Notice of Intended Dividends

ARTS PUBLISHING INTERNATIONAL LIMITED

(In Company Voluntary Arrangement) Notice is hereby given of our intention to declare a First Interim Dividend to the non-preferential Creditors of the above-named Company who, not already having done so, are required, on or before 23 August 2004, to send their proofs of debt to Paul Michael Davis and Timothy John Edward Dolder, the Joint Supervisors of the said Company, at Begbies Traynor, 32 Cornhill, London EC3V 3LJ, and, if so requested, to provide such further details or produce such documentary or other evidence as may appear to the Supervisors to be necessary. A Creditor who has not proved his debt by the date specified will be excluded from the Dividend, which we intend to declare within 4 months of that date. P M Davis, Joint Supervisor 29 July 2004.