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Audit committee financial expert

Sarbanes-Oxley requires that the Company's Annual Report contain a statement as to whether a member of the Company's Audit Committee is an audit committee financial expert. Consistent with the approach taken by the Board in relation to a similar requirement applying to the Company for a member of the Audit Committee to have relevant and recent financial experience under the UK's Combined Code on Corporate Governance, the Board has reviewed the qualifications and backgrounds of the members of the Audit Committee and determined that until now no one member of the Company's Audit Committee is an audit committee financial expert, the combined qualifications and experience of the Audit Committee members, when taken together with its modus operandi, give the Audit Committee collectively the financial expertise necessary to discharge its responsibilities.

Mr de Swaan who joined the Board and Audit Committee on 1 January 2006 has recent and relevant financial experience, in accordance with the combined code and has been nominated as an Audit Committee financial expert in accordance with the requirements of the Sarbanes-Oxley Act 2002.