Dear Sirs

1. Notice of Annual General Meeting on 22nd October 2007
   The notice of the Annual General Meeting is given in the Directors' Report and Financial Statements for the year ended 20th February 2007.
2. Agenda for Annual General Meeting
   The Agenda is enclosed.
3. Proxy Form
   A Proxy Form and Schedule of Votes are enclosed in respect of the resolutions in items 4, 5, 6 and 7 of the Agenda. Please note the completed form must reach the Secretary at the latest 12 hours before the Annual General Meeting.
4. Election of Directors
   Nominations have been received for the election of four new Directors, namely, Mr F.A.H. Ali, Dr T. Held, Mr T. Kaneko and Mr Zhang Liang. Details are contained in paragraph 5 of the Agenda.
5. Directors' Remuneration
   Details of proposed increases in remuneration for attendance of Directors at Board and Committee meetings are contained in paragraph 6 of the Agenda.
6. Rules and Bye-Laws
   Last year was the first time that proposed amendments were not included in the AGM but were put to the membership at a Special General Meeting before the year end. This practice will continue to enable those Rule changes which become necessary at a later stage of the policy year to be considered and agreed upon before 20th February each year. A similar circular is being sent by the other members of the International Group of P&I Clubs.

Yours faithfully