MIRA INFORM REPORT

Report Date :

06.10.2014

IDENTIFICATION DETAILS

Name :	TEREX PEGSON LIMITED

Formerly Known As :	B-L PEGSON LIMITED 'PEGSON,LIMITED

Registered Office :	The Pinnacle 170 Midsummer Boulevard Milton Keynes MK9 1FE

Country :	United Kingdom

Financials (as on) :	31.12.2012

Date of Incorporation :	13.08.1931

Com. Reg. No.:	00258409

Legal Form :	Private Limited With Share Capital

Line of Business :	· Manufacture of Pumps. · Manufacture and Distribution of Equipment for use in the Crushing and Recycling Business.

No of Employees :	54

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

United Kingdom

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

UNITED KINGDOM - ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these included nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of £375 billion (approximately $605 billion) as of December 2013. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase.

Source : CIA

Company Name & address

Company Name: TEREX PEGSON LIMITED

Company No: 00258409

Registered Address: The Pinnacle 170 Midsummer Boulevard Milton Keynes Mk9 1fe

Company Summary

Registered Address The Pinnacle 170 Midsummer Boulevard Milton Keynes Mk9 1fe

Trading Address The Pinnacle 170 Midsummer Boulevard Milton Keynes Bucks Mk9 1fe

Website Address http://www.terexpegson.com

Incorporation Date 13/08/1931

Previous Name B-L PEGSON LIMITED

Type Private limited with Share Capital

Date of Change 23/09/2005

Filing Date of Accounts 29/11/2013

Currency GBP

Share Capital £2,530,782

SIC07 28131

Charity Number -

SIC07 Description MANUFACTURE OF PUMPS

Principal Activity Manufacture and distribution of equipment for use in the crushing and recycling business.

Key Financials

Year to Date Turnover Pre Tax Profit Shareholder Funds Employees

31/12/2012 £13,006,000 £4,929,000 £96,575,000 54

31/12/2011 £11,796,000 £2,416,000 £92,932,000 49

31/12/2010 £10,892,000 £9,082,000 £91,104,000 54

Mortgage Summary

Total Mortgage 11

Outstanding 2

Satisfied 9

COMMENTARY

No exact match CCJs are recorded against the company.
Sales in the latest trading period increased 10.3% on the previous trading period.
Net Worth increased by 3.9% during the latest trading period.
A 3.5% growth in Total Assets occurred during the latest trading period.
Pre-tax profits increased by 104% compared to the previous trading period.
The company saw an increase in their Cash Balance of 1.9% during the latest trading period.
The audit report contains no adverse comments.
No recent changes in directorship are recorded.
The company is part of a group.
The company was established over 83 years ago.

CCJ

Total Number of Exact CCJs -	0	Total Value of Exact CCJs -
Total Number of Possible CCJs -	0	Total Value of Possible CCJs -
Total Number of Satisfied CCJs -	0	Total Value of Satisfied CCJs -
Total Number of Writs -	-

Total Current Directors	4
Total Current Secretaries	2
Total Previous Directors / Company Secretaries	27

CURRENT DIRECTORS

Name	Eric Cohen	Date of Birth	19/10/1958
Officers Title	Mr	Nationality	American
Present Appointments	60	Function	Director
Appointment Date	03/08/1999
Address	3 Turtleback Lane, Westport, Ct 06880
Other Actions	View Director Report	View Consumer Report	View AML Report
	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Ronald Matthew Defeo	Date of Birth	18/03/1952
Officers Title	Mr	Nationality	American
Present Appointments	46	Function	Director
Appointment Date	03/08/1999
Address	45 Beachside Avenue, Westport, Connecticut 06880
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Eric I Cohen	Date of Birth	19/10/1958
Officers Title	Mr	Nationality	American
Present Appointments	72	Function	Director
Appointment Date	03/08/1999
Address	32 Burnham Hill Road, Westport, Connecticut, 06880, Fairfield
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Kevin Patrick Bradley	Date of Birth	22/06/1962
Officers Title	Mr	Nationality	American
Present Appointments	36	Function	Director
Appointment Date	11/03/2013
Address	The Pinnacle 170 Midsummer Boulevard, Milton Keynes, MK9 1FE
Disqualified		Disqualified End Date
Disqualification Exception	No

CURRENT COMPANY SECRETARY

Name	Eric Cohen	Date of Birth	19/10/1958
Officers Title	Mr	Nationality	American
Present Appointments	60	Function	Company Secretary
Appointment Date	03/08/1999
Address	3 Turtleback Lane, Westport, Ct 06880
Other Actions		View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

Name	Eric I Cohen	Date of Birth	19/10/1958
Officers Title	Mr	Nationality	American
Present Appointments	72	Function	Company Secretary
Appointment Date	03/08/1999
Address	32 Burnham Hill Road, Westport, Connecticut, 06880, Fairfield
Other Actions		View Consumer Report	View Trace Report
Disqualified		Disqualified End Date
Disqualification Exception	No

TOP 20 SHAREHOLDERS

Name	Currency	Share Count	Share Type	Nominal Value	% of Total Share Count
PEGSON GROUP LTD	GBP	2,530,782	ORDINARY	1	100

PROFIT & LOSS

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Weeks	52	(%)	52	(%)	52	(%)	52	(%)	52
Currency	GBP	(%)	GBP	(%)	GBP	(%)	GBP	(%)	GBP
Consolidated A/cs	N	(%)	N	(%)	N	(%)	N	(%)	N
Turnover	£13,006,000	10.3%	£11,796,000	8.3%	£10,892,000	-81.3%	£58,361,000	-65.4%	£168,689,000
Export	£1,611,000	29.7%	£1,242,000	-16.5%	£1,488,000	-96.4%	£41,172,000	-72.5%	£149,473,000
Cost of Sales	£12,216,000	-2.4%	£12,521,000	25.8%	£9,956,000	-83.4%	£59,912,000	-55.7%	£135,284,000
Gross Profit	£790,000	209%	-£725,000	-177.5%	£936,000	160.3%	-£1,551,000	-104.6%	£33,405,000
Wages & Salaries	£1,760,000	20%	£1,467,000	-22.3%	£1,887,000	-77.2%	£8,278,000	-44.7%	£14,975,000
Directors Emoluments	-	-	-	-100%	£108,000	-58.9%	£263,000	-14.9%	£309,000
Operating Profit	-£559,000	60.2%	-£1,404,000	-200.8%	£1,393,000	109.6%	-£14,531,000	-171.6%	£20,302,000
Depreciation	£186,000	154.8%	£73,000	-76.1%	£305,000	-3.5%	£316,000	-36%	£494,000
Audit Fees	£33,000	-8.3%	£36,000	-7.7%	£39,000	-45.1%	£71,000	57.8%	£45,000
Interest Payments	£25,000	-	-	-	-	-100%	£734,000	-33.9%	£1,111,000
Pre Tax Profit	£4,929,000	104%	£2,416,000	-73.4%	£9,082,000	158%	-£15,661,000	-141.4%	£37,793,000
Taxation	-£1,286,000	-118.7%	-£588,000	37.2%	-£937,000	-148%	£1,953,000	118.7%	-£10,433,000
Profit After Tax	£3,643,000	99.3%	£1,828,000	-77.6%	£8,145,000	159.4%	-£13,708,000	-150.1%	£27,360,000
Dividends Payable	-	-	-	-	-	-	-	-	-
Retained Profit	£3,643,000	99.3%	£1,828,000	-77.6%	£8,145,000	159.4%	-£13,708,000	-150.1%	£27,360,000

BALANCE SHEET

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Tangible Assets	£2,501,000	33.5%	£1,873,000	4.1%	£1,800,000	-14.5%	£2,105,000	-12%	£2,392,000
Intangible Assets	0	-	0	-	0	-	0	-	0
Total Fixed Assets	£2,501,000	33.5%	£1,873,000	4.1%	£1,800,000	-14.5%	£2,105,000	-12%	£2,392,000
Stock	£1,408,000	-17.9%	£1,715,000	50.4%	£1,140,000	46%	£781,000	-97.2%	£27,458,000
Trade Debtors	£34,000	3%	£33,000	26.9%	£26,000	-99.4%	£4,419,000	-63.2%	£12,016,000
Cash	£65,805,000	1.9%	£64,565,000	8.6%	£59,454,000	13.1%	£52,585,000	-3.9%	£54,692,000
Other Debtors	£66,032,000	4.8%	£62,984,000	-6.6%	£67,460,000	-4.6%	£70,725,000	15.8%	£61,053,000
Miscellaneous Current Assets	0	-	0	-	0	-	0	-	0
Total Current Assets	£133,279,000	3.1%	£129,297,000	1%	£128,080,000	-0.3%	£128,510,000	-17.2%	£155,219,000
Trade Creditors	£2,305,000	7.3%	£2,148,000	-1.7%	£2,185,000	-21.3%	£2,776,000	-83.7%	£17,023,000
Bank Loans & Overdrafts	0	-	0	-	0	-	0	-	0
Other Short Term Finance	£36,325,000	3.2%	£35,199,000	0.5%	£35,011,000	-9.4%	£38,645,000	51.3%	£25,540,000
Miscellaneous Current Liabilities	£334,000	60.6%	£208,000	-28.8%	£292,000	-72.2%	£1,051,000	-83.1%	£6,223,000
Total Current Liabilities	£38,964,000	3.8%	£37,555,000	0.2%	£37,488,000	-11.7%	£42,472,000	-12.9%	£48,786,000
Bank Loans & Overdrafts and LTL	£241,000	-64.7%	£683,000	-47%	£1,288,000	-75.2%	£5,184,000	-57.4%	£12,158,000
Other Long Term Finance	0	-	0	-	0	-100%	£2,211,000	-72.5%	£8,034,000
Total Long Term Liabilities	£241,000	-64.7%	£683,000	-47%	£1,288,000	-75.2%	£5,184,000	-57.4%	£12,158,000

CAPITAL & RESERVES

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Called Up Share Capital	£2,531,000	-	£2,531,000	-	£2,531,000	-	£2,531,000	-	£2,531,000
P & L Account Reserve	£92,321,000	4.1%	£88,678,000	2.1%	£86,850,000	10.3%	£78,705,000	-14.8%	£92,413,000
Revaluation Reserve	£1,723,000	-	£1,723,000	-	£1,723,000	-	£1,723,000	-	£1,723,000
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder Funds	£96,575,000	3.9%	£92,932,000	2%	£91,104,000	9.8%	£82,959,000	-14.2%	£96,667,000

OTHER FINANCIAL ITEMS

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Net Worth	£96,575,000	3.9%	£92,932,000	2%	£91,104,000	9.8%	£82,959,000	-14.2%	£96,667,000
Working Capital	£94,315,000	2.8%	£91,742,000	1.3%	£90,592,000	5.3%	£86,038,000	-19.2%	£106,433,000
Total Assets	£135,780,000	3.5%	£131,170,000	1%	£129,880,000	-0.6%	£130,615,000	-17.1%	£157,611,000
Total Liabilities	£39,205,000	2.5%	£38,238,000	-1.4%	£38,776,000	-18.6%	£47,656,000	-21.8%	£60,944,000
Net Assets	£96,575,000	3.9%	£92,932,000	2%	£91,104,000	9.8%	£82,959,000	-14.2%	£96,667,000

CASH FLOW

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Net Cashflow from Operations	-	-	-	-	-	-	-	-	-
Net Cashflow before Financing	-	-	-	-	-	-	-	-	-
Net Cashflow from Financing	-	-	-	-	-	-	-	-	-
Increase in Cash	-	-	-	-	-	-	-	-	-

MISCELLANEOUS

Date Of Accounts	31/12/12	(%)	31/12/11	(%)	31/12/10	(%)	31/12/09	(%)	31/12/08
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	£96,816,000	3.4%	£93,615,000	1.3%	£92,392,000	4.8%	£88,143,000	-19%	£108,825,000
Number of Employees	54	10.2%	49	-9.3%	54	-75.9%	224	-41.2%	381
Auditors	PRICEWATERHOUSECOOPERS LLP
Auditor Comments	The audit report contains no adverse comments
Bankers	HSBC BANK PLC
Bank Branch Code	40-22-47

RATIOS

Date Of Accounts	31/12/12	31/12/11	31/12/10	31/12/09	31/12/08
Pre-tax profit margin %	37.90	20.48	83.38	-26.83	22.40
Current ratio	3.42	3.44	3.42	3.03	3.18
Sales/Net Working Capital	0.14	0.13	0.12	0.68	1.58
Gearing %	0.20	0.70	1.40	6.20	12.60
Equity in %	71.10	70.80	70.10	63.50	61.30
Creditor Days	64.51	66.28	73.02	17.31	36.73
Debtor Days	0.95	1.01	0.86	27.56	25.92
Liquidity/Acid Test	3.38	3.39	3.38	3	2.61
Return On Capital Employed %	5.09	2.58	9.82	-17.76	34.72
Return On Total Assets Employed %	3.63	1.84	6.99	-11.99	23.97
Current Debt Ratio	0.40	0.40	0.41	0.51	0.50
Total Debt Ratio	0.40	0.41	0.42	0.57	0.63
Stock Turnover Ratio %	10.82	14.53	10.46	1.33	16.27
Return on Net Assets Employed %	5.10	2.59	9.96	-18.87	39.09

Summary Directors/Shareholders Financials Event History Group Structure Media Solutions

Status History Event History Rating History Limit History Previous Company Names

STATUS HISTORY

No Status History found

EVENT HISTORY

Date	Description
22/04/2014	Annual Returns
09/12/2013	New Accounts Filed
29/04/2013	Annual Returns
25/03/2013	New Board Member Mr K.P. Bradley appointed
18/03/2013	New Board Member Mr K.P. Bradley appointed
15/03/2013	Mr P.C. Widman has left the board
12/12/2012	New Accounts Filed
30/04/2012	Annual Returns
14/10/2011	New Accounts Filed
14/10/2011	New Accounts Filed
27/04/2011	Annual Returns
02/02/2011	New Accounts Filed
02/02/2011	New Accounts Filed
30/08/2010	New Board Member Mr P.C. Widman appointed
10/08/2010	Change in Reg.Office

PREVIOUS COMPANY NAMES

Date	Previous Name
23/09/2005	B-L PEGSON LIMITED
08/06/1998	'PEGSON,LIMITED

SUMMARY

Holding Company	PEGSON GROUP LIMITED
Ownership Status	Wholly Owned
Ultimate Holding Company	TEREX CORP

GROUP STRUCTURE

Company Name	Registered Number	Latest Key Financials	Consol. Accounts	Turnover
TEREX CORP		-	-	$7,084,000,000
TEREX MHPS GMBH	HRB 72305	31.12.2012	Y	€301,471,000
DEMAG CRANES & COMPO...	HRB 5537	-	-
DEMAG CRANES AND C...	04213248	31.12.2012	N
DEMAG CRANES AND...	02450667	31.12.2012	N	£36,057,000
GENIE HOLDINGS INC	N/A	-	-
GENIE INTERNATIONAL...	03581550	31.12.2012	N
GENIE UK LIMITED	02452185	31.12.2012	Y	£97,393,000
GENIE FINANCIAL SE...	03391393	31.12.2013	N
REGGIANE CRANES & PLAN...	N/A	-	-
TBA B.V.	27197330	31.12.2012	N
DBIS (SOFTWARE AND A...	01422156	31.12.2013	N	£3,258,183
TEREX AERIALS LIMITED	IE058299	31.12.2012	N
TEREX CRANES GERMANY GMBH	HRB 30291	31.12.2012	N	€562,349,357
TEREX CRANES UK LIMITED	02645469	31.12.2012	N	£17,307,000
TEREX EQUIPMENT & MACH...	N/A	-	-
TEREX EUROPEAN HOLDING...	37090102	31.12.2012	N
NEW TEREX HOLDINGS U...	02962659	31.12.2012	N
INTERNATIONAL MACH...	02502094	31.12.2012	N
IMACO TRADING LIM...	02675769	31.12.2012	N
IMACO BLACKWOOD H...	02740191	31.12.2012	N
IMACO BLACKWOOD...	00480679	31.12.2012	N
TEREX DISTRIBUTIO...	02542578	31.12.2012	N
FERMEC HOLDINGS LI...	02723989	31.12.2012	N
FERMEC TRUSTEE LI...	03090272	31.12.2012	N
FERMEC MANUFACTUR...	00825420	31.12.2012	N
FERMEC INTERNAT...	02197706	31.12.2012	N
FERMEC NORTH AMER...	02911177	31.12.2012	N
POWERSCREEN INTERN...	00986465	31.12.2012	N
CLIFFMERE LIMITED	01912852	31.12.2012	N
BROWN LENOX & C...	00102619	31.12.2012	N
B-L PEGSON LIMITED	03087561	31.12.2012	N
POWERSCREEN INTER...	03720364	31.12.2012	N
MATBRO (NI) LIMITED	NI013550	31.12.2012	N
FINLAY HYDRASCREE...	NI014047	31.12.2012	N
POWERSCREEN MANUF...	NI021449	31.12.2012	N
PEGSON GROUP LIMITED	02881575	31.12.2012	N
TEREX PEGSON LI...	00258409	31.12.2012	N	£13,006,000
POWERSCREEN LIMITED	IE030326	31.12.2012	N
TEREX LIFTING U.K...	02602451	31.12.2012	N
TEREX UNITED KING...	00494347	31.12.2012	N	£123,286,000
TEREX GB LIMITED	NI006669	31.12.2012	N	£286,973,000
TEREX EQUIPMENT LI...	SC086323	31.12.2012	N	£207,694,000
TEREX POWERTRAIN L...	SC113609	31.12.2012	N
TEREX FINANCIAL SERV...	04958960	31.12.2012	N	£3,405,222
TEREX INTERNATIONAL...	IE327184	31.12.2013	N	€22,877,000

MORTGAGE DETAILS

Mortgage Type:	FIXED CHARGE ON BOOK DEBTS
Date Charge Created:	23/08/00
Date Charge Registered:	26/08/00
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED CHARGE ON ALL BOOK DEBTS AND OTHER DEBTS NOW AND FROM TIME TO TIME HEREAFTER DUE OWING OR INCURRED TO THE COMPANY
Mortgage Type:	DEBENTURE
Date Charge Created:	23/08/00
Date Charge Registered:	26/08/00
Date Charge Satisfied:	-
Status:	OUTSTANDING
Person(s) Entitled:	HSBC BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

Mortgage Type:	COMPOSITE DEBENTURE
Date Charge Created:	04/03/99
Date Charge Registered:	25/03/99
Date Charge Satisfied:	02/09/00
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THECOMPOSITE GUARANTEEAND INDEMNITY AND/OR THE MASTER AGREEMENT (BOTH AS DEFINED)
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	COMPOSITE DEBENTURE
Date Charge Created:	04/03/99
Date Charge Registered:	25/03/99
Date Charge Satisfied:	02/09/00
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THECOMPOSITE GUARANTEEAND INDEMNITY AND/OR THE MASTER AGREEMENT (BOTH AS DEFINED)
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	COMPOSITE DEBENTURE
Date Charge Created:	04/03/99
Date Charge Registered:	25/03/99
Date Charge Satisfied:	02/09/00
Status:	SATISFIED
Person(s) Entitled:	ALLIED IRISH BANKS PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THECOMPOSITE GUARANTEEAND INDEMNITY AND/OR THE MASTER AGREEMENT (BOTH AS DEFINED)
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	COMPOSITE DEBENTURE
Date Charge Created:	04/03/99
Date Charge Registered:	25/03/99
Date Charge Satisfied:	02/09/00
Status:	SATISFIED
Person(s) Entitled:	SMURFIT PARIBAS BANK LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER UNDER THECOMPOSITE GUARANTEEAND INDEMNITY AND/OR THE MASTER AGREEMENT (BOTH AS DEFINED)
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	COMPOSITE DEBENTURE
Date Charge Created:	04/03/99
Date Charge Registered:	25/03/99
Date Charge Satisfied:	02/09/00
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND,AS SECURITY TRUSTEE FOR THE SECURED PARTIES(AS
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY AND/OR ALL OR ANY OF THE OTHERCOMPANIES NAMED THEREIN TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS
Mortgage Type:	SUPPLEMENTAL DEED
Date Charge Created:	13/05/98
Date Charge Registered:	02/06/98
Date Charge Satisfied:	02/09/00
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF IRELANDAS SECURITY TRUSTEE FOR THE SECURED PARTIES (ASD
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	A FIXED CHARGE OVER ALL THE COMPANY\S PLANT AND MACHINERY AND ALL THE COMPANY\SOTHER PRESENT AND FUTURE PLANT MACHINERY VEHICLES FIXTURES IMPLEMENTS UTENSILS AND EQUIPMENT. A FIXED CHARGE OVER ALL THECOMPANY\S GOODWILL UNCALLED CAPITAL PATENTS TRADE MARKS PATENT APPLICATIONS BRAND NAMES COPYRIGHTSRIGHTS IN THE NATURE OF COPYRIGHT SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	COMPOSITE DEBENTURE
Date Charge Created:	26/03/98
Date Charge Registered:	16/04/98
Date Charge Satisfied:	02/09/00
Status:	SATISFIED
Person(s) Entitled:	THE GOVERNOR AND COMPANY OF THE BANK OF IRELANDAS SECURITY TRUSTEE FOR THE BANKS ("THE SECUREDP
Amount Secured:	IN FAVOUR OF THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND AS SECURITY TRUSTEE FOR THE BANKS ("THESECURED PARTIES") ALL MONIES DUE OR TO BECOME DUE FROM THECOMPANY TO THE SECURED PARTIES OR ANY OFTHEM WHETHER COLLECTIVELY OR INDIVIDUALLY BY THE COMPANY EITHER ALONE OR JOINTLY WITH ANY PERSON ORCOMPANY ON ANY ACCOUNT UNDER THE TERMS AND CONDITIONS AS DEFINED IN THE COMPOSITE DEBENTURE
Details:	A FIXED CHARGE OVER ALL THE COMPANYS F/H AND L/H LANDS HEREDITAMENTS, PREMISES,PROPERTY AND CHATTELSBOTH PRESENT AND FUTURE INCLUDING THE PROPERTY PARTICULARS OF WHICH ARE SPECIFIED UNDER THE COMPANY\S NAME IN THE SECOND SCHEDULE HERETO AND ALL THE COMPANY\S INTERESTS IN ALL BUILDINGS, FIXTURES (INCLUDING, WITHOUT LIMITATION, TRADE FIXTURES) AND THE FIXEDPLANT AND MACHINERY FROM TIME TO TIME THEREON; ALL PRESENT AND FUTURE PLANT MACHINERY VEHICLES FIXTURES IMPLEMENTS UTENSILS AND EQUIPMENT, ALLGOODWILL AND UNCALLED CAPITAL AND ALL DEBTS; FLOATING CHARGE OVER THE BOOK DEBTS UNDERTAKING ANDALLOTHER PROPERTY ASSETS AND RIGHTS WHATSOEVER BOTH PRESENT AND FUTURE. SCHEDULE - F/H PROPERTY TO WHICH TITLE IS COMPRISED IN TWENTY THREE PARTS EACH OF WHICH IS SHOWN BY A DIFFERENT COLORING ON THE PLANT, DETAILS ARE SET OUT BELOW BY REFERENCE TO THOSE COLOURINGS. HATCHED PURPLE T/N-LT108193. COLOURED BLUR T/N-LT88667 (SEE 395 FOR OTHER PROPERTY CHARGED). SEE THE MORTGAGE CHARGE DOCUMENT FOR FULLDETAILS
Mortgage Type:	ASSIGNMENT AND CHARGE OF SUB-LEASING AGREEMENTS
Date Charge Created:	20/09/94
Date Charge Registered:	23/09/94
Date Charge Satisfied:	15/08/00
Status:	SATISFIED
Person(s) Entitled:	BARCLAYS MERCANTILE BUSINESS FINANCE LIMITED
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	ALL RIGHTS TITLE AND INTEREST IN THE SUB LEASES SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

Mortgage Type:	SINGLE DEBENTURE
Date Charge Created:	14/04/87
Date Charge Registered:	25/04/87
Date Charge Satisfied:	30/08/96
Status:	SATISFIED
Person(s) Entitled:	LLOYDS BANK PLC
Amount Secured:	ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER
Details:	STOCKS SHARES & SECURITIES FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY

PREVIOUS DIRECTOR/COMPANY SECRETARIES

Name	Current Directorships	Previous Directorships
Phillip Charles Widman	4	38
Ivor McNish	7	20
Ivor McNish	7	20
Howard Maurice Brookes	0	37
Fergus Cumming Baillie	25	39
Alan Geoffrey Schroeder	10	19
David Hallam	0	10
John Egwin Craig	3	29
Nigel Terence Wileman	11	6
Keith John Tudor	3	4
Andrew David Harris	16	112
Alan Richards	6	5
Peter Raymond John Allen	2	7
Hubert John Watson	0	36
Andrew Timothy Dakin	1	1
Paul Harris	0	2
Jonathan Peter Wilde	2	6
Patrick Alexander Devlin	0	1
Joseph Apuzzo	18	26
Donald Campbell	0	26
John Frank William Kennerley	3	26
Kerry O'Sullivan	0	26
Gerald Cavan Pratt	6	9
Hugh Pat Dooey	7	13
Peter Jacques	0	1
Joseph Edward Massey	0	1
Shay McKeown	6	6
Average Invoice Value	£10987.29
Invoices available	3
Paid	3
Outstanding	0

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

	Within Terms	0-30 Days	31-60 Days	61-90 Days	91+ Days
Paid	0	2	0	0	1
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.75
UK Pound	1	Rs.100.07
Euro	1	Rs.77.95

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	TPT

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.