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SCHEDULELimits on Investments

Part I

1% limit

1.  Any single sub-underwriting contract.

2% limit

2.  All contributions to any single partnership.

5% limit

3.  All contributions to partnerships.

10% limit

4.  All deposits with a person specified in paragraph 12 or 13 of Schedule 2 to the Banking Act 1987 and all loans (but see paragraph 14).

5.  All investments in unlisted securities of companies.

6.  Any single holding (but see paragraphs 15 and 16).

7.  All deposits with any single bank, institution or person (other than the National Savings Bank).

15% limit

8.  All sub-underwriting contracts.

25% limit

9.  All investments in units or other shares of the investments subject to the trusts of unit trust schemes managed by any one body (but see paragraph 16).

10.  All investments in open-ended investment companies where the collective investment schemes constituted by the companies are managed by any one body.

11.  All investments in units or other shares of the investments subject to the trusts of unit trust schemes and all investments in open-ended investment companies where the unit trust schemes and the collective investment schemes constituted by those companies are managed by any one body (but see paragraph 16).

12.  All insurance contracts.

13.  All securities transferred (or agreed to be transferred) by the Committee under stock lending arrangements.