Court of Session

Petition of

Ivory & Sime Optimum Income Trust plc

For Confirmation of Reduction of Share Premium Account

Notice is hereby given that a petition was presented to the Court of Session on 8th November 2002 by Ivory & Sime Optimum Income Trust plc, a public limited company incorporated under the Companies Acts, and having its registered office at One Charlotte Square, Edinburgh EH2 4DZ. The following order was pronounced on 13th November 2002 in terms of the petition:

“The Lord Ordinary, having considered the Petition, appoints the Petition to be intimated on the Walls in common form; appoints the Petitioners to give notice of the dependence of the Petition by advertisement once, in each of the Edinburgh Gazette and Scotsman newspapers: allows any party claiming an interest, to lodge Answers thereto, if so advised, within twenty-one days after intimation and advertisement.”

Of which intimation is hereby given.

Shepherd & Wedderburn

Saltire Court, 20 Castle Terrace, Edinburgh EH1 2ET

Solicitors for the Petitioner