29th June 2000

Date and time: 8.50pm 29th June 2000

Venue: Mark's Place, Frampton-On-Severn

Attendees: John Peprell
Andy "Cobbs" Robinson
Mark Nicholls
JP Nicholls
Bob Taylor

AGENDA

1. Bank and Broker progress

2. Alien members

3. Selling an buying triggers

4. Suggestions for first investment

5. Next Meeting

MINUTES

1. Broker - Charles Schwab fine since they have good charges for shareclubs, and 1st 30 days free. Forms signed by all attendees. HSBC account - some confusion as to whether the account was suitable since HSBC makes charges. Business account is free of charges for 2 years, so we'll still use them.

Needs 2 signatures on the account. John and Mark to be the signatories.

Attendees to give John cheques/cash for £23.25 to cover start-up costs.

Attendees to give John cheques for £200 to open up bank account.

2. Aliens can join without the initial £200, but buying new share blocks will only happen at meetings and when we have a minimum £500 in the pot.

3. Selling and buying triggers If meetings only every couple of months we won't be able to react quickly to share price changes. To avoid this specify a price at which we sell, and agree each month on the trigger price for each block of shares. Suggest that we sell if they drop by 15%. Increased share value sell point to be agreed based on share. At each meeting we agree a buy price for the shares we have agreed on.

4. Companies to consider and investigate before next meeting:

Pilkingtons (Bob) look good, and in optical fibre market.