PICARDY MEDIA GROUP PLC

(In Receivership)

Registered Office: 1 Park Circus, Glasgow G3 6AX

Trading Address: 27 Park Circus, Glasgow

Pursuant to Section 65(1)(a) of the Insolvency Act 1986, we D D McGruther and Matthew P Henderson of Grant Thornton, Chartered Accountants, Grant Thornton, 95 Bothwell Street, Glasgow, G2 7JZ, give notice that, on 30th January 2003, we were appointed as joint receivers of the above company.

The property over which I was appointed as receiver is the whole or substantially the whole of the company’s property.

Pursuant to section 59(2) of the said Act, preferential creditors are required to lodge their claims with me within six months of the date of this Notice.

D D McGruther, Joint Receiver

Matthew P Henderson, Joint Receiver

Grant Thornton, Chartered Accountants, 95 Bothwell Street, Glasgow G2 7JZ