OUTLINE

• This circular provides details of the AGM of the Club in Bermuda on 26th October 2009 and the arrangements for voting by proxy.

TO THE MEMBERS

Dear Sirs

ANNUAL GENERAL MEETING1. Notice of Annual General Meeting on 26th October 2009

The notice of the Annual General Meeting is given in the Directors' Report and Financial Statements for the year ended 20th February 2009.

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 and 6 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 seven new Directors, namely, Mr H. V. Franco, Mr S. L. Ghomri, Mr R. C. Gillett, Mr J. Liberty, Mr N. Mukae, Mr H. Takahashi and Mr R. D. Widdows. Details are contained in paragraph 5 of the Agenda.

Yours faithfully

THOMAS MILLER (BERMUDA) LTD.