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TO THE MEMBERS

Dear Sirs

SPECIAL GENERAL MEETING - AMENDMENTS TO CLUB RULES

At the Special General Meeting held on 14th February 2006, the proposed amendments to Rule 2, Section 12 Pollution Risks, relating to STOPIA and TOPIA, and the Rule 5, Section F - Exclusion of Nuclear Risks, were approved. The two Resolutions as set out in the Notice of Meeting attached to

The amendments will come into effect from 12 noon Greenwich Mean Time on 20th February 2006.

Yours faithfully

THOMAS MILLER (BERMUDA) LTD.

Circular 1/06 were passed.

Two resolutions amending the Rules in respect of pollution risks and nuclear risks were passed at the SGM