HILL SAMUEL OVERSEAS HOLDINGS LIMITED

All monies due or to become due from hill samuel overseas holdings limited (the "company") to societe de participations carnauldmetalbox (the "second rank beneficiary") under a guarantee, set out in the share pledge agreement, of the performance of the obligations of hill samuel bank limited to procure the transfer of 493,549 shares of societe de participations etrangeres carnauldmetalbox held by the company to the second rank beneficiary under and in accordance with the terms of a share transfer agreement dated 21ST december, 1995 between, inter alios, hill samuel bank limited and the second rank beneficiary (defined as the "second obligations" in the agreement)

All monies due or to become due from hill samuel overseas holdings limited ("the company") to cnca securities (jersey) limited, royal bank of canada europe limited and societe generale australia limited (each a "first rank beneficiary" and together the "first ranking beneficiaries") under the terms of a guarantee, set out in the share pledge agreement, of the performance of the obligations of societe de participations carnauldmetalbox under clause 5.06 of a share transfer agreement dated 21ST december, 1995 between, inter alios, the first rank beneficiaries, hill samuel bank limited and societe de participations carnauldmetalbox, pursuant to which societe de participations carnauldmetalbox undertakes to indemnify and keep indemnified each first rank beneficiary against all payments made or deemed made by such first rank beneficiary under the relevant letter of credit from three letters of credit dated 21ST december, 1995 issued by each first rank beneficiary in favour of hill samuel bank limited (defined as the "first obligations" in the agreement)