Balance Sheet at 31 March 2000

Signed            3 August 2000             John F. Kearney,    Chairman
                                                      Ian Cuthbertson,     Finance Director

Profit and Loss Account for the year ended 31 March 2000

The group has no recognised gains or losses other than the losses shown above and therefore no separate statement of total recognised gains and losses has been presented.

There is no difference between the loss on ordinary activities before taxation and the retained loss for the year stated above, and their historical cost equivalents.