the      directors can refuse to register a transfer of any of the identified      shares which are certificated shares unless the directors are satisfied      that they have been sold outright to an independent third      party.  The independent third party must not be connected with      the shareholder or with any person appearing to be interested in the      shares.  Any sale through a recognised investment exchange or      any other stock exchange outside the United Kingdom or by way of      acceptance of a takeover offer will be treated as an outright sale to an      independent third party.  For this purpose, any associate (as      that term is defined in section 435 of the Insolvency Act 1986) is      included in the class of persons who are connected with the shareholder or      any person appearing to be interested in the shares.  In order      to enforce the restriction in this sub-paragraph, the directors can give      notice to the relevant shareholder requiring him to change identified      shares which are CREST shares to certificated shares by the time given in      the notice and to keep them in certificated form for as long as the      directors require.  The notice can also say that the relevant      shareholder may not change any identified shares which are certificated      shares to CREST shares.  If the shareholder does not comply with      the notice, the directors can authorise any person to instruct the      Operator to change any identified shares which are CREST shares to      certificated shares in the name and on behalf of the relevant      shareholder. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | Once      a restriction notice has been given, the directors are free to cancel it      or exclude any shares from it at any time they think fit.  In      addition, they must cancel the restriction notice within seven days of      being satisfied that all information requested in the statutory notice has      been given.  Also, where any of the identified shares are sold      and the directors are satisfied that they were sold outright to an      independent third party, they must cancel the restriction notice within      seven days of receipt of notification of the sale.  If a      restriction notice is cancelled or ceases to have effect in relation to      any shares, any moneys relating to those shares which were withheld will      be paid to the person who would have been entitled to them or as he      directs. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | The      restriction notice will apply to any further shares issued in right of the      identified shares.  The directors can also make the restrictions      in the restriction notice apply to any right to an allotment of further      shares associated with the identifiedshares. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (F) | If      a shareholder receives a restriction notice, he can ask the company for a      written explanation of why the notice was given, or why it has not been      cancelled.  The company must respond within 14 days of receiving      the request. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (G) | If      the company gives a statutory notice to a person it has reasonable cause      to believe has an interest in any of its shares, it will also give a copy      at the same time to the person who holds the shares.  If the      company does not do so or the holder does not receive the copy, this will      not invalidate the statutorynotice. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (H) | This      article does not restrict in any way the provisions of the legislation      which apply to failures to comply with notices under the      legislation. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14. | Uncertificated      Shares |
|-----|----------------------------|

| (A) | Under      the uncertificated securities rules, the directors can allow the ownership      of shares to be evidenced without share certificates and for these shares      to be transferred through CREST.  The directors can select and      make arrangements for any class of shares to participate in CREST in this      way, provided that the shares of the class are identical in all      respects. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | As      long as the directors comply with the uncertificated securities rules,      they can also withdraw a class of shares from being transferred through      CREST and from allowing ownership of them to be evidenced without share      certificates. CREST      shares do not form a class of shares separate from certificated shares      with the samerights. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | If      the company has any shares in issue which are CREST shares, these articles      apply to those shares, but only as far as they are consistent      with:- |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | holding      shares in an uncertificated form; |
|--------|-----|------------------------------------------------|

|   | (ii) | transferring      shares through CREST; or |
|--------|------|--------------------------------------------|

|   | (iii) | any      provision of the uncertificated securities  rules, |
|--------|-------|-------------------------------------------------------------|

| (C) | CREST      shares can be changed to become certificated shares and certificated      shares can be changed to become CREST shares, provided the requirements of      the uncertificated securities rules aremet. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | If      under these articles or the legislation the company can sell, transfer or      otherwise dispose of, forfeit, re-allot, accept the surrender of or      otherwise enforce a lien over a CREST share, then, subject to these      articles and the legislation, the directorsmay: |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | require      the holder of that CREST share by written notice to change that CREST      share to a certificated share within a period specified in the notice and      to keep it as a certificated share for as long as the directors      require; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | appoint      any person to take any other steps, by instruction given through CREST or      otherwise, in the name of the holder of that share as may be necessary to      effect the transfer of that share and these steps will be as effective as      if they had been taken by the registered holder of that share;      and |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | take      any other action that the directors consider appropriate to achieve the      sale, transfer, disposal, forfeiture, re-allotment or surrender of that      share or otherwise to enforce a lien in respect of that    share. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | Unless      the directors decide otherwise, CREST shares held by a shareholder will be      treated as separate holdings from any certificated shares which that      shareholder holds. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (F) | Unless      the uncertificated securities rules otherwise require or the directors      otherwise determine, shares which are issued or created from or in respect      of CREST shares will be CREST shares and shares which are issued or      created from or in respect of certificated shares will be certificated      shares. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (G) | The      company can assume that entries on any record of securities kept by it as      required by the uncertificated securities rules and regularly reconciled      with the relevant Operator register of securities are a complete and      accurate reproduction of the particulars entered in the Operator register      of securities and therefore will not be liable in respect of anything done      or not done by or on its behalf in reliance on such assumption; in      particular, any provision of these articles which requires or envisages      action to be taken in reliance on information contained in the register      allows that action to be taken in reliance on information contained in any      relevant record of securities (as so maintained and      reconciled). |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 15. | Right      to Share Certificates |
|-----|----------------------------------|

| (A) | When      a shareholder is first registered as the holder of any class of      certificated shares, he is entitled, free of charge, to one certificate      for all of the certificated shares of that class which he      holds.  If a shareholder holds certificated shares of more than      one class, he is entitled to a separate share certificate for each      class.  This does not apply if the legislation allows the      company not to issue sharecertificates. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | If      a shareholder receives more certificated shares of any class, he is      entitled, without charge, to a certificate for the extra      shares. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | If      a shareholder transfers some of the shares represented by a share      certificate, he is entitled, free of charge, to a new certificate for the      balance to the extent the balance is to be held in certificated      form. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | Where      a certificated share is held jointly, the company does not have to issue      more than one certificate for that share.  When the company      delivers a share certificate to one joint shareholder, this is treated as      delivery to all of the jointshareholders. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | The      time limit for the company to provide a share certificate under this      article is as prescribed by the legislation or, if this is earlier, within      any prescribed time limit or within a time specified when the shares were      issued. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16. | Replacement      of Share Certificates |
|-----|----------------------------------------|

| (A) | If      a shareholder has two or more share certificates for shares of the same      class, he can ask the company for these to be cancelled and replaced by a      single new certificate.  The company must comply with this      request. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | A      shareholder can ask the company to cancel and replace a single share      certificate with two or more certificates for the same total number of      shares.  The company may comply with this    request. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | A      shareholder can ask the company for a new certificate if the original      is:- |
|-----|----------------------------------------------------------------------------------------|

|   | (i) | damaged      or defaced; or |
|--------|-----|-----------------------------|

|   | (ii) | said      to be lost, stolen or destroyed. |
|--------|------|--------------------------------------------|

----

| (D) | If      a certificate has been damaged or defaced, the company can require the      certificate to be returned to it before issuing a      replacement.  If a certificate is said to be lost, stolen or      destroyed, the company can require satisfactory evidence of this and      insist on receiving an indemnity before issuing a    replacement. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | The      directors can require the shareholder to pay the company’s exceptional      out-of-pocket expenses incurred in connection with the issue of any      certificates under this article. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (F) | Any      one joint shareholder can request replacement certificates under this      article. |
|-----|----------------------------------------------------------------------------------------------|

| 17. | Execution      of Share Certificates |
|-----|--------------------------------------|

|   | Share      certificates must be sealed or made effective in such other way as the      directors decide, having regard to the terms of issue and any listing      requirements.  The directors can resolve that signatures on any      share certificates can be applied to the certificates by mechanical or      other means or can be printed on them or that signatures are not      required.  A share certificate must state the number and class      of shares to which it relates and the amount paid up on those      shares. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18. | Share      Certificates Sent at Holder’s Risk |
|-----|-----------------------------------------------------|

|   | Every      share certificate will be sent at the risk of the member or other person      entitled to the certificate.  The company will not be      responsible for any share certificate which is lost or delayed in the      course of delivery. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19. | Company’s      Lien on Shares Not Fully Paid |
|-----|----------------------------------------------------|

|   | The      company has a lien on all partly paid shares.  This lien has      priority over claims of others to the shares.  The lien is for      any money owed to the company for the shares.  The directors can      decide to give up any lien which has arisen and can also decide to suspend      any lien which would otherwise apply to particular  shares. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20. | Enforcing      Lien by Sale |
|-----|-----------------------------|

|   | If      a shareholder fails to pay the company any amount due on his partly paid      shares, the directors can enforce the company’s lien by selling all or any      of them in any way they decide.  The directors cannot, however,      sell the shares until all the following conditions are    met:- |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      money owed by the shareholder must be payable  immediately; |
|--------|-----|----------------------------------------------------------------------|

|   | (ii) | the      directors must have given notice to the shareholder.  The notice      must state the amount of money due, it must demand payment of this sum and      state that the shareholders’ shares may be sold if the money is not      paid; |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the      notice must have been served on the shareholder or on any person who is      entitled to the shares by law and can be served in any way that the      directors decide; and |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (iv) | the      money has not been paid by at least 14 clear days after the notice has      been served. |
|--------|------|---------------------------------------------------------------------------------------------------|

| 21. | Application      of Proceeds of Sale If the directors sell any shares on which the      company has a lien, the proceeds will first be used to pay the company’s      expenses associated with the sale.  The remaining money will be      used to pay off the amount which is then payable on the shares and any      balance will be passed to the former shareholder or to any person who      would otherwise be entitled to the shares by law.  But the      company’s lien will also apply to any such balance to cover any money      still due to the company in respect of the shares which is not immediately      payable.  The company has the same rights over the money as it      had over the shares immediately before they were sold.  The      company need not pay over anything until the certificate representing the      shares sold has been delivered to the company for      cancellation. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 22. | Calls The directors can call on shareholders to pay any      money which has not yet been paid to the company for their      shares.  This includes the nominal value of the shares and any      premium which may be payable on those shares.  The directors can      also make calls on people who are entitled to shares by law.  If      the terms of issue of the shares allow this, the directors can do any one      or more of the following:- |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | make      calls at any time and as often as they think  fit; |
|--------|-----|--------------------------------------------------------------|

|   | (ii) | decide      when and where the money is to bepaid; |
|--------|------|----------------------------------------------------|

|   | (iii) | decide      that the money may be paid byinstalments; |
|--------|-------|-------------------------------------------------------|

|   | (iv) | revoke      or postpone any call. |
|--------|------|-----------------------------------|

| 23. | Timing      of Calls A call is treated as having been made as soon as      the directors have passed a resolution authorising  it. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

----

| 24. | Liability      of Joint Holders Joint      shareholders are jointly and severally liable to pay any calls in respect      of their shares.  This means that any of them can be sued for      all the money due on the shares or they can be sued    together. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 25. | Interest      Due on Non-Payment Where      a call is made and the money due remains unpaid, the shareholder will be      liable to pay interest on the amount unpaid from the day it is due until      it has actually been paid.  The directors will decide on the      annual rate of interest, which must not exceed the Bank of England base      rate by more than five per cent.  The shareholder will also be      liable to pay all expenses incurred by the company as a result of the      non-payment of the call.  The directors can decide to forego      payment of any or all of such interest or  expenses. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 26. | Sums      Due on Allotment Treated as Calls If      the terms of a share require any money to be paid at the time of      allotment, or at any other fixed date, the money due will be treated in      the same way as a valid call for money on shares which is due on the same      date.  If this money is not paid, everything in these articles      relating to non-payment of calls applies.  This includes      articles which allow the company to forfeit or sell shares and to claim      interest. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 27. | Power      to Differentiate On      or before an issue of shares, the directors can decide that shareholders      can be called on to pay different amounts or that they can be called on at      different times. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 28. | Payment      of Calls in Advance The      directors can accept payment in advance of some or all of the money from a      shareholder before he is called on to pay that money.  The      directors can agree to pay interest on money paid in advance until it      would otherwise be due to the company.  The rate of interest      will be decided by the directors, but must not exceed the Bank of England      base rate by more than five per cent. unless the company passes an      ordinary resolution to allow a higherrate. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29. | Notice      if Call or Instalment Not Paid If      a shareholder fails to pay a call or an instalment of a call when due, the      directors can send the shareholder a notice requiring payment of the      unpaid amount, together with any interest accrued and any expenses      incurred by the company as a result of the failure to  pay. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 30. | Form      of Notice This      notice must:- |
|-----|--------------------------------------------------|

----

|   | (i) | demand      payment of the amount immediately payable, plus any interest and      expenses; |
|--------|-----|---------------------------------------------------------------------------------------------|

|   | (ii) | give      the date by when the total amount due must be paid.  This must      be at least 14 clear days after the date of the  notice; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | say      where the payment must be made; and |
|--------|-------|----------------------------------------------|

|   | (iv) | say      that if the full amount demanded is not paid by the time and at the place      stated, the company can forfeit the shares on which the call or instalment      is outstanding. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31. | Forfeiture      for Non-Compliance with Notice If      the notice is not complied with, the shares it relates to can be forfeited      at any time while any amount is still outstanding.  This is done      by the directors passing a resolution stating that the shares have been      forfeited.  The forfeiture will extend to all dividends and      other sums payable in respect of the forfeited shares which have not been      paid before the forfeiture.  The directors can accept the      surrender of any share which would otherwise be      forfeited.  Where they do so, references in these articles to      forfeiture include surrender. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32. | Notice      after Forfeiture After      a share has been forfeited, the company will notify the person whose share      has been forfeited.  However, the share will still be forfeited      even if such notice is notgiven. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 33. | Sale      of Forfeited Shares |
|-----|-------------------------------|

| (A) | A      forfeited share becomes the property of the company and the directors can      sell or dispose of it on any terms and in any way that they      decide.  This can be with, or without, a credit for any amount      previously paid up for the share.  It can be sold or disposed of      to any person, including the previous shareholder or the person who was      previously entitled to the share by law.  The directors can, if      necessary, authorise any person to transfer a forfeited    share. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | After      a share has been forfeited, the directors can cancel the forfeiture, but      only before the share has been sold or disposed of.  This      cancellation of forfeiture can be on any terms the directors      decide. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 34. | Arrears      to be Paid Notwithstanding Forfeiture When      a person’s shares have been forfeited, he will lose all rights as      shareholder in respect of those forfeited shares.  He must      return any share certificate for the forfeited shares to the company for      cancellation.  However, he will remain liable to pay calls which      have been made, but not paid, before the shares were      forfeited.  The shareholder also continues to be liable for all      claims and demands which the company could have made relating to the      forfeited share.  He must pay interest on any unpaid amount      until it is paid.  The directors can fix the rate of interest,      but it must not exceed the Bank of England base rate by more than five per      cent.  He is not entitled to any credit for the value of the      share when it was forfeited or for any consideration received on its      disposal unless the directors decide to allow credit for all or any of      that value. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 35. | Statutory      Declaration as to Forfeiture |
|-----|---------------------------------------------|

| (A) | A      director or the secretary can make a statutory declaration      declaring:- |
|-----|------------------------------------------------------------------------------------|

|   | (i) | that      he is a director or the secretary of the  company; |
|--------|-----|--------------------------------------------------------------|

|   | (ii) | that      a share has been properly forfeited under the articles;  and |
|--------|------|------------------------------------------------------------------------|

|   | (iii) | when      the share was forfeited. |
|--------|-------|------------------------------------|

| (B) | If      such a declaration is delivered to a new holder of a share along with a      completed transfer form (if one is required), this gives the buyer good      title.  The new shareholder does not need to take any steps to      see how any money paid for the share is used.  His ownership of      the share will not be affected if the steps taken to forfeit, sell or      dispose of the share were invalid or irregular, or if anything that should      have been done was not done. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 36. | Transfer |
|-----|----------|

| (A) | Certificated      shares Unless      these articles say otherwise, any shareholder can transfer some or all of      his certificated shares to another person.  A transfer of      certificated shares must be made in writing and either in the usual      standard form or in any other form approved by the    directors. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | CREST      shares Unless      these articles say otherwise, any shareholder can transfer some or all of      his CREST shares to another person.  A transfer of CREST shares      must be made through CREST and must comply with the uncertificated      securities rules. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | Entry      on register The      person making a transfer will continue to be treated as a shareholder      until the name of the person to whom the share is being transferred is put      on the register for thatshare. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | In      the case of an instrument of transfer expressed to be a transfer of shares      denominated in Sterling and bearing a date which is on or before 22 May      2008, such transfer shall be a transfer of the same number of ordinary      shares denominated in US dollars as is specified in such      transfer. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 37. | Signing      of Transfer |
|-----|--------------------------|

| (A) | A      share transfer form for certificated shares must be signed or made      effective in some other way by, or on behalf of, the person making the      transfer. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | In      the case of a transfer of a certificated share, where the share is not      fully paid, the share transfer form must also be signed or made effective      in some other way by, or on behalf of, the person to whom the share is      being transferred. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | If      the company registers a transfer of a certificated share, it can keep the      transfer form. |
|-----|-------------------------------------------------------------------------------------------------------|

| 38. | Rights      to Decline Registration of Partly Paid Shares The      directors can refuse to register the transfer of any shares which are not      fully paid. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 39. | Other      Rights to DeclineRegistration |
|-----|------------------------------------------|

| (A) | Certificated      shares |
|-----|--------------------------|

|   | (i) | A      share transfer form cannot be used to transfer more than one class of      shares.  Each class needs a separate  form. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | Transfers      cannot be in favour of more than four joint  holders. |
|--------|------|----------------------------------------------------------------------|

|   | (iii) | The      share transfer form must be properly stamped to show payment of any      applicable stamp duty or certified or otherwise shown to the satisfaction      of the directors to be exempt from stamp duty and must be delivered to the      office, or any other place decided on by the directors.  The      transfer form must be accompanied by the share certificate relating to the      shares being transferred, unless the transfer is being made by a person to      whom the company was not required to, and did not send, a      certificate.  The directors can also ask (acting reasonably) for      any other evidence to show that the person wishing to transfer the share      is entitled to do so and, if the share transfer form is signed by another      person on behalf of the person making the transfer, evidence of the      authority of that person to do so. |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | CREST      shares |
|-----|-------------------|

|   | (i) | Registration      of a transfer of CREST shares can be refused in the circumstances set out      in the uncertificated securitiesrules. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | Transfers      cannot be in favour of more than four joint  holders. |
|--------|------|----------------------------------------------------------------------|

| (C) | Renunciations       Where      a share has not yet been entered on the register, the directors can      recognise a renunciation by that person of his right to the share in      favour of some other person.  Such renunciation will be treated      as a transfer and the directors have the same powers of refusing to give      effect to such a renunciation as if it were a  transfer. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 40. | No      Fee for Registration No      fee is payable to the company for transferring shares or registering      changes relating to the ownership ofshares. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 41. | Untraced      Shareholders |
|-----|----------------------------|

| (A) | The      company can sell any certificated shares at the best price reasonably      obtainable at the time of the saleif:- |
|-----|----------------------------------------------------------------------------------------------------------------------------|

|   | (i) | during      the 12 years before the earliest of the notices referred to in (ii) below,      the shares have been in issue either as certificated shares or as CREST      shares, at least three cash dividends have become payable on the shares      and no dividend has been cashed during that  period; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | after      the 12 year period, the company has published a notice, stating that it      intends to sell the shares.  The notice must have appeared in a      national newspaper in the United Kingdom and in a local newspaper      appearing in the area in the United Kingdom which includes the postal      address held by the company for serving notices relating to those shares;      and |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | during      the 12 year period and for three months after the last of the notices      referred to in (ii) above appear, the company has not heard from the      shareholder or any person entitled to the shares by  law. |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | The      company can also sell at the best price reasonably obtainable at the time      of the sale any additional certificated shares in the company issued      either as certificated shares or as CREST shares during the said 12 year      period referred to in paragraph      (A)(i) in right of any share to which paragraph (A)      applies (or in right of any share so issued), if the criteria in paragraph      (A)(ii) and (iii) are      satisfied in relation to the additional shares (but as if the words “after      the 12 year period” were omitted from paragraph      (A)(ii) and the words “during the 12 year period and” were omitted      from paragraph      (A)(iii)) and no dividend has been cashed on these      shares. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | To      sell any shares in this way, the directors can appoint anyone to transfer      the shares.  This transfer will be just as effective as if it      had been signed by the holder, or by a person who is entitled to the      shares by law.  The person to whom the shares are transferred      will not be bound to concern himself as to what is done with the purchase      moneys nor will his ownership be affected even if the sale is irregular or      invalid in any way. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | The      proceeds of sale will belong to the company, but it must pay an amount      equal to the sale proceeds less the costs of the sale to the shareholder      who could not be traced, or to the person who is entitled to his shares by      law, if that shareholder, or person, asks for  it. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | After      the sale, the company must record the name of the shareholder, or (if      known) the person who would have been entitled to the shares by law, as a      creditor for the money in its accounts.  The company will not be      a trustee of the money and will not be liable to pay interest on      it.  The company can use the money, and any money earned by      using the money, for its business or in any other way that the directors      decide. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 42. | Transmission      on Death |
|-----|----------------------------|

| (A) | When      a sole shareholder or a shareholder who is the last survivor of joint      shareholders dies, his personal representatives will be the only people      who will be recognised as being entitled to his  shares. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | If      a joint shareholder dies, the surviving joint shareholder or shareholders      will be the only people who will be recognised as being entitled to his      shares. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | However,      this article does not discharge the estate of any shareholder from any      liability. |
|-----|------------------------------------------------------------------------------------------------------|

| 43. | Entry      of Transmission in Register A      person who becomes entitled to a share as a result of the death or      bankruptcy of a shareholder or some other event which gives rise to the      transmission of the share by operation of law must provide any evidence of      his entitlement which is reasonably required.  In the case of      certificated shares, the directors must note this entitlement in the      register within two months of receiving such  evidence. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 44. | Election      of Person Entitled byTransmission |
|-----|-------------------------------------------------|

| (A) | Subject      to these articles, a person who becomes entitled to a share by law can      either be registered as the shareholder or choose another person to become      the shareholder. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | If      a person who is entitled to a certificated share by law wants to be      registered as a shareholder, he must deliver or send a notice to the      company saying that he has made this decision.  This notice will      be treated as a transfer form.  All the provisions of these      articles about registering transfers of certificated shares apply to      it.  The directors have the same power to refuse to register a      person entitled to certificated shares by law as they would have had to      refuse to register a transfer by the person who was previously entitled to      the shares. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | If      a person entitled to a CREST share by law wants to be registered as a      shareholder, he must do so in accordance with the uncertificated      securities rules.  All the provisions of these articles about      registering transfers of CREST shares will apply and the same power to      refuse to register a person entitled to a CREST share by law will apply as      would have applied to refuse to register a transfer by the person who was      previously entitled to theshares. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | If      a person who is entitled to a certificated share by law wants the share to      be transferred to another person, he must do this by signing a transfer      form to the person he has selected.  The directors have the same      power to refuse to register the person selected as they would have had to      refuse to register a transfer by the person who was previously entitled to      the shares. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | If      a person who is entitled to a CREST share by law wants the share to be      transferred to another person, he must do this using CREST.  The      same power to refuse to register the person selected will apply as would      have applied to refuse to register a transfer by the person who was      previously entitled to theshares. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 45. | Rights      of Person Entitled byTransmission |
|-----|-----------------------------------------------|

| (A) | Where      a person becomes entitled to a share by law, the rights of the registered      shareholder in relation to that share will cease to have      effect. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | A      person who is entitled to a share by law is entitled to any dividends or      other money relating to the share, even though he is not registered as the      holder of the share, on supplying evidence reasonably required to show his      title to the share.  However, the directors can send written      notice to the person saying the person must either be registered as the      holder of the share or transfer the share to some other      person.  If the person entitled to a share by law does not do      this within 60 days of the notice, the directors can withhold all      dividends or other money relating to the share until he    does. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | Unless      he is registered as the holder of the share, the person entitled to a      share by law is not entitledto:- |
|-----|-------------------------------------------------------------------------------------------------------------------------|

|   | (i) | receive      notices of shareholders’ meetings or attend or vote at these meetings;      or |
|--------|-----|---------------------------------------------------------------------------------------------------|

|   | (ii) | exercise      any of the other rights of a shareholder in relation to these      meetings, |
|--------|------|--------------------------------------------------------------------------------------------|

| 46. | Increase,      Consolidation, Sub-Division and Cancellation |
|-----|-------------------------------------------------------------|

| (A) | The      company’s shareholders can increase the company’s share capital by passing      an ordinary resolution.  This resolution will fix the amount of      the increase and the amount of the newshares. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | The      company’s shareholders can pass an ordinary resolution to do any of the      following:- |
|-----|---------------------------------------------------------------------------------------------------------|

|   | (i) | consolidate,      or consolidate and then divide, all or any of its share capital into      shares of a larger amount than the existing  shares; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | divide      some or all of its shares into shares of a smaller amount than the      existing shares.  This is subject to any restrictions in the      legislation.  The resolution can provide that, as between the      holders of the divided shares, different rights and restrictions of a kind      which the company can apply to new shares can apply to different divided      shares; and |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | cancel      any shares which have not been taken, or agreed to be taken, by anyone at      the date of the resolution and reduce the amount of the company’s share      capital by the amount of the cancelledshares. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47. | Fractions If      any shares are consolidated, consolidated and then divided or divided, the      directors have power to deal with any fractions of shares which      result.  For example, they can decide that fractions are      aggregated and sold or deal with fractions in some other      way.  The directors can arrange for any shares representing      fractions to be entered in the register as certificated shares if they      consider that this makes it easier to sell them.  The directors      can sell those shares to anyone, including the company, and can authorise      any person to transfer or deliver the shares to the buyer or in accordance      with the buyer’s instructions.  The buyer does not have to take      any steps to see how any money he is paying is used and his ownership will      not be affected if the sale is irregular or invalid in any      way. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 48. | Reduction      of Capital The      company can pass a special resolution to reduce its share capital, any      capital redemption reserve, any share premium account or any other      undistributable reserve in any way.  This is subject to any      restrictions under thelegislation. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 49. | Omission      or Non-Receipt of Notice |
|-----|----------------------------------------|

| (A) | If      any notice, document or other information relating to any meeting or other      proceeding is accidentally not sent or supplied, or is not received (even      if the company becomes aware of such non-receipt), the meeting or other      proceeding will not be invalid as aresult. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | A      shareholder present in person or by proxy at a shareholders’ meeting is      treated as having received proper notice of that meeting and, where      necessary, of the purpose of thatmeeting. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 50. | Postponement      of General Meetings If      the directors consider that it is impracticable or undesirable to hold a      general meeting on the date or at the time or place stated in the notice      calling the meeting, they can move or postpone the meeting (or do      both).  If the directors do this, an announcement of the date,      time and place of the rearranged meeting will, if practicable, be      published in at least two national newspapers in the United      Kingdom.  Notice of the business of the meeting does not need to      be given again.  The directors must take reasonable steps to      ensure that any shareholder trying to attend the meeting at the original      time and place is informed of the new arrangements.  If a      meeting is rearranged in this way, proxy forms are valid if they are      received as required by these articles not less than 48 hours before      the time of the rearranged meeting.  The directors can also move      or postpone the rearranged meeting (or do both) under this      article. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 51. | Quorum Before      a general meeting starts to do business, there must be a quorum      present.  Unless these articles say otherwise, a quorum for all      purposes is two people who are entitled to vote.  They can be      shareholders who are personally present or proxies for shareholders or a      combination of both.  If a quorum is not present, a chairman of      the meeting can still be chosen and this will not be treated as part of      the business of the meeting. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 52. | Procedure      if Quorum Not Present |
|-----|--------------------------------------|

| (A) | This      article applies if a quorum is not present within five minutes of the time      fixed for a general meeting to start or within any longer period not      exceeding one hour which the chairman of the meeting can decide or if a      quorum ceases to be present during a general  meeting. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | If      the meeting was called by shareholders it will be      cancelled.  Any other meeting will be adjourned to any day      (being not less than three nor more than 28 days later), time and      place stated in the notice of meeting.  If the notice does not      provide for this, the meeting shall be adjourned to a day (being not less      than ten nor more than 28 days later), time and place decided on      by the chairman of the meeting and in this case the company will give not      less than seven clear days’ written notice of the adjourned      meeting. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | One      shareholder present in person or by proxy and entitled to vote will      constitute a quorum at any adjourned meeting and any notice of an      adjourned meeting will saythis. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 53. | Security      Arrangements The      directors can put in place arrangements, both before and during any      general meeting, which they consider to be appropriate for the proper and      orderly conduct of the general meeting and the safety of people attending      it.  This authority includes power to refuse entry to, or remove      from meetings, people who fail to comply with the      arrangements. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 54. | Chairman      of General Meeting |
|-----|----------------------------------|

| (A) | The      chairman will be the chairman of the meeting at every general meeting, if      he is willing and able to take thechair. |
|-----|----------------------------------------------------------------------------------------------------------------------------------|

| (B) | If      the company does not have a chairman, or if he is not willing and able to      take the chair, a deputy chairman will chair the meeting if he is willing      and able to take the chair.  If more than one deputy chairman is      present they will agree between themselves who will take the chair and if      they cannot agree, the deputy chairman who has been a director longest      will take the chair. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | If      the company does not have a chairman or a deputy chairman, or if neither      the chairman nor a deputy chairman is willing and able to chair the      meeting, after waiting five minutes from the time that a meeting is due to      start, the directors who are present will choose one of themselves to act      as chairman of the meeting.  If there is only one director      present, he will be the chairman of the meeting, if he    agrees. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | If      there is no director willing and able to be the chairman of the meeting,      then the persons who are present at the meeting and entitled to vote will      decide which one of them is to be the chairman of the    meeting. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | Nothing      in these articles is intended to restrict or exclude any of the powers or      rights of a chairman of a meeting which are given by  law. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 55. | Orderly      Conduct The      chairman of a meeting can take any action he considers appropriate for      proper and orderly conduct at a general meeting.  The chairman’s      decision on points of order, matters of procedure or on matters that arise      incidentally from the business of a meeting is final, as is the chairman’s      decision on whether a point or matter is of this  nature. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 56. | Entitlement      to Attend and Speak Each      director can attend and speak at any general meeting of the      company.  The chairman of a meeting can also allow anyone to      attend and speak where he considers that this will help the business of      the meeting. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 57. | Adjournments |
|-----|--------------|

| (A) | The      chairman of a meeting can adjourn the meeting before or after it has      started, and whether or not a quorum is present, if he considers      that:- |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | there      is not enough room for the number of shareholders and proxies who can and      wish to attend the meeting; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      behaviour of anyone present prevents, or is likely to prevent, the      business of the meeting being carried out in an orderly way;      or |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | an      adjournment is necessary for any other reason, so that the business of the      meeting can be properly carriedout. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------|

| (B) | The      chairman of a meeting can also adjourn a meeting which has a quorum      present if this is agreed by the meeting.  This can be to a      time, date and place proposed by the chairman of the meeting or the      adjournment can be indefinite.  The chairman of the meeting must      adjourn the meeting if the meeting directs him to.  In these      circumstances the meeting will decide how long the adjournment will be and      where it will adjourn to.  If a meeting is adjourned      indefinitely, the directors will fix the time, date and place of the      adjourned meeting. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | A      reconvened meeting can only deal with business that could have been dealt      with at the meeting which wasadjourned. |
|-----|-------------------------------------------------------------------------------------------------------------------------------|

| (D) | Meetings      can be adjourned more than once. |
|-----|------------------------------------------------|

| 58. | Notice      of Adjournment If      the continuation of an adjourned meeting is to take place three months or      more after it was adjourned, notice of the adjourned meeting must be given      in the same way as was required for the original      meeting.  Except where these articles require it, there is no      need to give notice of the adjourned meeting or of the business to be      considered there. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 59. | Amendments      to Resolutions |
|-----|--------------------------------|

| (A) | Amendments      can be proposed to any resolution if they are clerical amendments or      amendments to correct some other obvious error in the      resolution.  No other amendments can be proposed to any special      resolution. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | Amendments      to an ordinary resolution which are within the scope of the resolution can      be proposed if:- |
|-----|------------------------------------------------------------------------------------------------------------------|

|   | (i) | notice      of the proposed amendment has been received by the company at least two      working days before the date of the meeting, or adjourned meeting;      or |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      chairman of the meeting decides that the amendment is appropriate for      consideration by the meeting. |
|--------|------|-------------------------------------------------------------------------------------------------------------------|

| 60. | Amendments      Ruled Out of Order If      the chairman of a meeting rules that a proposed amendment to any      resolution under consideration is out of order, any error in that ruling      will not affect the validity of a vote on the original      resolution. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 61. | Votes      of Members Shareholders      who are present at a general meeting and duly appointed proxies present at      a general meeting can vote on a show of hands.  They will have      one vote each.  On a poll, every shareholder present in person      or by proxy will have one vote for every share he holds.  This      is subject to any special rights or restrictions as to voting which are      given to any shares or upon which any shares may be held at the relevant      time and to these articles.  If a shareholder votes on a poll,      he does not have to use all of his votes or cast all his votes in the same      way. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 62. | Method      of Voting A      resolution put to the vote at any general meeting will be decided on a      show of hands unless a poll is demanded when, or before, the chairman of      the meeting declares the result of the show of hands.  Subject      to the legislation, a poll can be demandedby:- |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      chairman of the meeting; |
|--------|-----|-----------------------------------|

|   | (ii) | at      least five persons at the meeting who are entitled to  vote; |
|--------|------|----------------------------------------------------------------------|

----

|   | (iii) | one      or more shareholders at the meeting who are entitled to vote (or their      proxies) and who have between them at least ten per cent. of the total      votes of all shareholders who have the right to vote at the meeting;      or |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | one      or more shareholders at the meeting who have shares which allow them to      vote at the meeting (or their proxies) and on which the total amount which      has been paid up is at least ten per cent. of the total sum paid up on all      shares which give the right to vote at the  meeting. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The      chairman of the meeting can also demand a poll before a resolution is put      to the vote on a show of hands. |
|--------|-------------------------------------------------------------------------------------------------------------------------|

|   | A      demand for a poll can be withdrawn if the chairman of the meeting agrees      to this. |
|--------|-----------------------------------------------------------------------------------------------|

|   | If      no poll is demanded or a demand for a poll is withdrawn, any declaration      by the chairman of the meeting of the result of a vote on that resolution      by a show of hands will stand as conclusive evidence of the result without      proof of the number or proportion of the votes recorded for or against the      resolution. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 63. | Procedure      if Poll Demanded If      a poll is demanded in the way allowed by these articles, the chairman of      the meeting can decide when, where and how it will be      taken.  The result will be treated as the decision of the      meeting at which the poll was demanded, even if the poll is taken after      the meeting. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 64. | When      Poll to be Taken If      a poll is demanded on a vote to elect the chairman of the meeting, or to      adjourn a meeting, it must be taken immediately at the      meeting.  Any other poll demanded can either be taken      immediately or within 30 days from the date it was demanded and at a time      and place decided on by the chairman of the meeting.  It is not      necessary to give notice for a poll which is not taken      immediately. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 65. | Continuance      of Other Business after Poll Demand A      demand for a poll on a particular matter (other than on the election of      the chairman of the meeting or on the adjournment of the meeting) will not      stop a meeting from continuing to deal with other  matters. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 66. | Votes      of Joint Holders If      more than one joint shareholder votes (including voting by proxy), the      only vote which will count is the vote of the person whose name is listed      before the other voters on the register for the  share. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 67. | Voting      on behalf of Incapable Member This      article applies where a court or official claiming jurisdiction to protect      people who are unable to manage their own affairs has made an order about      the shareholder.  The person appointed to act for that      shareholder can vote for him.  He can also exercise any other      rights of the shareholder relating to meetings.  This includes      appointing a proxy, voting on a show of hands and voting on a      poll.  Before the representative does so however, such evidence      of his authority as the directors require must be received by the company      not later than the latest time at which proxy forms must be received to be      valid for use at the relevant meeting or on the holding of the relevant      poll. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 68. | No      Right to Vote where Sums Overdue on Shares Unless      the directors decide otherwise, a shareholder cannot attend or vote shares      at any general meeting of the company or upon a poll or exercise any other      right conferred by membership in relation to general meetings or polls if      he has not paid all amounts relating to those shares which are due at the      time of the meeting. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 69. | Objections      or Errors in Voting If:- |
|-----|-----------------------------------------------|

|   | (i) | any      objection to the right of any person to vote is  made; |
|--------|-----|-----------------------------------------------------------------|

|   | (ii) | any      votes have been counted which ought not to have been counted or which      might have been rejected; or |
|--------|------|------------------------------------------------------------------------------------------------------------------|

|   | (iii) | any      votes are not counted which ought to have been  counted, |
|--------|-------|-------------------------------------------------------------------|

| 70. | Appointment      of Proxies A      proxy form must be in writing, signed by the shareholder appointing the      proxy, or by his attorney.  Where the proxy is appointed by a      company, the proxy form should either be sealed by that company or signed      by someone authorised to sign it.  A shareholder can appoint      more than one proxy to attend on the same occasion.  If a      shareholder appoints more than one proxy, he must specify the number of      shares in relation to which each proxy is appointed and each proxy will      only be entitled to exercise voting rights in relation to the number of      shares for which he is appointed.  If a shareholder appoints      more than one proxy, he must ensure that no more than one proxy is      appointed in relation to anyshare. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 71. | Receipt      of Proxies |
|-----|-------------------------|

| (A) | Proxy      forms which are in hard copy form must be received at the office, or at      any other place specified by the company for the receipt of appointments      of proxy in hard copy form:- |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | 48      hours (or such shorter time as the directors decide) before a meeting or      an adjourned meeting; |
|--------|-----|-------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | 24      hours (or such shorter time as the directors decide) before a poll is      taken, if the poll is taken more than 48 hours after it was demanded;      or |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | before      the end of the meeting at which the poll was demanded (or at such later      time as the directors decide), if the poll is taken after the end of the      meeting or adjourned meeting but 48 hours or less after it was      demanded. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | Proxy      forms which are in electronic form must be received at the address      specified by the company for the receipt of appointments of proxy by      electronic means at least:- |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | 48      hours (or such shorter time as the directors decide) before a meeting or      an adjourned meeting; |
|--------|-----|-------------------------------------------------------------------------------------------------------------|

|   | (ii) | 24      hours (or such shorter time as the directors decide) before a poll is      taken, if the poll is taken more than 48 hours after it was demanded;      or |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | before      the end of the meeting at which the poll was demanded (or at such later      time as the directors decide), if the poll is taken after the end of the      meeting or adjourned meeting but 48 hours or less after it was      demanded. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | If      the above requirements are not complied with, the proxy will not be able      to act for the person who appointedhim. |
|-----|-------------------------------------------------------------------------------------------------------------------------------|

| (D) | If      more than one valid proxy form is received in respect of the same share      for use at the same meeting or poll, the one which is received last      (regardless of its date or the date on which it is signed) will be treated      as the valid form.  If it is not possible to determine the order      of receipt, none of the forms will be treated as  valid. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | A      shareholder can attend and vote at a general meeting or on a poll even if      he has appointed a proxy to attend and vote on his behalf at that meeting      or on that poll. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (F) | The      proceedings at a general meeting will not be invalidated where an      appointment of a proxy in respect of that meeting is sent in electronic      form as provided in these articles, but because of a technical problem it      cannot be read by therecipient. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (G) | When      calculating the periods mentioned in this article, the directors can      decide not to take account of any part of a day that is not a working      day. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 72. | Maximum      Validity of Proxy A      proxy form will cease to be valid 12 months from the date of its      receipt.  But it will be valid, unless the proxy form itself      states otherwise, if it is used at an adjourned meeting or on a poll after      a meeting or an adjourned meeting even after 12 months, if it was valid      for the original meeting. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 73. | Form      of Proxy A      proxy form can be in any form which the directors approve.  A      proxy form gives the proxy the authority to demand a poll or to join      others in demanding a poll and to vote on any amendment to a resolution      put to, or any other business which may properly come before, the      meeting.  Unless it says otherwise, a proxy form is valid for      the meeting to which it relates and also for any adjournment of that      meeting. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 74. | Cancellation      of Proxy’s Authority Any      vote cast in the way a proxy form authorises or any demand for a poll made      by a proxy will be valid eventhough:- |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      person who appointed the proxy has died or is of unsound    mind; |
|--------|-----|----------------------------------------------------------------------------|

|   | (ii) | the      proxy form has been revoked; or |
|--------|------|------------------------------------------|

|   | (iii) | the      authority of the person who signed the proxy form for the shareholder has      been revoked. |
|--------|-------|-------------------------------------------------------------------------------------------------------|

| 75. | Separate      General Meetings If      a separate general meeting of holders of shares of a class is called      otherwise than for changing or abrogating the rights of the shares of that      class, the provisions of these articles relating to general meetings will      apply to such a meeting with any necessary changes.  A general      meeting where ordinary shareholders are the only shareholders who can      attend and vote in their capacity as shareholders will also constitute a      separate general meeting of the holders of the ordinary      shares. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 76. | Number      of Directors The      company must have a minimum of two directors and a maximum of 15 directors      (disregarding alternate directors).  But the shareholders can      change this restriction by passing an ordinary  resolution. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 77. | Directors’      Shareholding Qualification The      directors are not required to hold any shares in the    company. |
|-----|---------------------------------------------------------------------------------------------------------------------------------|

| 78. | Power      of Company to Appoint Directors   Subject      to these articles, the company can, by passing an ordinary resolution,      appoint any willing person to be a director, either as an extra director      or to fill a vacancy where a director has stopped being a director for      some reason. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 79. | Power      of Directors to Appoint Directors Subject      to these articles, the directors can appoint any willing person to be a      director, either as an extra director or as a replacement for another      director.  Any director appointed in this way must retire from      office at the first annual general meeting after his      appointment.  A director who retires in this way is then      eligible for re-appointment. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 80. | Retirement      of Directors by Rotation |
|-----|------------------------------------------|

| (A) | At      every annual general meeting the following directors shall retire from      office: |
|-----|---------------------------------------------------------------------------------------------|

|   | (i) | any      director who has been appointed by the directors since the last annual      general meeting, and |
|--------|-----|-----------------------------------------------------------------------------------------------------------|

|   | (ii) | any      director who held office at the time of the two preceding annual general      meetings and who did not retire at either of them,  and |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | any      director who has been in office, other than as a director holding an      executive position, for a continuous period of nine years or more at the      date of the meeting. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | Any      director who retires at an annual general meeting may offer himself for      re-appointment by theshareholders. |
|-----|--------------------------------------------------------------------------------------------------------------------------|

| 81. | Filling      Vacancies Subject      to these articles, at the general meeting at which a director retires,      shareholders can pass an ordinary resolution to re-appoint the director or      to appoint some other eligible person in his  place. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 82. | Power      of Removal by Special Resolution In      addition to any power to remove directors conferred by the legislation,      the company can pass a special resolution to remove a director from office      even though his time in office has not ended and can (subject to these      articles) appoint a person to replace a director who has been removed in      this way by passing an ordinaryresolution. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 83. | Persons      Eligible as Directors The      only people who can be appointed as directors at a general meeting are the      following:- |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | directors      retiring at the meeting; |
|--------|-----|-----------------------------------------|

|   | (ii) | anyone      recommended by the directors; and |
|--------|------|-----------------------------------------------|

|   | (iii) | anyone      nominated by a shareholder (not being the person to be nominated) in the      following way: |
|--------|-------|----------------------------------------------------------------------------------------------------------|

|   | (a) | a      letter stating that he intends to nominate another person for appointment      as a director; and |
|--------|-----|----------------------------------------------------------------------------------------------------------|

|   | (b) | written      confirmation from that person that he is willing to be      appointed. |
|--------|-----|-------------------------------------------------------------------------------------|

| 84. | Position      of Retiring Directors A      director retiring at a general meeting retires at the end of that meeting      or (if earlier) when a resolution is passed to appoint another person in      the director’s place or when a resolution to re-appoint the director is      put to the meeting and lost.  Where a retiring director is      re-appointed, he continues as a director without a  break. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 85. | Vacation      of Office by Directors Any      director automatically stops being a director  if:- |
|-----|--------------------------------------------------------------------------------------------------------|

|   | (i) | he      gives the company a written notice of  resignation; |
|--------|-----|-------------------------------------------------------------|

|   | (ii) | he      gives the company a written notice in which he offers to resign and the      directors decide to accept thisoffer; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | not      less than three-quarters of the other directors  pass a      resolution or sign a written notice requiring the director to      resign; |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | he      is or has been suffering from mental ill health and the directors pass a      resolution removing the director fromoffice; |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | he      has missed directors’ meetings (whether or not an alternate director      appointed by him attends those meetings) for a continuous period of six      months without permission from the directors and the directors pass a      resolution removing the director fromoffice; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (vi) | a      bankruptcy order is made against him or he makes any arrangement or      composition with his creditorsgenerally; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------|

|   | (vii) | he      is prohibited from being a director under the legislation;    or |
|--------|-------|--------------------------------------------------------------------------|

|  | (viii) | he      ceases to be a director under the legislation or he is removed from office      under these articles. |
|--|--------|---------------------------------------------------------------------------------------------------------------|

| 86. | Alternate      Directors |
|-----|--------------------------|

| (A) | Any      director can appoint any person (including another director) to act in his      place (called an “alternate director”).  That appointment      requires the approval of the directors, unless previously approved by the      directors or unless the appointee is another director.  A      director appoints an alternate director by sending a signed written notice      of appointment to the office or to an address specified by the company or      by tabling it at a meeting of the directors, or in such other way as the      directors approve. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | The      appointment of an alternate director ends on the happening of any event      which, if he were a director, would cause him to vacate that      office.  It also ends if the alternate director resigns his      office by written notice to the company or if his appointor stops being a      director, unless that director retires at a general meeting at which he is      re-appointed.  A director can also remove his alternate director      by a written notice sent to the office or to an address specified by the      company or tabled at a meeting of thedirectors. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | An      alternate director is entitled to receive notices of meetings of the      directors.  He is entitled to attend and vote as a director at      any meeting at which the director appointing him is not personally present      and generally at that meeting is entitled to perform all of the functions      of his appointor as a director.  The provisions of these      articles regulating the meeting apply as if he (instead of his appointor)      were a director.  If he is himself a director, or he attends any      meeting as an alternate director for more than one director, he can vote      cumulatively for himself and for each other director he represents but he      cannot be counted more than once for the purposes of the      quorum.  An alternate director’s signature to any resolution in      writing of the directors is as effective as the signature of his      appointor, unless the notice of his appointment provides to the      contrary.  This article also applies in a similar fashion to any      meeting of a committee of which his appointor is a      member.  Except as set out in this article, an alternate      director:- |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | does      not have power to act as adirector; |
|--------|-----|-----------------------------------------------|

|   | (ii) | is      not deemed to be a director for the purposes of these articles;      and |
|--------|------|----------------------------------------------------------------------------------|

|   | (iii) | is      not deemed to be the agent of hisappointor. |
|--------|-------|-----------------------------------------------------|

----

| (D) | An      alternate director is entitled to contract and be interested in and      benefit from contracts, transactions or arrangements and to be repaid      expenses and to be indemnified by the company to the same extent as if he      were a director.  However, he is not entitled to receive from      the company as an alternate director any pay, except for that part (if      any) of the pay otherwise payable to his appointor as his appointor may      tell the company in writing to pay to his alternate    director. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 87. | Executive      Directors |
|-----|--------------------------|

| (A) | The      directors or any committee authorised by the directors can appoint one or      more directors to any executive position, on such terms and for such      period as they think fit.  They can also terminate or vary an      appointment at any time.  The directors or any committee      authorised by the directors will decide how much remuneration a director      appointed to an executive office will receive (whether as salary,      commission, profit share or any other form of remuneration) and whether      this is in addition to or in place of his fees as a    director. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | If      the directors terminate the appointment, the termination will not affect      any right of the company or the director in relation to any breach of any      employment contract which may be involved in the    termination. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 88. | Directors’      Fees The      total fees paid to all of the directors (excluding any payments made under      any other provision of these articles) must not  exceed:- |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | £250,000      a year; or |
|--------|-----|-------------------------------|

|   | (ii) | any      higher sum decided on by an ordinary resolution at a general      meeting. |
|--------|------|-------------------------------------------------------------------------------------|

| 89. | Additional      Remuneration The      directors or any committee authorised by the directors can award extra      fees to any director who, in their view, performs any special or extra      services for the company.  Extra fees can take the form of      salary, commission, profit-sharing or other benefits (and can be paid      partly in one way and partly in another).  This is all decided      by the directors or any committee authorised by the    directors. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 90. | Expenses The      company can pay the reasonable travel, hotel and incidental expenses of      each director incurred in attending and returning from general meetings,      meetings of the directors or committees of the directors or any other      meetings which as a director he is entitled to attend.  The      company will pay all other expenses properly and reasonably incurred by      each director in connection with the company’s business or in the      performance of his duties as a director.  The company can also      fund a director’s expenditure and that of a director of any holding      company of the company for the purposes permitted by the legislation and      can do anything to enable a director or a director of any holding company      of the company to avoid incurring such expenditure all as provided in the      legislation. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 91. | Pensions      and Gratuities for Directors |
|-----|--------------------------------------------|

| (A) | The      directors or any committee authorised by the directors can decide whether      to provide pensions, annual payments or other benefits to any director or      former director of the company, or any relation or dependant of, or person      connected to, such a person.  The directors can also decide to      contribute to a scheme or fund or to pay premiums to a third party for      these purposes.  The company can only provide pensions and other      benefits to people who are or were directors but who have not been      employed by, or held an office or executive position in, the company or      any of its subsidiary undertakings or former subsidiary undertakings or      any predecessor in business of the company or any such other company or to      relations or dependants of, or persons connected to, these directors or      former directors if the shareholders approve this by passing an ordinary      resolution. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | A      director or former director will not be accountable to the company or the      shareholders for any benefit provided pursuant to this      article.  Anyone receiving such a benefit will not be      disqualified from being or becoming a director of the    company. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 92. | Directors’      Interests Conflicts      of interest requiring authorisation bydirectors |
|-----|-----------------------------------------------------------------------------------------------------|

| (A) | The      directors may, subject to the quorum and voting requirements set out in      this article, authorise any matter which would otherwise involve a      director breaching his duty under the legislation to avoid conflicts of      interest (“Conflict”). |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | A      director seeking authorisation in respect of a Conflict must tell the      directors of the nature and extent of his interest in a Conflict as soon      as possible. The director must give the directors sufficient details of      the relevant matter to enable them to decide how to address the Conflict      together with any additional information which they may      request. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | Any      director (including the relevant director) may propose that the relevant      director be authorised in relation to any matter the subject of a      Conflict. Such proposal and any authority given by the directors shall be      effected in the same way that any other matter may be proposed to and      resolved upon by the directors under the provisions of these articles      except that: |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      relevant director and any other director with a similar interest will not      count in the quorum and will not vote on a resolution giving such      authority; and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      relevant director and any other director with a similar interest may, if      the other directors so decide, be excluded from any meeting of the      directors while the Conflict is under  consideration. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | Where      the directors give authority in relation to a  Conflict: |
|-----|---------------------------------------------------------------------|

----

|   | (i) | they      may (whether at the time of giving the authority or subsequently) (a)      require that the relevant director is excluded from the receipt of      information, the participation in discussion and/or the making of      decisions (whether at directors’ meetings or otherwise) related to the      Conflict; and (b) impose upon the relevant director such other terms for      the purpose of dealing with the Conflict as they think  fit; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | the      relevant director will be obliged to conduct himself in accordance with      any terms imposed by the directors in relation to the      Conflict; |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | the      directors may also provide that where the relevant director obtains      (otherwise than through his position as a director of the company)      information that is confidential to a third party, the director will not      be obliged to disclose that information to the company, or to use or apply      the information in relation to the company’s affairs, where to do so would      amount to a breach of thatconfidence; |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | the      terms of the authority shall be recorded in writing (but the authority      shall be effective whether or not the terms are so recorded);      and |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | the      directors may revoke or vary such authority at any time but this will not      affect anything done by the relevant director prior to such revocation in      accordance with the terms of suchauthority. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | If      a director knows that he is in any way directly or indirectly interested      in a proposed contract with the company or a contract that has been      entered into by the company, he must tell the other directors of the      nature and extent of that interest in accordance with the      legislation. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (F) | If      he has disclosed the nature and extent of his interest in accordance with      paragraph      (E), a director can do any one or more of the      following: |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | have      any kind of interest in a contract with or involving the company or      another company in which the company has an  interest; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | hold      any other office or place of profit with the company (except that of      auditor) in conjunction with his office of director for such period and      upon such terms, including as to remuneration, as the directors may      decide; |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | alone,      or through a firm with which he is associated do paid professional work      for the company or another company in which the company has an interest      (other than as auditor); |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | be      or become a director or other officer of, or employed by or otherwise be      interested in any holding company or subsidiary company of the company or      any other company in which the company has an interest;  and |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | be      or become a director of any other company in which the company does not      have an interest and which cannot reasonably be regarded as giving rise to      a conflict of interest at the time of his appointment as a director of      that other company. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (G) | A      director does not have to hand over to the company any benefit he receives      or profit he makes as a result of anything authorised under paragraph (A)      or allowed under paragraph (F)      nor is any type of contract authorised under paragraph (A)      or allowed under paragraph (F)      liable to be avoided. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (H) | A      director cannot vote or be counted in the quorum on a resolution of the      directors relating to appointing that director to a position with the      company or a company in which the company has an interest or the terms or      the termination of theappointment. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (I) | This      paragraph applies if the directors are considering proposals about      appointing two or more directors to positions with the company or any      company in which the company has an interest.  It also applies      if the directors are considering setting or changing the terms of their      appointment.  These proposals can be split up to deal with each      director separately.  If this is done, each director can vote      and be included in the quorum for each resolution, except any resolution      concerning him or concerning the appointment of another director to a      position with a company in which the company is interested where the      director has a Relevant Interest init. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (J) | A      director cannot vote or be counted in the quorum on a resolution of the      directors about a contract in which he has an interest and, if he does      vote, his vote will not be counted, but this prohibition will not apply to      any resolution where that interest cannot reasonably be regarded as likely      to give rise to a conflict of interest or where that interest is included      in the following list:- |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | a      resolution about giving him any guarantee, indemnity or security for money      which he or any other person has lent or obligations he or any other      person has undertaken at the request of or for the benefit of the company      or any of its subsidiaryundertakings; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | a      resolution about giving any guarantee, indemnity or security to another      person for a debt or obligation which is owed by the company or any of its      subsidiary undertakings to that other person if the director has taken      responsibility for some or all of that debt or obligation.  The      director can take this responsibility by giving a guarantee, indemnity or      security; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | a      resolution about giving him any other indemnity where all other directors      are also being offered indemnities on substantially the same      terms; |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | a      resolution about the company funding his expenditure on defending      proceedings or the company doing something to enable him to avoid      incurring such expenditure where all other directors are being offered      substantially the samearrangements; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (v) | a      resolution relating to an offer by the company or any of its subsidiary      undertakings of any shares or debentures or other securities for      subscription or purchase if the director takes part because he is a holder      of shares, debentures or other securities or if he takes part in the      underwriting or sub-underwriting of theoffer; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vi) | a      resolution about a contract in which he has an interest because of his      interest in shares or debentures or other securities of the company or      because of any other interest in or through the  company; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vii) | a      resolution about a contract involving any other company if the director      has an interest of any kind in that company (including an interest by      holding any position in that company or by being a shareholder in that      company).  This does not apply if he knows that he has a      Relevant Interest in that company; |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (viii) | a      resolution about a contract relating to a pension fund, superannuation or      similar scheme or retirement, death or disability benefits scheme or      employees’ share scheme which gives the director benefits which are also      generally given to the employees to whom the fund or scheme      relates; |
|--|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ix) | a      resolution about a contract relating to an arrangement for the benefit of      employees of the company or of any of its subsidiary undertakings which      only gives him benefits which are also generally given to the employees to      whom the arrangement relates; and |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (x) | a      resolution about a contract relating to any insurance which the company      can buy or renew for the benefit of directors or of a group of people      which includes directors. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (K) | A      director will be treated as having a “Relevant Interest” in a company if      he holds an interest in shares representing one per cent. or more of      a class of equity share capital (calculated exclusive of any shares of      that class in that company held as treasury shares) or of the voting      rights of that company.  In relation to an alternate director,      an interest of his appointor shall be treated as an interest of the      alternate director without prejudice to any interest which the alternate      director has otherwise.  Interests which are unknown to the      director and which it is unreasonable to expect him to know about are      ignored. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (L) | Where      a company in which a director has a Relevant Interest is interested in a      contract, the director will also be treated as being interested in that      contract. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (M) | Subject      to these articles, the directors can exercise or arrange for the exercise      of the voting rights attached to any shares in another company held by the      company and the voting rights which they have as directors of that company      in any way that they decide.  This includes voting in favour of      a resolution appointing any of them as directors or officers of that      company and deciding their remuneration.  Subject to these      articles, they can also vote and be counted in the quorum as directors of      the company in connection with any of these  things. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (N) | If      a question comes up at a meeting of the directors about whether a director      (other than the chairman of the meeting) has an interest in a contract and      whether it is likely to give rise to a conflict of interest or whether he      can vote or be counted in the quorum and the director does not agree to      abstain from voting on the issue or not to be counted in the quorum, the      question must be referred to the chairman of the meeting.  The      chairman of the meeting’s ruling about any other director is final and      conclusive unless the nature or extent of the director’s interest (so far      as it is known to him) has not been fairly disclosed to the      directors.  If the question comes up about the chairman of the      meeting, the question shall be decided by a resolution of the      directors.  The chairman of the meeting cannot vote on the      question but can be counted in the quorum.  The directors’      resolution about the chairman of the meeting is conclusive, unless the      nature or extent of the chairman’s interest (so far as it is known to him)      has not been fairly disclosed to thedirectors. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (O) | References      in this article to |
|-----|------------------------------------|

|   | (i) | a      contract include references to an existing or proposed contract and to an      existing or proposed transaction or arrangement whether or not it is a      contract; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | a      conflict of interest include a conflict of interest and duty and a      conflict of duties. |
|--------|------|----------------------------------------------------------------------------------------------------|

| (P) | The      company can by ordinary resolution suspend or relax the provisions of this      article to any extent or ratify any contract which has not been properly      authorised in accordance with thisarticle. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 93. | General      Powers of Company Vested inDirectors |
|-----|---------------------------------------------------|

| (A) | The      directors will manage the company’s business.  They can use all      the company’s powers except where the memorandum, these articles or the      legislation say that powers can only be used by the shareholders voting to      do so at a general meeting.  The general management powers under      this article are not limited in any way by specific powers given to the      directors by other articles. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | The      directors are, however, subjectto:- |
|-----|----------------------------------------------|

|   | (i) | the      provisions of the legislation; |
|--------|-----|-----------------------------------------|

|   | (ii) | the      requirements of the memorandum and these articles;  and |
|--------|------|------------------------------------------------------------------|

|   | (iii) | any      regulations laid down by the shareholders by passing a special resolution      at a general meeting. |
|--------|-------|---------------------------------------------------------------------------------------------------------------|

| (C) | If      a change is made to the memorandum or these articles or if the      shareholders lay down any regulation relating to something which the      directors have already done which was within their powers, that change or      regulation cannot invalidate the directors’ previous    action. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 94. | Borrowing      Powers |
|-----|-----------------------|

| (A) | Subject      as hereinafter provided and subject to the legislation, the directors may      exercise all the powers of the company to borrow money and to mortgage or      charge its undertaking, property and assets (present or future) and      uncalled capital or any part thereof and (subject to the legislation) to      issue debentures and other securities, whether outright or as collateral      security for any debt, liability or obligation of the company or of any      third party. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | The      directors shall restrict the borrowings of the company and exercise all      voting and other rights, powers of control or rights of influence      exercisable by the company in relation to its subsidiary undertakings (if      any) so as to secure (so far, as regards subsidiary undertakings, as by      such exercise they can secure) that the aggregate amount for the time      being remaining outstanding of all monies borrowed by the group and for      the time being owing to persons outside the group less the aggregate      amount of cash (as hereinafter defined) shall not at any time without the      previous sanction of the company in general meeting exceed an amount equal      to one and a half times the adjusted capital and reserves (as hereinafter      defined). |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | For      the purpose of this article: |
|-----|---------------------------------------|

|  | (i)  |  “group”      means the company and its subsidiary undertakings for the time      being; |
|--|-----------|-----------------------------------------------------------------------------------------------------------|

|   | (ii) | “adjusted      capital and reserves” shall mean at any material time a sum equal to the      aggregate amount paid up (or credited as paid up) on the issued or      allotted share capital of the company and the net amount standing to the      credit of the consolidated capital and revenue reserves (including any      share premium account, capital redemption reserve and any profit showing      in the income statement but after deducting any debit balance in the      income statement) of the company and its subsidiary undertakings included      in the consolidation all as shown in the audited balance sheet but      after: |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (a)  | adding      back the amount set aside for deferredtaxation; |
|--|-----------|-------------------------------------------------------------|

|  | (b) | making      such adjustments as may be appropriate in respect of any variation in the      amount of such paid up share capital or share premium account subsequent      to the date of the audited balance sheet and so that for this purpose if      any issue or proposed issue by the company for cash of (i) shares or (ii)      loan stock which is mandatorily convertible into shares within six months      of issue (hereinafter referred to as “short term loan stock”) has been      underwritten then such shares or loan stock shall have been deemed to have      been issued and the amount (including any premium) of the subscription      monies payable in respect thereof (not being monies payable later than six      months after the date of allotment) shall to the extent so underwritten be      deemed to be paid up share capital on the date when the issue of such      shares or short term loan stock (as the case may be) was underwritten (or,      if such underwriting was conditional, on the date when it became      unconditional) and such short term loan stock shall be deemed to be paid      up share capital when it isissued; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (c) | making      such adjustments as may be appropriate in respect of any distribution      declared, recommended or made by the company or its subsidiary      undertakings (to the extent not attributable directly or indirectly to the      company) out of profits earned up to and including the date of the audited      balance sheet to the extent that such distribution is not provided for in      such balance sheet; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (d) | making      such adjustments as may be appropriate in respect of any material      variation in the interests of the company in its subsidiary undertakings      (including a variation whereby an undertaking becomes or ceases to be a      subsidiary undertaking) since the date of the audited balance      sheet; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (e) | if      the calculation is required for the purposes of or in connection with a      transaction under or in connection with which any undertaking is to become      or cease to be a subsidiary undertaking of the company, making all such      adjustments as would be appropriate if such transaction had been carried      into effect; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (f) | excluding      minority interests in subsidiary undertakings to the extent not already      excluded; |
|--|-----|-------------------------------------------------------------------------------------------------------|

|  | (g) | adding      back sums equivalent to the amount of goodwill arising on acquisitions      (whether before or after the date of adoption of these articles) of      companies and businesses remaining within the group at the date of      calculation and which at that date have been written off against reserves      in accordance with United Kingdom generally accepted accounting      principles. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | “monies      borrowed” shall be deemed to include (to the extent that the same would      not otherwise fall to be taken intoaccount): |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (a) | the      principal amount of all debentures allotted or issued (whether or not for      cash) by any member of the group which are not for the time being      beneficially owned by a company within the  group; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (b) | the      outstanding amount of acceptances (not being acceptances of trade bills in      respect of the purchase or sale of goods in the ordinary course of      trading) by any member of the group or by any bank or accepting house      under any acceptance credit opened on behalf of and in favour of any      member of the group; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (c) | the      nominal amount of any allotted or issued and paid up share capital (other      than equity share capital) of any subsidiary undertaking which is a body      corporate of the company not for the time being beneficially owned by      other members of the group; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (d) | the      nominal amount of any other allotted or issued and paid up share capital      and the principal amount of any other debentures or other borrowed moneys      (not being shares or debentures which or borrowed monies the indebtedness      in respect of which is for the time being beneficially owned within the      group) the redemption or repayment whereof is guaranteed (or is the      subject of an indemnity granted) by any member of the    group; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (e) | the      minority proportion of monies borrowed and owing to a partly-owned      subsidiary undertaking by another member of the  group; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|  | (f) | any      fixed amount in respect of a hire purchase agreement or of a finance lease      payable by any member of the group which is to be treated as a liability      in accordance with United Kingdom generally accepted accounting      principles; |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (g) | the      principal amount of any book debts of any member of the group which have      been sold or agreed to be sold, to the extent that any member of the group      is for the time being liable to indemnify or reimburse the purchaser in      respect of any non-payment in respect of such book      debts;   |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (h) | an      amount equal to the monies borrowed or raised by a company which becomes a      subsidiary undertaking and outstanding on the date on which it becomes a      subsidiary undertaking but only for the period of six months from the date      it so becomes a subsidiaryundertaking; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (i) | monies      borrowed from bankers or others for the purpose of financing any contract      up to an amount not exceeding that part of the price receivable under such      contract which is guaranteed or insured by any federal or state agency or      governmental body, or any institution carrying on a similar business or      performing a similar function in any part of the  world; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (j) | the      minority proportion of monies borrowed by a partly-owned subsidiary      undertaking and not owing to another member of the  group; |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------|

|  | (k) | the      amount of any short term loan stock deemed to be paid up share capital      pursuant to paragraph (C)(ii)(b)above; |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------|

|  | (l) | monies      borrowed for the purpose of repaying (with or without premium) within six      months in whole or in part any other monies borrowed either by the      borrowing company or any other member of the group which are for the time      being outstanding pending their application for that purpose within that      period; and      so that: |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (m) | no      amount shall be taken into account more than once in the same calculation      but subject thereto (a) to (l) of this paragraph (iii) shall be read      cumulatively; and |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | (n) | in      determining the amount of any debentures or other monies borrowed or of      any share capital for the purpose of this paragraph (iii) there shall be      taken into account the nominal or principal amount thereof (or, in the      case of partly paid up debentures or shares, the amount for the time being      paid up thereon) together with any fixed or minimum premium payable on      final redemption or repayment provided that if monies are borrowed or      shares are issued on terms that they may be repayable or redeemable (or      that any member of the group may be required to purchase them) earlier      than their final maturity date (whether by exercise of an option on the      part of the issuer or the creditor or a trustee for the creditor or the      shareholder, by reason of a default or for any other reason) at a premium      or discount to their nominal or principal amount, then there shall be      taken into account the amount which would, in accordance with United      Kingdom generally accepted accounting principles, be regarded as payable      on repayment, redemption or purchase of such debentures, monies borrowed      or share capital as at the date of the audited balance    sheet. |
|--|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |  (iv) | in      relation to a partly owned subsidiary undertaking the “minority      proportion” is a proportion equal to the proportion of its issued equity      share capital which is not attributable to the  company. |
|--------|------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | “cash”      means the aggregate of: |
|--------|-----|-------------------------------------------------|

|  | (a) | cash      of the group as would be included in the audited balance      sheet; |
|--|-----|--------------------------------------------------------------------------------|

|  | (b) | to      the extent not already included by virtue of (a) above, sums standing to      the credit of any current or other account of any member of the group with      banks or similar institutions in the United Kingdom or elsewhere to the      extent that remittance of the same to the United Kingdom is not prohibited      by any law, regulation, treaty or official directive or, where remittance      of the same to the United Kingdom is so prohibited, to the extent that the      same may be set off against or act as security for any monies      borrowed; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (c) | to      the extent not already included by virtue of (a) and (b) above, any other      financial asset of the group which would be included in the audited      balance sheet which, in the opinion of the auditors is equivalent to      cash; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | For      the purpose of determining whether the limit imposed by this article has      been exceeded on any particular day, the share capital and reserves of the      group denominated in and the principal amount of any borrowing and cash      expressed in or calculated by reference to a foreign currency shall be      translated for the purpose of calculating the US dollar      equivalent: |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | with      the exception of the excepted foreign currency monies borrowed (as      hereinafter defined), at the rate of exchange prevailing on that day in      London (and so that for this purpose the rate of exchange will be taken as      the middle market rate as at approximately 11.00 am on the relevant day or      if such day is not a business day, the preceding day which is a business      day); |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | in      the case of any excepted foreign currency monies borrowed at the rate of      exchange which would be applicable to such monies borrowed upon their      repayment to the extent that such rate of exchange is specified under any      exchange cover scheme (as hereinafter defined) in connection with such      monies borrowed provided that where it is not possible to determine the      rate of exchange applicable at the time of repayment of any such excepted      foreign currency monies borrowed such monies borrowed shall be converted      into US dollars under the terms of the applicable exchange cover scheme on      such basis as may be agreed or determined by the auditors or, if this is      considered to be impracticable by the auditors, in accordance with the      provisions of (i) above, |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | The      determination of the auditors as to the amount of adjusted capital and      reserves or as to the aggregate amount of monies borrowed falling to be      taken into account for the purposes of compliance with the limit imposed      by this article or as to whether the limit imposed has not been or will      not be exceeded at any time shall be conclusive and binding on all      concerned and for the purposes of their computation the auditors may at      their discretion make such further or other adjustments (if any) as they      think fit.  Nevertheless the directors may act in reliance on a      bona fide estimate of the amount of the adjusted capital and reserves at      any time and if in consequence the limit hereinbefore contained is      inadvertently exceeded an amount of borrowed monies equal to the excess      may be disregarded until the expiration of three months after the date on      which by reason of a determination of the auditors or otherwise the      directors became aware that such a situation has or may have      arisen. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (F) | No      person dealing with the company or any of its subsidiary undertakings      shall be concerned to see or enquire whether the said limit is observed      and no debt incurred or security given in excess of such limit shall be      invalid or ineffectual unless the lender or the recipient of the security      had, at the time when the debt was incurred or security given, express      notice that the said limit had been or would thereby be      exceeded. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 95. | Agents |
|-----|--------|

| (A) | The      directors can appoint anyone as the company’s attorney by granting a power      of attorney or by authorising them in some other way.  Attorneys      can either be appointed directly by the directors or the directors can      give someone else the power to select attorneys.  The directors      or the persons who are authorised by them to select attorneys can decide      on the purposes, powers, authorities and discretions of      attorneys.  But they cannot give an attorney any power,      authority or discretion which the directors do not have under these      articles. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (B) | The      directors can decide how long a power of attorney will last for and attach      any conditions to it.  The power of attorney can include any      provisions which the directors decide on for the protection and      convenience of anybody dealing with the attorney.  The power of      attorney can allow the attorney to grant any or all of his power,      authority or discretion to any otherperson. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | The      directors can:- |
|-----|--------------------------|

|   | (i) | delegate      any of their authority, powers or discretions to any manager or agent of      the company; |
|--------|-----|----------------------------------------------------------------------------------------------------------|

|   | (ii) | allow      managers or agents to delegate to another  person; |
|--------|------|---------------------------------------------------------------|

|   | (iii) | remove      any people they have appointed in any of these ways;  and |
|--------|-------|-----------------------------------------------------------------------|

|   | (iv) | cancel      or change anything that they have delegated, although this will not affect      anybody who acts in good faith who has not had any notice of any      cancellation or change. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | The      ability of the directors to delegate under this article applies to all      their powers and is not limited because certain articles refer to powers      being exercised by the directors or by a committee authorised by the      directors while other articles donot. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 96. | Delegation      to Individual Directors |
|-----|-----------------------------------------|

| (A) | The      directors can give a director any of the powers which they have jointly as      directors (with power to sub-delegate).  These powers can be      given on terms and conditions decided on by the directors either in      parallel with, or in place of, the powers of the directors acting      jointly. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | The      directors can change the basis on which such powers are given or withdraw      such powers.  But if a person deals with an individual director      in good faith without knowledge of the change or withdrawal, he will not      be affected by it. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | The      ability of the directors to delegate under this article applies to all      their powers and is not limited because certain articles refer to powers      being exercised by the directors or by a committee authorised by the      directors while other articles donot. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 97. | Official      Seals The      directors can use all the powers given by the legislation relating to      official seals. |
|-----|------------------------------------------------------------------------------------------------------------------------------|

----

| 98. | Registers The      company can keep an overseas, local or other register.  The      directors can make and change any regulations previously made by them      relating to any of suchregisters. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 99. | Provision      for Employees The      directors can exercise the powers under the legislation to make provision      for the benefit of employees or former employees of the company or any of      its subsidiaries in connection with the cessation or transfer of the whole      or part of the business of the company or that  subsidiary. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 100. | Directors’      Meetings The      directors can decide when and where to have meetings and how they will be      conducted.  They can also adjourn their meetings.  A      directors’ meeting can be called by any director.  The secretary      must call a directors’ meeting if asked to by a  director. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 101. | Notice      of Directors’ Meetings Directors’      meetings are called by giving notice to all the      directors.  Notice is treated as properly given if it is given      personally, by word of mouth or in writing to the director’s last known      address or any other address given by him to the company for this      purpose.  Any director can waive his entitlement to notice of      any directors’ meeting, including one which has already taken place and      any waiver after the meeting has taken place will not affect the validity      of the meeting or any business conducted at the  meeting. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 102. | Quorum If      no other quorum is fixed by the directors, two directors are a      quorum.  Subject to these articles, if a director ceases to be a      director at a directors’ meeting, he can continue to be present and to act      as a director and be counted in the quorum until the end of the meeting if      no other director objects and if otherwise a quorum of directors would not      be present. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 103. | Directors      below Minimum through Vacancies  The      directors can continue to act even if one or more of them stops being a      director.  But if the number of directors falls below the      minimum which applies under these articles (including any change to that      minimum number approved by an ordinary resolution of shareholders), or the      number fixed as the quorum for directors’ meetings, the remaining      director(s) may only act to:- |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | appoint      further director(s) to make up the shortfall;or |
|--------|-----|--------------------------------------------------------------|

|   | (ii) | convene      general meetings. |
|--------|------|--------------------------------|

----

| 104. | Appointment      of Chairman |
|------|------------------------------|

| (A) | The      directors can appoint any director as chairman or as deputy chairman and      can remove him from that office at any time.  If the chairman is      at a directors’ meeting, he will chair it.  In his absence, the      chair will be taken by a deputy chairman, if one is present.  If      more than one deputy chairman is present, they will agree between them who      should chair the meeting or, if they cannot agree, the deputy chairman      longest in office as a director will take the chair.  If there      is no chairman or deputy chairman present within five minutes of the time      when the directors’ meeting is due to start, the directors who are present      can choose which one of them will be the chairman of the      meeting. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | References      in these articles to a deputy chairman include, if no one has been      appointed with that title, a person appointed to a position with another      title which the directors designate as equivalent to the position of      deputy chairman. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 105. | Competence      of Meetings A      directors’ meeting at which a quorum is present can exercise all the      powers and discretions of thedirectors. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 106. | Voting Matters      to be decided at a directors’ meeting will be decided by a majority      vote.  If votes are equal, the chairman of the meeting has a      second, casting vote. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 107. | Delegation      to Committees |
|------|-------------------------------|

| (A) | The      directors can delegate any of their powers or discretions to committees of      one or more persons.  If the directors have delegated any power      or discretion to a committee, any references in these articles to using      that power or discretion include its use by the committee.  Any      committee must comply with any regulations laid down by the      directors.  These regulations can require or allow people who      are not directors to be members of the committee, and can give voting      rights to suchpeople.  But:- |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | there      must be more directors on a committee than persons who are not directors;      and |
|--------|-----|-----------------------------------------------------------------------------------------------|

|   | (ii) | a      resolution of the committee is only effective if a majority of the members      of the committee present at the time of the resolution were      directors. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | Unless      the directors decide not to allow this, any committee can sub-delegate any      of its powers or discretions to sub-committees.  Reference in      these articles to committees include sub-committees permitted under this      article. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | If      a committee consists of more than one person, the articles which regulate      directors’ meetings and their procedure will also apply to committee      meetings (if they can apply to committee meetings), unless these are      inconsistent with any regulations for the committee which have been laid      down under this article. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (D) | The      ability of the directors to delegate under this article applies to all      their powers and discretions and is not limited because certain articles      refer to powers and discretions being exercised by committees authorised      by directors while other articles donot. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 108. | Participation      in Meetings All      or any of the directors can take part in a meeting of the directors by way      of a conference telephone or any communication equipment which allows      everybody to take part in the meeting by being able to hear each of the      other people at the meeting and by being able to speak to all of them at      the same time.  A person taking part in this way will be treated      as being present at the meeting and will be entitled to vote and be      counted in the quorum. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 109. | Resolution      in Writing A      resolution in writing must be signed by all of the directors who at the      time are entitled to receive notice of a directors’ meeting and who would      be entitled to vote on the resolution at a directors’ meeting, and who      together meet the quorum requirement for directors’      meetings.  This kind of resolution is just as valid and      effective as a resolution passed by those directors at a meeting which is      properly called and held.  The resolution can be passed using      several copies of the resolution if each copy is signed by one or more      directors. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 110. | Validity      of Acts of Directors or Committee  verything      which is done by any directors’ meeting, or by a committee of the      directors, or by a person acting as a director, or as a member of a      committee, will be valid even if it is discovered later that any director,      or person acting as a director, was not properly      appointed.  This also applies if it is discovered later that      anyone was disqualified from being a director, or had ceased to be a      director or was not entitled to vote.  In any of these cases,      anything done will be as valid as if there was no defect or irregularity      of the kind referred to in thisarticle. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 111. | Appointment      and Removal of the Secretary Subject      to the legislation, the directors can appoint the secretary for such term      and upon such conditions as they see fit; and any secretary so appointed      can be removed by thedirectors. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 112. | Use      of Seals |
|------|-------------------|

| (A) | The      directors must arrange for every seal of the company to be kept      safely. |
|-----|---------------------------------------------------------------------------------------|

| (B) | A      seal can only be used with the authority of the directors or a committee      authorised by the directors. |
|-----|-------------------------------------------------------------------------------------------------------------------|

| (C) | Subject      as otherwise provided in these articles, every document which is sealed      using the common seal must be signed by one director and the secretary, or      by two directors or by any other person or persons authorised by the      directors. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (D) | Any      document to which the official seal is applied need not be signed, unless      the directors decide otherwise or the legislation requires      otherwise. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | The      directors can resolve that the requirement for any counter-signature in      this article can be dispensed with on any  occasion. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------|

| 113. | Declaration      of Dividends by Company  The      company’s shareholders can declare dividends in accordance with the rights      of the shareholders by passing an ordinary resolution.  No such      dividend can exceed the amount recommended by the    directors. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 114. | Payment      of Interim and Fixed Dividends by Directors If      the directors consider that the financial position of the company      justifies such payments, theycan:- |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | pay      the fixed or other dividends on any class of shares on the dates      prescribed for the payment of those dividends;  and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | pay      interim dividends on shares of any class of any amounts and on any dates      and for any periods which theydecide. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------|

| 115. | Calculation      and Currency of Dividends |
|------|--------------------------------------------|

| (A) | All      dividends will be declared and paid in proportions based on the amounts      paid up on the shares during any period for which the dividend is      paid.  Sums which have been paid up in advance of calls will not      count as paid up for this purpose.  If the terms of any share      say that it will be entitled to a dividend as if it were a fully paid up,      or partly paid up, share from a particular date (in the past or future),      it will be entitled to a dividend on this basis.  This article      applies unless these articles, the rights attached to any shares, or the      terms of any shares, sayotherwise. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | Unless      the rights attached to any shares, the terms of any shares or these      articles say otherwise, a dividend or any other money payable in respect      of a share can be paid in whatever currency the directors decide using an      exchange rate selected by the directors for any currency conversions      required.  The directors can also decide how any costs relating      to the choice of currency will bemet. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 116. | Amounts      Due on Shares can be Deducted from Dividends If      a shareholder owes the company any money for calls on shares or money in      any other way relating to his shares, the directors can deduct any of this      money from any dividend or other money payable to the shareholder on or in      respect of any share held by him.  Money deducted in this way      can be used to pay amounts owed to thecompany. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 117. | No      Interest on Dividends Unless      the rights attached to any shares, or the terms of any shares, say      otherwise, no dividend or other sum payable by the company on or in      respect of its shares carries a right to interest from the      company. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 118. | Payment      Procedure |
|------|------------------------|

| (A) | Any      dividend or other money payable in cash relating to a share can be paid by      sending a cheque, warrant or similar financial instrument payable to the      shareholder who is entitled to it by post addressed to his registered      address. Or it can be made payable to someone else named in a written      instruction from the shareholder (or all joint shareholders) and sent by      post to the address specified in that instruction.  A dividend      can also be paid by inter-bank transfer or by other electronic means      (including payment through CREST) directly to an account with a bank or      other financial institution (or other organisations operating deposit      accounts if allowed by the company) in the United Kingdom named in a      written instruction from the person entitled to receive the payment under      this article.  Alternatively, a dividend can be paid in some      other way requested in writing by the shareholder (or all joint      shareholders) and agreed with thecompany. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | For      joint shareholders or persons jointly entitled to shares by law, payment      can be made to the shareholder whose name stands first in the      register.  The company can rely on a receipt for a dividend or      other money paid on shares from any one of them on behalf of all of      them. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | Cheques,      warrants and similar financial instruments are sent, and payment in any      other way is made, at the risk of the person who is entitled to the      money.  The company is treated as having paid a dividend if the      cheque, warrant or similar financial instrument is cleared or if a payment      is made through CREST, bank transfer or other electronic      means.  The company will not be responsible for a payment which      is lost or delayed. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | Dividends      can be paid to a person who has become entitled to a share by law as if he      were the holder of the share. |
|-----|------------------------------------------------------------------------------------------------------------------------------|

| 119. | Uncashed      Dividends |
|------|-------------------------|

| (A) | The      company can stop sending dividend payments through the post, or cease      using any other method of payment (including payment through CREST), for      any dividend if:- |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | for      two consecutive dividends:- |
|--------|-----|--------------------------------------|

|   | (a) | the      dividend payments sent through the post have been returned undelivered or      remain uncashed during the period for which they are valid;    or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      payments by any other method have failed;or |
|--------|-----|------------------------------------------------------|

|   | (ii) | for      any one dividend:- |
|--------|------|-----------------------------|

----

|   | (a) | the      dividend payment sent through the post has been returned undelivered or      remains uncashed during the period for which it is valid;    or |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      payment by any other method hasfailed, |
|--------|-----|-------------------------------------------------|

| (B) | Subject      to these articles, the company must recommence sending dividend payments      if requested in writing by the shareholder, or the person entitled to a      share by law. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 120. | Forfeiture      of Unclaimed Dividends Where      any dividends or other amounts payable on a share have not been claimed,      the directors can invest them or use them in any other way for the      company’s benefit until they are claimed.  The company will not      be a trustee of the money and will not be liable to pay interest on      it.  If a dividend or other money has not been claimed for 12      years after being declared or becoming due for payment, it will be      forfeited and go back to the company unless the directors decide      otherwise. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 121. | Dividends      Not in Cash If      recommended by the directors, the company can pass an ordinary resolution      that a dividend be paid wholly or partly by distributing specific assets      (and, in particular, paid up shares or debentures of any other      company).  Where any difficulty arises on such a distribution,      the directors can resolve it as they decide.  For example, they      can: |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | authorise      any person to sell and transfer anyfractions; |
|--------|-----|--------------------------------------------------------------|

|   | (ii) | ignore      any fractions; |
|--------|------|----------------------------|

|   | (iii) | value      assets for distribution purposes; |
|--------|-------|----------------------------------------------|

|   | (iv) | pay      cash of a similar value to adjust the rights of shareholders;      and/or |
|--------|------|------------------------------------------------------------------------------------|

|   | (v) | vest      any assets in trustees for the benefit of more than one      shareholder. |
|--------|-----|-------------------------------------------------------------------------------------|

| 122. | Scrip      Dividends The      directors can offer ordinary shareholders (excluding any shareholder      holding shares as treasury shares) the right to choose to receive extra      ordinary shares, which are credited as fully paid up, instead of some or      all of their cash dividend.  Before they can do this,      shareholders must have passed an ordinary resolution authorising the      directors to make this offer. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | The      ordinary resolution can apply to some or all of a particular dividend or      dividends.  Or it can apply to some or all of the dividends      which may be declared or paid in a specified period.  The      specified period must not end later than the fifth anniversary of the date      on which the ordinary resolution ispassed. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | The      directors can also offer shareholders the right to request new shares      instead of cash for all future dividends (if a share alternative is      available), until they tell or are treated as telling the company that      they no longer wish to receive newshares. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | A      shareholder will be entitled to ordinary shares whose total “relevant      value” is as near as possible to the cash dividend he would have received      (disregarding any tax credit), but not more than it.  The      relevant value of a share is the average value of the company’s ordinary      shares for five consecutive dealing days selected by the directors      starting on or after the day when the shares are first quoted “ex      dividend”.  This average value is worked out from the middle      market quotations for the company’s ordinary shares on the London Stock      Exchange as derived from the Daily Official List (or any other publication      of a recognised investment exchange showing quotations for the company’s      ordinary shares) for the relevant dealingdays. |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | The      ordinary resolution can require that the relevant value is worked out in      some different way.  A certificate or report by the auditors      stating the relevant value of a share for any dividend will be conclusive      evidence of that value. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | After      the directors have decided how many new shares ordinary shareholders will      be entitled to, they can notify them in writing of their right to opt for      new shares.  This notice should also say how, where and when      shareholders must notify the company if they wish to receive new      shares.  Where shareholders have opted to receive new shares in      place of all future dividends, if new shares are available, the company      will not need to notify them of a right to opt for new      shares.  No shareholders will receive a fraction of a      share.  The directors can decide how to deal with any fractions      left over.  For example, they can decide that the benefit of      these fractions belongs to the company or that fractions are ignored or      deal with fractions in some otherway. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vi) | If      a notice informing any shareholders of their right to opt for new shares      is accidentally not sent or is not received, the offer will not be invalid      as a result nor give rise to any claim, suit or  action. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vii) | The      directors can exclude or restrict the right to opt for new shares or make      any other arrangements where they decide that this is necessary or      convenient to deal with any of the following legal or practical      problems:- |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | problems      relating to laws of any territory,or |
|--------|-----|----------------------------------------------------|

|   | (b) | problems      relating to the requirements of any recognised regulatory body or stock      exchange in any territory, |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

----

| (viii) | If      a shareholder has opted to receive new shares, no dividend on the shares      for which he has opted to receive new shares (which are called the      “elected shares”), will be declared or payable.  Instead, new      ordinary shares will be allotted on the basis set out earlier in this      article.  To do this, the directors will convert into capital      the sum equal to the total amount of the new ordinary shares to be      allotted.  They will use this sum to pay up in full the      appropriate number of new ordinary shares.  These will then be      allotted and distributed to the holders of the elected shares on the basis      set out above.  The sum to be converted into capital can be      taken from:- |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | any      amount which is then in any reserve or fund (including the share premium      account, any capital redemption reserve and the profit and loss account or      retained earnings); or |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | any      other sum which is available to bedistributed. |
|--------|-----|---------------------------------------------------------|

|   | (ix) | The      new ordinary shares will rank equally in all respects with the existing      fully paid up ordinary shares at the time when the new ordinary shares are      allotted.  But, they will not be entitled to share in the      dividend from which they arose, or to have new shares instead of that      dividend. |
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|   | (x) | The      directors can decide that new shares will not be available in place of any      cash dividend.  They can decide this at any time before new      shares are allotted in place of such dividend, whether before or after      shareholders have opted to receive newshares. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (xi) | The      directors can decide how any costs relating to making new shares available      in place of a cash dividend will be met.  For example, they can      decide that an amount will be deducted from the entitlement of a      shareholder under this article. |
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|   | (xii) | Unless      the directors decide otherwise or unless the uncertificated securities      rules require otherwise, any new ordinary shares which a shareholder has      chosen to receive instead of some or all of his cash dividend will      be:- |
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|   | (a) | CREST      shares if the corresponding elected shares were CREST shares on the record      date for that dividend; and |
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|   | (b) | certificated      shares if the corresponding elected shares were certificated shares on the      record date for that dividend. |
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|  | (xiii) | The      directors may not proceed with any election unless the company has      unissued shares authorised for issue and sufficient reserves or funds that      may be capitalised to give effect to it after the basis of allotment is      determined. |
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| 123. | Power      to Capitalise Reserves andFunds |
|------|--------------------------------------------|

| (A) | If      recommended by the directors, the company’s shareholders can pass an      ordinary resolution to capitalise anysum:- |
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|   | (i) | which      is part of any of the company’s reserves (including premiums received when      any shares were issued, capital redemption reserves or other      undistributable reserves); or |
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|   | (ii) | which      the company is holding as netprofits. |
|--------|------|--------------------------------------------------|

| (B) | Unless      the ordinary resolution states otherwise, the directors will use the sum      which is capitalised by setting it aside for the ordinary shareholders on      the register at the close of business on the day the resolution is passed      (or another date stated in the resolution or fixed as stated in the      resolution) and in the same proportions as the ordinary shareholders’      entitlement to dividends (or in other proportions stated in the resolution      or fixed as stated in the resolution).  The sum set aside can be      used:- |
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|   | (i) | to      pay up some or all of any amount on any issued shares which has not      already been called, or paid in advance;or |
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|   | (ii) | to      pay up in full unissued shares, debentures or other securities of the      company which would then be allotted and distributed, credited as fully      paid, to shareholders. |
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| (C) | The      directors can appoint any person to sign a contract with the company on      behalf of those who are entitled to shares, debentures or other securities      under the resolution.  Such a contract is binding on all      concerned. |
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| 124. | Settlement      of Difficulties in Distribution If      any difficulty arises in connection with any distribution of any      capitalised reserve or fund, the directors can resolve it in any way which      they decide.  For example, they can deal with entitlements to      fractions by deciding that the benefit of fractions belong to the company      or that fractions are ignored or deal with fractions in some other      way. |
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| 125. | Power      to Choose Any Record Date This      article applies to any dividend on any shares, or any distribution,      allotment or issue to the holders of any shares.  This can be      paid or made to the registered holder or holders of the shares, or to      anyone entitled in any other way, at a particular time on a particular day      selected by the directors.  It will be based on the number of      shares registered at that time on that day, even if this is before any      resolution to authorise what is being done was passed.  This      article applies whether what is being done is the result of a resolution      of the directors, or a resolution at a general meeting.  The      time and date can be before the dividend and so on is to be paid or made,      or before any relevant resolution waspassed. |
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| 126. | Inspection      of Records A      shareholder is not entitled to inspect any of the company’s accounting      records or other books or papersunless:- |
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|   | (i) | the      legislation or a proper court order gives him that  right; |
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|   | (ii) | the      directors authorise him to do so;or |
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|   | (iii) | the      shareholders authorise him to do so by ordinary  resolution. |
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| 127. | Summary      Financial Statements The      company can send or supply summary financial statements to its      shareholders instead of copies of its full reports and      accounts. |
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| 128. | Method      of Service |
|------|------------------------|

| (A) | The      company can send or supply any notice, document, including a share      certificate, or other information to a  shareholder:- |
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|   | (i) | by      delivering it to him personally; |
|--------|-----|------------------------------------------|

|   | (ii) | by      addressing it to him and posting it to, or leaving it at, the      shareholder’s registered address; |
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|   | (iii) | through      CREST, where it relates to CRESTshares; |
|--------|-------|------------------------------------------------------|

|   | (iv) | as      authorised in writing by the relevant  shareholder; |
|--------|------|-------------------------------------------------------------|

|   | (v) | where      appropriate, by sending or supplying it in electronic form to an address      notified by the relevant shareholder to the company for that purpose;      or |
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|   | (vi) | where      appropriate, by making it available on a website and notifying the      shareholder of its availability in accordance with this      article. |
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| (B) | Where      there are joint shareholders, anything which needs to be agreed or      specified in relation to any notice, document or other information to be      sent or supplied to them can be agreed or specified by any one of the      joint shareholders.  The agreement or specification of the      senior will be accepted to the exclusion of the agreement or specification      of the other joint shareholder(s).  For this purpose, seniority      will be determined by the order in which the joint shareholders’ names      stand in the register in respect of the joint  shareholding. |
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| (C) | If      on three consecutive occasions any notice, document or other information      sent or supplied to a shareholder has been returned undelivered, the      company need not send or supply further notices, documents or other      information to that shareholder until he has communicated with the company      and supplied the company (or its agents) with a new registered address, or      a postal address within the United Kingdom for the service of notices and      the despatch or supply of documents and other information, or has informed      the company of an address for the service of notices and the sending or      supply of documents and other information in electronic      form.  Any notice, document or other information sent by post      will be treated as returned undelivered if the notice, document or other      information is sent back to the company (or its agents), and any notice,      document or other information sent or supplied in electronic form will be      treated as returned undelivered if the company (or its agents) receives      notification that the notice, document or other information was not      delivered to the address to which it wassent. |
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| (D) | The      company may at any time and in its sole discretion choose to serve, send      or supply notices, documents or other information in hard copy form alone      to some or all members. |
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| 129. | Record      Date for Service Where      the company sends or supplies notices, documents or other information to      shareholders, it can do so by reference to the shareholders’ register as      it stands at any time not more than 15 days before the date the notice,      document or other information is sent or supplied.  Any change      of details on the register after that time will not invalidate the sending      or supply and the company is not obliged to send or supply the same      notice, document or other information to any person entered on the      shareholders’ register after the date selected by the    company. |
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| 130. | Members      Resident Abroad or on BranchRegisters |
|------|----------------------------------------------------|

| (A) | If      a shareholder’s address on the register is outside the United Kingdom, he      can give the company a United Kingdom postal address to which notices,      documents or other information can be sent or supplied to      him.  If he does, he is entitled to have notices, documents or      other information sent to him at that address or, where applicable, to be      notified at that address of the availability of the notice, documents or      other information on a website.  Alternatively, a shareholder      whose address on the register is outside the United Kingdom can give the      company an address for the purposes of communications in electronic      form.  If he does, notices, documents or other information may,      subject to these articles, be sent or supplied to him at that      address.  Otherwise, he is not entitled to receive any notices,      documents or other information from thecompany. |
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| (B) | For      a shareholder registered on a branch register, notices, documents or other      information can be posted or despatched in the United Kingdom or in the      country where the branch register iskept. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 131. | Service      of Notices on Persons Entitled by Transmission  This article applies      where a shareholder has died or become bankrupt or is in liquidation, or      where someone else has otherwise become entitled by law to that      shareholder’s shares, but is still registered as a      shareholder.   |
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| 132. | Deemed      Delivery |
|------|----------------------|

| (A) | If      any notice, document or other information is given, sent or supplied by      the company by post, it is treated as being received the day after it was      posted if first class post was used or 48 hours after it was posted if      first class post was not used.  In proving that any notice,      document or other information was given, sent or supplied, it is      sufficient to show that the envelope was properly addressed and put into      the postal system with postagepaid. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | If      any notice, document or other information is left by the company at a      shareholder’s registered address or at a postal address notified to the      company in accordance with these articles by a shareholder or a person who      is entitled to a share by law, it is treated as being received on the day      it was left. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | If      a notice is sent through CREST, it is treated as being received when the      company, or any CREST participant acting for the company, sends the      issuer-instruction relating to the notice, document or other      information. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | If      any notice, document or other information is given, sent or supplied by      the company using electronic means, it is treated as being received on the      day it was sent even if the company subsequently sends a hard copy of such      notice, document or other information by post.  In the case of      any notice, document or other information made available on a website, the      notice, document or other information is treated as being received on the      day on which the notice, document or other information was first made      available on the website, or, if later, when a notice of availability is      received or treated as being received by the shareholder in accordance      with these articles.  In proving that any notice, document or      other information was given, sent or supplied by electronic means, it is      sufficient to show that it was properly  addressed. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E) | If      any notice, document or other information is given, sent or supplied by      the company by any other means authorised in writing by a shareholder, it      is treated as being received when the company has done what it was      authorised to do by thatshareholder. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 133. | Notice      When Post Not Available If      there is a suspension or curtailment of postal services within the United      Kingdom or some part of the United Kingdom, the company need only give      notice of a general meeting to those members with whom the company can      communicate by electronic means and who have provided the company with an      address for this purpose.  The company shall also advertise the      notice in at least one newspaper with a national circulation and make it      available on its website from the date of such advertisement until the      conclusion of the meeting or any adjournment thereof.  If at least      six clear days prior to the meeting the sending or supply of notices by      post in hard copy form has again become generally possible, the company      shall send or supply confirmatory copies of the notice by post to those      members who would otherwise receive the notice in hard copy      form. |
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| 134. | Presumptions      Where Documents Destroyed |
|------|---------------------------------------------|

| (A) | The      company can destroy ordelete:- |
|-----|-----------------------------------------|

|   | (i) | all      transfer forms or Operator-instructions transferring shares, and documents      sent to support a transfer, and any other documents which were the basis      for making an entry by the company on the register, after six years from      the date of registration; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | all      dividend and other payment instructions and notifications of a change of      address or name, after two years from the date these were      recorded; |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | all      cancelled share certificates, after one year from the date they were      cancelled; and |
|--------|-------|---------------------------------------------------------------------------------------------------|

|   | (iv) | all      proxy forms after one year from the date they were used if they were used      for a poll, or after one month from the end of the meeting to which they      relate if they were not used for apoll. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | If      the company destroys or deletes a document under this article, it is      conclusively treated as having been a valid and effective document in      accordance with the company’s records relating to the      document.  Any action of the company in dealing with the      document in accordance with its terms before it was destroyed or deleted      is conclusively treated as having been properly  taken. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | This      article only applies to documents which are destroyed or deleted in good      faith and where the company is not on notice of any claim to which the      document may be relevant. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D) | If      the documents relate to CREST shares, the company must comply with any      requirements of the uncertificated securities rules which limit its      ability to destroy thesedocuments. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (E) | This      article does not make the company liableif:- |
|-----|--------------------------------------------------------|

|   | (i) | it      destroys or deletes a document earlier than the time limit referred to in      paragraph      (A); |
|--------|-----|------------------------------------------------------------------------------------------------------------|

|   | (ii) | it      does not comply with the conditions in paragraph (C);      or |
|--------|------|-----------------------------------------------------------------------|

|   | (iii) | the      company would not be liable if this article did not  exist. |
|--------|-------|----------------------------------------------------------------------|

| (F) | This      article applies whether a document is destroyed or deleted or disposed of      in some other way. |
|-----|-------------------------------------------------------------------------------------------------------------|

| 135. | Indemnity      of Directors |
|------|-----------------------------|

| (A) | As      far as the legislation allows this, the  company:- |
|-----|------------------------------------------------------------|

|   | (i) | can      indemnify any director of the company or of any associated company against      any liability; and |
|--------|-----|-------------------------------------------------------------------------------------------------------------|

|   | (ii) | can      purchase and maintain insurance against any liability for any director of      the company or of any associatedcompany. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------|

| (B) | A      director of the company or of any associated company will not be      accountable to the company or the shareholders for any benefit provided      pursuant to this article.  Anyone receiving such a benefit will      not be disqualified from being or becoming a director of the      company. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| · | has      a majority of the votes in the company, either alone or acting with      others; |
|--------|-------------------------------------------------------------------------------------------|

| · | is      a shareholder who can appoint or remove a majority of the directors;      or |
|--------|--------------------------------------------------------------------------------------|

| · | can      exercise dominant      influence over the company because of anything in the company’s memorandum      or articles or because of a certain kind of  contract. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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