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• This circular provides details of the AGM of the Club in Vancouver on 23rd October 2006 and the arrangements for voting by proxy.

TO THE MEMBERS

Dear Sirs

ANNUAL GENERAL MEETING

Notice of Annual General Meeting on 23rd October 2006

Agenda for Annual General Meeting

The Agenda is enclosed.

Proxy Form

A Proxy Form and Schedule of Votes are enclosed in respect of the resolutions in items 4, 5 and 6 of the Agenda. Please note the completed form must reach the Secretary at the latest 12 hours before the Annual General Meeting.

Election of Directors

Nominations have been received for the election of five new Directors, namely, Mrs L. Fønss Schrøder, Mr M.R. Itkin, Ms K. Siggins, Mr N.P. Tsakos and Mr P. Wogan. Details are contained in paragraph 5 of the Agenda.

Rules and Bye-Laws

It has been the practice in the past for the membership to approve amendments to the Rules and Bye-Laws of the Association at the Annual General Meeting. On this occasion and in future, it is intended that the proposed amendments will be put to the membership at a Special General Meeting before the following February. This change will enable those Rule changes which become necessary at a late stage of the policy year to be considered and agreed upon before 20th February each year.

Yours faithfully

THOMAS MILLER (BERMUDA) LTD.

The notice of the Annual General Meeting is given in the Directors' Report and Financial Statements for the year ended 20th February 2006.