28 April 2003 TO ALL MEMBERS Dear Sirs CLASS 8 FREIGHT, DEMURRAGE & DEFENCE SUPPLEMENTARY AND RELEASE CALLS At its meeting on 16 April 2003, the Committee reached the following decisions which reflect the continuing satisfactory financial position of the Class: 2000/2001 The Supplementary Call was levied in July 2001 at 30%, as originally estimated. The Release Call rate will remain at 20% and the year will be closed in October 2003. 2001/2002 The Supplementary Call was levied in July 2002, at the originally estimated rate of 30%. The Release Call rate will remain at 20% and the year will be closed in October 2004. 2002/2003 The Supplementary Call will be levied in July 2003 at 30% as originally estimated and will be payable on 20 August 2003 and 20 October 2003. The Release Call rate will remain at 50% until the Supplementary Call has been debited and will then reduce to 20%. It is expected that the year will be closed in October 2005. 2003/2004 The Supplementary Call estimate remains at 30% with the Release Call rate continuing at 50%, as advised in the Association’s Circular (8:069) of 13 November 2002. Yours faithfully A BILBROUGH & CO LTD (MANAGERS) 8:071