WILLOW TREE CHILDREN'S SERVICES LTD

Funding Your Invoice LTD

All freehold and leasehold land and buildings of the company both present and future including any land and buildings specified in the debenture schedule and all trade fixtures and fittings and all plant and machinery from time to time in or on any such land or buildings; and all intellectual property now owned or at any time hereafter to be owned by the company.