IMPORT EXPORT SERVICES LTD

Morgan Lloyd Trustees Limited as Trustee of Ies Pension Scheme

1. charges to the pension scheme, by way of first legal mortgage, all real properties whether registered or unregistered;. 2. charges to the pension scheme, by way of first fixed charge:. A. all properties acquired by the borrower in the future;. B. all present and future interests of the borrower not effectively mortgaged or changed under the preceding provisions of this clause, or over, freehold or leasehold property;. C. all present and future rights, licences, guarantees, rents, deposits, contracts, covenants and warranties relating to the properties;. D. all licences, consents and authorisations (statutory or otherwise) held or required in connection with the borrower’s business or the use of any charged property, and all rights in connection with them;. E. all present and future goodwill and uncalled capital for the time being of the borrower;. F. all of the equipment. G. all of the intellectual property and all fees and royalties delivered from, or incidental to, the intellectual property;. H. all the book debts. I. Alt the investments; and. J. all monies from time to time standing to the credit of its accounts with any bank, financial institution or other person.. 3. assigns to the pension scheme, by way of first fixed charge, all its rights in any policies of insurance or assurance present or future (including, without limitation, any insurances relating to the properties or the equipment).

MATTHEW BOYD AS TRUSTEE OF IES PENSION SCHEME MORGAN LLOYD TRUSTEES LIMITED AS TRUSTEE OF IES PENSION SCHEME NEILS MORCH MONSTED AS TRUSTEE OF IES PENSION SCHEME

Matthew Boyd as Trustee of Ies Pension Scheme

NATIONAL WESTMINSTER BANK PLC

ULTIMATE TRAE FINANCE LTD

ULTIMATE FINANCE LIMITED

DEBENTURE

TOM WALKER AND MOIRA WALKER

DEBENTURE

Ultimate Finance Limited

Fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery see image for full details.

NATIONAL WESTMINSTER BANK PLC

THIRD PARTY CHARGE OF DEPOSIT

National Westminster Bank PLC

The deposit initially of £68,000 credited to account designation number 90045289 with the bank and any addition to that deposit and any deposit or account from time to time of any other currency description or designation which derives in whole or in part from such deposit or account.

NATIONAL WESTMINSTER BANK PLC

DEBENTURE