Dorrington Investment P L C

—

PAYMENT OF THE PRINCIPAL AMOUNT OF AND I NTEREST IN (A) £4,750,000 11% FIRST MORT GAGE DEBENTURE STOCK 2011 OF DORRINGTON INVESTMENT PLC (B) £1,250,000 11% FIRST MORTGAGE DEBENTURE STOCK 2011 OF DORRING TON INVESTMENT PLC (C) £4,300,00 12.25% FIRST MORTGAGE DEBENTURE STOCK 2008 OF D ORRINGTON INVESTMENT PLC AND ALL OTHER M ONEY INTENDED TO BE SECURED BY A TRUST D EED DATED 19 AUGUST 1986

All monies

THE PRINCIPAL AMOUNT OF £6,000,000 (IN A GGREGATE) 11% FIRST MORTGAGE STOCK 2011 OF THE COMPANY AND £4,300,000 12 1/4 % F IRST MORTGAGE DEBENTURE STOCK OF THE COM PANY AND ALL OTHER MONEYS UNDER THE TERM S OF THE PRINCIPAL TRUST DEED AND DEEDS SUPPLEMENTAL THERETO

£2,200,000 AND ALL OTHER MONEYS DUE O R TO BECOME DUE FROM HANOVEL ACCEPTANCES LIMITED TO SUN LIFE ASSURANCE COMPANY O F CANADA UNDER THE TERMS OF THE CHARGE

All monies

£1,250,000

All monies

All monies

All monies

All monies

EFFECTING SUBSTITUTION OF SECURITY FOR S ECURING THE MONIES SECURED BY A CHARGE DATED 12/12/62

£8430 AND ALL OTHER SUMS OWING BY DOR RINGTON INVESTMENT CO LTD

MORTGAGE FOR FURTHER SECURING ADVANCES N OT EXCEEDING £50,000 TO THE COMPANY OR I TS SUBSIDIARIES TOGETHER WITH A PREMIUM OF £3750 PAYABLE THEREON IN CERTAIN EVEN TS INCLUSIVE OF £20,000 ADVANCED TO PORT MAN ESTATES LTD AND £2750 ADVANCED TO HI GHCROFT ESTATES LTD SECURED BY TWO CHARG ES BOTH DATED 9TH MAY 1961