• Notice of a Special General Meeting in Bermuda on 18th February 2010 to amend the Rules for the 2010 policy year.
• The proposed Rule change addresses potential risks to the Club from government sanctions or prohibitions which materially affect the Club.
• The amendment is recommended by the Board to protect the Club in the context of recent Bermudian legislation.

ACTION

• Proxy forms completed for Members' signature can be downloaded from the UK Club website (www.ukpandi.com)
• Signed proxy forms can be scanned & emailed to the Secretary david.hunter@thomasmiller.com or alternatively faxed to him at +1 44 1292 3694
• Completed proxy forms should be with the Secretary at least 12 hours before the meeting on 18th February 2010.

TO THE MEMBERS

Dear Sirs

SPECIAL GENERAL MEETING - PROPOSED AMENDMENTS TO CLUB RULES

At its meeting on 1st February 2010, the Board considered the terms of the Anti-Terrorism (Financial and Other Measures) Amendment Act 2009, which came into effect in Bermuda on 15th January 2010, and the potential risks to the Association associated with any prohibition which might be imposed on the Association under such legislation.

In view of the imminent commencement of the 2010 Policy Year and in order to protect the Association, the Board has convened a Special General Meeting, notice of which is set out below.

The Board recommends the adoption of the amendment to the Rules set out in the Resolution as a precautionary measure for the 2010 Policy Year only, while the Board obtains further advice as to how best to protect the interests of the Association and all its Members including those who may be impacted by any such action.

The terms of the Resolution make it clear that this new Rule is to be effective for the 2010 Policy Year only, pending consideration of further amendments to the Rules from 20th February 2011. The power to terminate an Owner's insurance under the new Rule is exercisable by the Directors and it is intended by the Board that this power should be exercised by the Board and not be delegated to the Managers or any Committee of the Board.

The Board is conscious of the inconvenience to the Members of an amendment to the Rules so close to the beginning of new Policy Year, but believes that the adoption of this new Rule is advisable for the protection of the Association.

Yours faithfully

THOMAS MILLER (BERMUDA) LTD.

CONTACT

• Members requiring further details should contact Dr. Chao Wu chao.wu@thomasmiller.com +44 20 7204 2157)

NOTICE

Notice of a Special General Meeting of The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited.

Notice is hereby given that a Special General Meeting of the Members of the Association will be held at 10.00 am on Thusday, 18th February 2010 at the offices of Thomas Miller (Bermuda) Ltd, Chevron House, 11 Church Street, Bermuda, for the purpose of considering and, if thought fit, passing the resolution set out below:

Resolution to propose:

"That with effect from 12 noon Greenwich Mean Time on 20th February 2010, the amendment to the Rules set out below be and is hereby adopted for the 2010 Policy Year only"

Re-number existing Rule 5(J) as Rule 5(J)(i).

Amend Rule 5(J) by addition of a new paragraph (ii) in bold type below:

Rule 5(J)(ii)

Notwithstanding, and without prejudice to, any other provisions of these Rules, the Directors may terminate the insurance of an Owner in respect of any and all ships entered by him where, in the opinion of the Directors, the Owner has exposed or will expose the Association to a material risk of being or becoming subject to a sanction, prohibition, restriction or other adverse action by a competent authority or government, which may materially affect the Association.

By Order of the Board

D W R Hunter

Secretary

4th February 2010

Notes:

A Member entitled to attend and vote at this Special General Meeting is entitled to appoint a proxy to attend and, on a poll, to vote in his place. A Form of Proxy is enclosed.

The Form of Proxy may be returned by mail or by fax to the Secretary at the postal or fax address shown on the Form of Proxy, but to be valid must be received no later than 12 hours prior to the Meeting.

Emailed proxy forms are acceptable if the original form carrying the Member's signature has been scanned and attached to the email.