MALBAT LIMITED

National Westminster Bank PLC

Fixed charge over the following property of malbat limited, owned now or in the future: all land vested in or charged to malbat limited, all fixtures and fittings attached to that land and all rents receivable from any lease granted out of that land. References to land are to any interest in heritable, freehold or leasehold land; all plant and machinery, including any associated warranties and maintenance contracts; all the goodwill of malbat limited's business; any uncalled capital; all stock, shares and other securities held malbat limited at any time in any subsidiary and all income and rights relating to those stocks, shares and securities. A subsidiary is an entity controlled, directly or indirectly, by malbat limited or by a subsidiary of malbat limited. "Control" means the ability to appoint or remove directors or exercise the majority of voting rights, alone or with the agreement of others; all intellectual property, licences, claims, insurance policies, proceeds of any insurance and any other legal rights; the benefit of any hedging arrangements, futures transactions or treasury instruments.