The following notice is in substitution for that which appeared on page 14306 of The London Gazette dated 11 November 2004:

IPS HOLDINGS LIMITED

Pursuant to section 175 of the Companies Act 1985 (CA 1985), IPS Holdings Limited (Company) gives notice that: 1. the Company approved by Special Resolution passed on 5 November 2004, pursuant to section 173 CA 1985, a payment out of capital for the purpose of acquiring 528,064 of its own A ordinary shares by purchase; 2. The amount of permissible capital payment for the shares in question is £1,316,733; 3. The Statutory Declaration of the Directors and the Auditor’s report, required by section 173 CA 1985 are available for inspection at the Company’s registered office at Lloyd’s Avenue House, 6 Lloyd’s Avenue, London EC3N 3ES; 4. Any Creditor the Company may at any time, prior to 10 December 2004, apply to the Court under section 176 CA 1985 for an Order prohibiting the payment. A Charlesworth, Company Secretary 5 November 2004.