30 April 1999 TO ALL MEMBERS Dear Sirs, CLASS 8 FREIGHT, DEMURRAGE & DEFENCE SUPPLEMENTARY AND RELEASE CALLS At its meeting on 28 April 1999, the Committee reaffirmed its view that the Class continues to be financially healthy. The Committee therefore took the following decisions: 1996/97 All Supplementary Calls have been levied. The Release Call rate will remain at 20%, and it is anticipated that the Committee will close the year in October 1999. 1997/98 and 1998/99 The Supplementary Calls for both years will be debited in July 1999 at the originally estimated figure of 30% in each case, and no further Supplementary Calls are anticipated for either year. For both years, the Release Call rate will remain at 50% until the Supplementary Call has been debited when it will reduce to 20%. It is expected that the Committee will close 1997/98 in October 2000, and that 1998/99 will be closed a year later. 1999/2000 The Supplementary Call estimate remains at 30% with the Release Call rate continuing at 50%, as advised in the Association’s Circular (8:057) of 20 October 1998. Yours faithfully, A.BILBROUGH & CO. LTD. (MANAGERS) 8:059