Change of Adviser

 29 June 2012

 Change of Financial Adviser and Corporate Broker

The Company wishes to announce that with effect from 1 August 2012, Winterflood Investment Trusts (a division of Winterflood Securities Limited) will be appointed as the Company's Corporate Broker and Financial Adviser.

 Following publication of the circular on 21 June 2012 containing the Notice convening the Company's Annual General Meeting and details of a proposed waiver of the Rule 9 provisions of the City Code on Takeovers and Mergers the Company confirms that it will not be using its share buyback authority until after the conclusion of the Annual General Meeting on 25 July 2012.

Enquiries:

 BNP Paribas Fund Services (Guernsey) Limited 01481 750858

Company Secretary

Sara Bourne