18 July 2003 TO ALL WAR RISKS MEMBERS Dear Sirs, CLASS 7 WAR RISKS SUPPLEMENTARY & RELEASE CONTRIBUTIONS The Committee has recently reviewed the position in respect of open years and reached the following decisions: 2000/2001 The year should be closed without Supplementary Contribution and the balance brought forward into the next open year. 2001/2002 No Supplementary Contributions are anticipated and the Release Contribution rate should remain at 5%. 2002/2003 No Supplementary Contributions are anticipated and the Release Contribution rate should remain at 5%. 2003/2004 The Supplementary Contribution rate should remain, as originally estimated, at nil, with the Release Contribution rate remaining at 5%. Yours faithfully A BILBROUGH & CO LTD (MANAGERS) 7:067