EIGL LIMITED

All monies due or to become due from the chargors to any bondholder on any account whatsoever under the terms of the aforementioned instrument creating or evidencing the charge

All monies due or to become due from the chargor to any bondholder on any account whatsoever under the terms of the aforementioned instrument creating or evidencing the charge

All monies due or to become due from each obligor to any secured creditor on any account whatsoever under the terms of the aforementioned instrument creating or evidencing the charge

All monies due or to become due from each obligor to any secured creditor on any account whatsoever under the terms of the aforementioned instrument creating or evidencing the charge

All monies due or to become due from the company to the chargee (whether for its own account or as trustee for the secured parties) or any of the other secured parties under the terms of the aforementioned instrument creating or evidencing the charge

All monies due or to become due from the company to the chargee under the terms of the aforementioned instrument creating or evidencing the charge

All monies due or to become due from the company to the chargee or any of the other secured parties under the terms of the aforementioned instrument creating or evidencing the charge

All obligations due or to become due from the company (the "chargor") to the chargee under the terms of the aforementioned instrument creating or evidencing the charge

All monies and liabilities now or at any time in the future due, owing or incurred by the obligors to secured parties under the terms of the aforementioned instrument creating or evidencing the charge

All monies due or to become due from the company to the chargee under the terms of the aforementioned instrument creating or evidencing the charge

All monies due or to become due from the company to the chargee on any account whatsoever

All monies due or to become due from the company to the chargee on any account whatsoever

The lloyd's obligations of the company and the lloyd's obligations of the continuing member the obligation of the company to pay the trustees sums equal in the aggregate to sums paid to the company's premiums trustees or otherwise applied under clause 7.2 of the trust deed

All monies due or to become due from the company to the chargee supplemental to deed of charge dated 17 november 1997

All monies due or to become due from the company to the chargee on any account whatsoever

All monies due or to become due from the company to the chargee under the terms of this fixed and floating charge

In favour of the society incorporated by lloyd's act 1871 by the name of lloyd's (the "society"), the trustees and (subject always to the terms of the trust deed) the beneficiaries (subject always to the terms of the trust deed) the premiums trustees (subject always to the terms of the trust deed and of the premiums trust deed), all the underwriting obligations of equity red star limited ("the company") incurred by the company as an underwriting member of the society at any time before the termination date (being the 80TH anniversary of the date of the trust deed) including obligations to the society and the trustees (being the society and the other trustees for the time being of the trusts created by the trust deeds) and obligations arising under: (a) the bye laws, regulations, rules, directions or other requirements of the society; and (b) any deed, contract, instrument or other arrangement of any kind approved by the society; but not including obligations arising in respect of any letter of credit, guarantee or other security given to secure the performance of any of the said underwriting obligations in favour of the person giving such guarantee or other security

All the underwriting obligations of cox dedicated corporate member limited (the company) incurred by the company as an underwriting member of the society at any time before the termination date (as defined) including obligations to the society and the trustees (as defined) and obligations arising under a). The bye laws,regulations,rules,directions or other requirements of the society; and b). Any deed,contract, instrument or other arrangement of any kind approved by the society; but not including obligations arising in respect of any letter of credit, guarantee or other security given to secure the performance of any of the said underwriting obligations in favour of the person giving such guarantee or other security.

All monies due or to become due from the company to the chargee on any account whatsoever