ANODIC MACHINING TECHNOLOGIES LIMITED

THE ROYAL BANK OF SCOTLAND PLC AS SECURITY TRUSTEE FOR ITSELF AND THE OTHER SECURED PARTIES(THE SECURITY AGENT)

DEBENTURE

THE LAW DEBENTURE TRUST CORPORATION P.L.C.,AS SECURITY AGENT AND TRUSTEE FOR THE FINANCEPARTIES

A SUPPLEMENTAL COMPOSITE GUARANTEE AND DEBENTURE BETWEEN THE COMPANY,DONCASTERS LIMITED ("DONCASTERS") AND THE SECURITY AGENT (THE "SUPPLEMENTAL DEED"). THE SUPPLEMENTAL DEED IS SUPPLEMENTAL TO A COMPOSITE GUARANTEE AND DEBENTURE DATED 20 AUGUST 2001 MADE BETWEEN,AMONGST OTHERS,THE COMPANY,DONCASTERS AND THE SECURITY AGENT (THE "DEBENTURE")

THE LAW DEBENTURE TRUST CORPORATION P.L.C. (THE "SECURITY AGENT")

A COMPOSITE GUARANTEE AND DEBENTURE

CREDIT SUISSE FIRST BOSTON(AS AGENT AND TRUSTEE FOR ITSELF AND EACH OF THE LENDERS)

DEBENTURE