Meeting of Creditors

CALEDONIAN INDEPENDENT SCOTTISH FINANCIAL SERVICES LIMITED

(the Company)

Notice is hereby given that by an Order dated 5th January 2004 made in the Sheriff Court, Hamilton, Meetings were ordered to be summoned of (a) the Members of the Company and (b) the Creditors of the company for the purpose of considering and, if so resolved, approving with or without modification, the Scheme of Arrangement pursuant under Section 425 of the Companies Act 1985 to transfer all of the trade, assets and liabilities of the company to Caledonian Financial Services (Scotland) Limited with effect from close of business on 30th September 2003.

The meetings will be held in the Company’s Registered Office at 1-2 Scott Street, Motherwell, Lanarkshire ML1 1PN on Monday 16th February 2004, the meeting of Members shall be held at 9.30 am and the meeting of Creditors at 10.00am.

Copies of the Scheme of Arrangement, Minute of Agreement between Caledonian Financial Services (Scotland) Limited and the Company and the forms or proxy for use at the Meeting are being sent to all Members and all Creditors. If any person entitled to attend the Meeting has not received the documents by 6th February 2004 copies can be obtained from the Company Secretary at the Registered Office noted above.

G MacNicol, Company Secretary