THE ELECTRICAL SITE LTD

Investec Capital Solutions Limited

1. by way of fixed charge ("the fixed charge"): (I) all freehold and leasehold land and buildings of the company both present and future including any land and buildings specified in section 2 of the schedule and all trade fixtures and fittings and all plant and machinery from time to time in or on any such land or buildings; (ii) all intellectual property now owned or at any time hereafter to be owned by the company.

Sme Invoice Finance Limited