Meetings of Creditors

ENGLISH & AMERICAN INSURANCE COMPANY LIMITED

NOTICE OF ANNUAL MEETING OF SCHEME CREDITORS

The Annual Meeting of Scheme Creditors of English & American Insurance Company Limited (“the Company”) has been summoned by the Scheme Administrators, pursuant to Clause 8.1 of the Scheme of Arrangement for the purposes of: 1. Receiving a report (“the Report”) on the conduct of the affairs of the Company and the operation of the Scheme of Arrangement since 30th April 1999, the date of the last report to Scheme Creditors; and 2. Considering and, if thought fit, passing the following Resolution: That the appointment of Thomas Alexander Riddell, a Licensed Insolvency Practitioner and a Partner in the firm of chartered accountants KPMG, 20 Farringdon Street, London EC4A 4PP, as Scheme Administrator of the Company by the Creditors’ Committee on 22nd October 1999, be ratified. The Meeting will be held at The Ostler Suite, The Insurance Hall, 20 Aldermanbury, London EC2V 7HY, on 5th July 2000, at 10.30 a.m. (London time). This Meeting will immediately follow Meetings of Scheme Creditors to consider and, if thought fit, approve an Amending Scheme of Arrangement between the Company and its Scheme Creditors. Creditors are being notified of these Meetings separately. The Chairman of the Meetings will be Anthony James McMahon, one of the Scheme Administrators. Scheme Creditors may attend and vote at the Meeting either in person or by proxy and are, in any event, requested to complete the form of proxy and return it to the Scheme Administrators in the United Kingdom, at KPMG, 20 Farringdon Street, London EC4A 4PP, by 5 p.m. (London time), on 3rd July 2000, although if not so returned, they may be handed in between 9.30 a.m. and 10.30 a.m. on the day of the Meeting. Each Scheme Creditor or his proxy will be required to register his attendance at the Meeting prior to its commencement. Registration will commence at 9.30 a.m. A copy of the Report, a registration form and a form of proxy for use at the Meeting are being sent to Scheme Creditors. Any person entitled to attend the Meetings who has not received these documents by 7th June 2000, can obtain copies of them from the Scheme Administrators of the Company in the United Kingdom, at KPMG, 20 Farringdon Street, London EC4A 4PP, or in the United States of America, at KPMG, 345 Park Avenue, New York, New York 10154-0102. Queries regarding Creditors’ claims and the completion of proxy forms should be directed to the helpline on +44 (0) 1452 782600. A. J. McMahon, Scheme Administrator 1st June 2000.(494)