R.C. BROWN INVESTMENT MANAGEMENT PLC   OUR STRENGTHS   Our personal service is backed up by the depth of experience and expertise. The Chairman, Investment Manager and Managing Director have more than 90 years investment experience between them. Nothing of importance is delegated. The emphasis on quality and predictability ensures that we receive fewer shocks than the average investment manager. Our Chairman's City training was augmented by working as an inhouse manager of an industrial company's pension fund. He uses industrialists' eyes as well as City experience when considering investment opportunities. Most purchases are made in the wholesale markets. We prefer to make good returns for our clients using longstanding relationships with the City and companies rather than to play the sterile game of pitting our wits against other clever investors by buying shares in the secondary market. As a small investment house we have greater flexibility because our normal dealing size is more easily accommodated by the market. When appropriate our clients benefit from our market position in the placing, new issue and sub-underwriting lists of the major brokers. Our Chairman has been reading prospectuses for thirty years and we see most of the companies brought to the London market by the major issuing houses. Our activity frequently helps UK companies raise capital and is therefore of real economic benefit as well as being profitable to our clients.

R.C. BROWN INVESTMENT MANAGEMENT PLC is authorised and regulated by the Financial Services Authority. Registered number: 2489639 Head Office and Registered Office: Buchanans North, Redcliff Backs, Bristol, BS1 6HN Telephone: 0117 925 6073 Fax: 0117 925 3790 Email: alanc@rcbim.co.uk