STERLING INSURANCE COMPANY LIMITED: Carichi

Any sum standing to the credit of any one or more of any present or future accounts of the companies or any of them with the bank (including any accounts held in the bank's name with any designation which includes the name(s) of the companies or any of them) whether such accounts be denominated in sterling or in a currency or currencies other than sterling.

All the company's rights,title and interest to the assigned property (as defined) and all its benefits present and future therein. See the mortgage charge document for full details.

All the company's rights,title and interest to the assigned property (as defined) and all its benefits present and future. See the mortgage charge document for full details.

The bearer and registered UK government debt securities and such additional UK government debt securities. See the mortgage charge document for full details.

All the companys right title and interest in the "reinsurances" (as defined). See the mortgage charge document for full details.

The company's right title and interest in the reinsurances being all those policies treaties and contracts or reinsurances effected by the company with the reinsurancers (as defined in schedule 3 to the deed, copies of which are attached to form 395) and any policies treaties or contracts of reinsurance effected in substitution therefor. See the mortgage charge document for full details.

All the company's right title and interest to the assigned property (as defined) and all its benefits and interests present and future. See the mortgage charge document for full details.

All of the company's right title and interest to the assigned property (as defined) and all its benefits and interests present and future therein. See the mortgage charge document for full details.

The sum of £20,000 together with interest accrued now or to be held by national westminster bank PLC on an account numbered 66715962 and earmarked or designated by reference to the company.

All the company's rights, title and interest to the assigned property and all its benefits and interests present and future therein.

All the company's right title and interest to the assigned property (see form 395 for full details).

All the company's rights title & interest to the assigned property all claims of whatsoever nature & all proceeds due & to become due thereunder (being all & any policies & contracts of reinsurance including without limitation the current reinsurances) (see form 395 for full details).

All monies at the date of the reinsurance deposit agreement or at any time thereafter (see form 395 for full details).

All reinsurances referred to in clause 1 of the assignment effected in respect o f the vessel.

All re-insurance referred to in clause 1 of the assignment effected respect of the ships.

All policies & contracts of reinsurance which are from time to time taken out & effected by the company in respect of the reinsurance of M.V."southland star" & M.V. "wellington star".

All policies and contracts of reinsurance which are from time to time taken out and effected by the company in respect of the re-insurance of M.V. southland star and M. V. willington star.

All policies and contracts of reinsurance which are from time to time taken out & effected by the company in respect of the reinsurance of M. V. "avila star".

All the company's right title & interest in and to all policies or contracts of reinsurance which are from time to time taken out & effected by the co. In respect of the reinsurance of mv's california star, america star, trojan star, tuscan star, montreal star, & new york star.

All policies, & contracts of reinsurance which are from time to time taken out & effected by the company in respect of the reinsurance of M.V. "southland star, and M.V. "wellington star.".

Reinsurance of the vessel constructed by smiths dock company LTD of southbank tees-side under yard number 1331.

Reinsurance of the vessel constructed by smiths dock company LTD of southbank tees-side under yard number 1330.