THE MERCANTILE INVESTMENT TRUST PLC

A trust deed

The total amount payable by the issuer under the trust deeds referred to below, namely the principal of, and premium (if any) and interest on, the £100,000,000 6.125 per cent. Secured bonds due 2030 of the issuer (the "existing bonds") and all (if any) further bonds, notes, debentures or debenture stock which may be created and issued by the issuer (together with the existing bonds, the "bonds") and all other moneys intended to be secured, in each case under or by the trust deeds (whether or not subsisting or entered into in the future) constituting and securing the bonds

A floating charge over the undertaking property and assets incuding uncalled capital please refer to form 395 for full details.

A floating charge

All monies due or to become due from the company to the chargee on any account whatsoever and under or in connection with the loan agreements

All the undertaking property assets and rights of the company present and future (including any uncalled capital) wherever situate.

Deed of security

£860,000 and all other monies due or tobecome due from the team fund limited partnership to the chargee under the terms of the loan agreement dated 20TH august 1992

The company's share as a member of the partnership of its assets in a deed dated 20TH august 1992,the distribution agreements,all licence agreements,the dollardeposit account with barclays bank PLC and the sterling deposit account with barclays bank PLC and floating charge over all undertakingproperty and assets see form 395 ref M513C for full details.

Mortgage of shares.

All monies due or to become due from the company and/or all or any of the other companies named therein to the chargee under the terms of the deed.

All dividends or interest paid or becoming payable on 244, 470 10P '3' ordinary shares in harry rawden's PLC 244, 470 10P ordinary shares in harry ramsden's PLC.

Trust deed

Series of debentures

Trust deed

An amounting of first deb stock which including 1,25000 like stock already issued shall not exceed one-half of the capital stock of co. Issued and paid up from time to time.

Undertaking & all property present & future.

Trust deed.

125,000 4% first deb stock banking pari passu with 1,125,000 stock already issued.

Undertaking & all property present & future.

Trust deed

£125,000 further first deb stock ranking pari passu with £1,000,000 first deb stock secured by 5 trust deeds dated 14/61887, 5/8/1887, 20/3/1888, 28/6/1889, 11/4/1893

Undertaking and all property and assets.

Trust deed supplemental to a trust deed of 21 june 1907 securing 2ND debenture stock

Such further sum as being added to the debenture stock already issued shall never exceed an amount equal to one half of the company's capital for the time being leased and paid up.

Undertaking, property present and future, including uncalled capital.

Trust deed

£250,000 debenture stock redeemable at 5 per cent. Premium, with power to issue further like debenture stock not to exceed in the agreegated total of £1,000,000

The company's under taking and property present and future including uncalled capital subject to prior charge.