This was a presentation that i did in 2001 when i was at Euphony Communications in the Risk Management department.

2. Bankruptcy & Liquidation Presentation Presented by Gary Angel in 2001

3. 1999 Bankruptcy’s and Liquidations by the quarter Residential & Commercial In the 1 st quarter we had no Bankruptcies or Liquidations In the 2 nd quarter we had 1 Bankruptcies. In the 3 rd quarter we had 6 Bankruptcies In the last quarter we had 36 Bankruptcies.

4. 2000 Bankruptcy & Liquidation by the quarter Residential & Commercial In the 1 st quarter we received 14 Bankruptcies or Liquidations In the 2 nd Quarter we received 15 Bankruptcies In the 3 rd Quarter we received 39 Bankruptcies. In the last Quarter we received 29 Bankruptcies

5. 2001 Bankruptcy and Liquidations by the Quarter Residential & Commercial In the 1 st Quarter we received 13 Bankruptcies. In the 2 nd Quarter we received 38 Bankruptcies. In the 3 rd Quarter we received 33 Bankruptcies In the last quarter we received

6. OVERALL GRAPH VIEW OF BANKRUPTCIES SINCE 1999

7. Overview of Bankruptcies since 1999

8. Cost of Bankruptcies Loss since Day 1

9. 56% commercial 44% Residential Total of Residential & Commercial Bankruptcies 56% Commercial 44% Residential Total Bankruptcies up to the end of March 2001

10. % of Commercial & Residential Bankruptcies 185 Commercial Bankruptcies (57.5%) 137 Residential Bankruptcies (42.5%) Balance at Termination : Residential Commercial £ XX,XXX,XX . £ XX,XXX,XX Balance Inc. Last Invoice : Residential Commercial £ XX,XXX,XX £ XX,XXX,XX Current balance: Residential Commercial £ XX,XXX,XX £ XX,XXX,XX Amount Recovered: Residential Commercial £ XXXX,XX £ XXXX,XX Total Bankruptcies up to 10 th June 2001 42.5% Residential 57.5% Commercial