BARING STRATTON INVESTMENT TRUST PLC

At an Extraordinary General Meeting of the above-named Company held on 20th February 1998, the following Special Resolution was passed:   “That the Company be wound up voluntarily, and Christopher John Barlow and Christoper John Hughes (the “Liquidators”), both of Coopers & Lybrand, Plumtree Court, London EC4A 4HT, be and they are, hereby appointed Joint Liquidators for the purposes of such winding-up, and any power conferred on them by law or by this Resolution may be exercised by them jointly and severally for the purpose of such winding-up.” The Rt. Hon. Lord Ashburton, Chairman