IOM

Correspondence from Cains (Advocate for PWC) 08/05/09 to Edwin Coe

Dear Mr Greene

We refer to your email addressed to Mike Simpson which refers to your
discussions yesterday and raises two points which you state are worth
repeating. Mr Simpson has asked us to respond, which we do below using
your numbering:-

  1. Your comments in relation to the potential effect of the Scheme of

Edwin Coe Correspondence to Mr Caine of Cains Solicitors 6th May 2009

Dear Mr Caine

Thank you for your note and the documents. We would indeed be pleased to have a meeting today but it would have to be by telephone with DAG committee members [--redacted--] and myself. I can provide conference call facilities. On this notice the three of us can only do at or after 4.30 p.m. today and I hope that fits.

EDWIN COE LETTER TO PWC HIGHLIGHTING ERRORS IN PRESS RELEASE

Dear Sirs,

Press release

The press release of the Liquidator Provisionally says

"If the Scheme is given approval by creditors, the Scheme will be sanctioned by the courts on 25 May 2009 and at that point become effective. This will be the Effective date of the Scheme."

This is misleading.

(1) The court hearing is on 27 May not 25 May.

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