LS ELECTRONICS GROUP LIMITED

Hsbc UK Bank PLC

A legal assignment of contract monies.

HSBC BANK PLC

LEGAL ASSIGNMENT

Hsbc Bank PLC

Any credit balance due to the company under condition 13 of the agreement for the purchase of debts and any discounting allowance due under the contract the benefit of all the other provisions of the contract and all securities in respect of that credit balance.

HSBC INVOICE FINANCE (UK) LTD (THE SECURITY HOLDER)

FIXED CHARGE ON NON-VESTING DEBTS AND FLOATING CHARGE

Hsbc Invoice Finance (UK) LTD (the Security Holder)

By way of first fixed charge all debts and all export debts purportedly assigned to the security holder pursuant to the debt purchase agreement. All associated rights relating to any non-vesting domestic debts and non-vesting export debts. By way of first fixed charge the excluded proceeds and by way of first floating charge all present and future assets undertaking and all other property and assets see image for full details.

HSBC BANK PLC

DEBENTURE

Hsbc Bank PLC

Fixed and floating charges over the undertaking and all property and assets present and future including goodwill bookdebts uncalled capital buildings fixtures fixed plant and machinery.