FOULA MARITIME LIMITED

A ship mortgage deed and collateral declaration of pledge

Created on 08 Jul 2008

Delivered on 22 Jul 2008

Status outstanding

Persons Entitled

Lloyds Tsb Bank PLC

Amount Secured

All monies due or to become due from the company to the chargee under the terms of the aforementioned instrument creating or evidencing the charge

Short Particulars

The vessel skandi foula and in her various parts and appurtenances see image for full details.

Transactions

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A third priority deed of general assignment and covenant

Created on 03 Jul 2008

Delivered on 15 Jul 2008

Status outstanding

Persons Entitled

Lloyds Tsb Bank PLC

Amount Secured

All monies due or to become due from the company to the chargee on any account whatsoever under the terms of the aforementioned instrument creating or evidencing the charge

Short Particulars

Right title and interest present and future in to and under the insurances of the vessel see image for full details.

Transactions

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Norwegian account pledge

Created on 30 Apr 2002

Delivered on 07 May 2002

Status outstanding

Persons Entitled

Lloyds Tsb Bank PLC

Amount Secured

£75,000,000 and all other monies due or to become due from any of the security parties to the chargee or any of the beneficiaries (all terms as defined) under the terms of the aforementioned instrument creating or evidencing the charge

Short Particulars

All of its right title interest and benefits in and under the charterer's assignment dated 12.04.02 (including its interest by virtue of it being an assignee under the charterer's assignment of dof rederi's right title interest and benefit in and under the charterhire account. See the mortgage charge document for full details.

Transactions

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Third priority deed of asignment of insurances

Created on 24 Apr 2002

Delivered on 13 May 2002

Status outstanding

Persons Entitled

Dof (UK) Limited

Amount Secured

All monies due or to become due from allco finance (UK) limited to the chargee under the terms of the aforementioned instrument creating or evidencing the charge

Short Particulars

Assigns all of the right title and interest present and future of the mortgagor in to and under the insurances in respect of the vessel "skandi foula". See the mortgage charge document for full details.

Transactions

Third priority ship mortgage

Created on 24 Apr 2002

Delivered on 13 May 2002

Status outstanding

Persons Entitled

Dof (UK) Limited

Amount Secured

All monies due or to become due from allco finance (UK) limited to the chargee under the terms of the aforementioned instrument creating or evidencing the charge

Short Particulars

All of "skandi foula" (the vessel) registered in the norwegian international ship register at the port of bergen in the name and ownership of the mortgagor and the vessels various parts and appurtenances of whatever kind including future acquisitions cf the maritime act (norway) section 45.

Transactions

A second priority norwegian mortgage

Created on 24 Apr 2002

Delivered on 09 May 2002

Status outstanding

Persons Entitled

Lloyds Tsb Equipment Leasing (NO2) Limited

Amount Secured

All monies due or to become due from the company, allco finance (UK) limited and dof asa to the chargee under the terms of the aforementioned instrument creating or evidencing the charge

Short Particulars

The various parts and appurtenances of whatever kind including future acquisitions (cf.the maritime act (norway) section 45) in the ship named the M.V. "skandi foula" with official number laum 5 registered in the norwegian international ship register.

Transactions

First priority norwegian ship mortgage

Created on 24 Apr 2002

Delivered on 09 May 2002

Status outstanding

Persons Entitled

Lloyds Tsb Bank PLC

Amount Secured

Gbp 75,000,000 due from allco finance (UK) limited and dof asa to the chargee under the terms of the aforementioned instrument creating or evidencing the charge

Short Particulars

The nis flag vessel M.V."skandi foula",registered in the norwegian international ship register with all parts thereon. See the mortgage charge document for full details.

Transactions

Deed of general assignment and covenant (the parties are defined therein)

Created on 15 Apr 2002

Delivered on 26 Apr 2002

Status outstanding

Persons Entitled

Lloyds Tsb Bank PLC

Amount Secured

All monies due or to become due from any of the security parties to the assignee or any of the beneficiaries (all as defined therein) under the terms of the aforementioned instrument creating or evidencing the charge

Short Particulars

All right title and interest in and to the "assigned property" (as defined therein), the vessel, the owner's current account and the partnership nok account. See the mortgage charge document for full details.

Transactions

Debenture

Created on 12 Apr 2002

Delivered on 26 Apr 2002

Status outstanding

Persons Entitled

Lloyds Tsb Bank PLC

Amount Secured

All monies due or to become due from or by any of the security parties to the security trustee and the beneficiaries (all as defined therein) under the terms of the aforementioned instrument creating or evidencing the charge

Short Particulars

A floating charge each and every part of the undertaking (as defined therin). See the mortgage charge document for full details.

Transactions