POST MEETING

Drop Shire Pharmaceuticals price 5% and wait until next week before we decide to sell. Mark will confirm via email.

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Minutes of Meeting of The Investment Team Shareclub

Date and time: 8.00pm 08 February 2002

Venue:     JP's house

AGENDA

1. Current prices

2. Adjust buy/sell

3. Homework

4. Votes

5. Next meeting

6. AOB

MINUTES

1. Current Prices

CW -33%
MTO +8%
TLW +16%
CW -15%
SHP -25%
EZJ +6%

2. Adjust Low/Sell

CW now 232, move to 199

SHP Sell! Sell! Sell!

We sold RBOS, made 16%

3. Homework

Bob recommended more Cable and Wireless, but they've issued profit warning???

Tim recommended BAA Systems we assume this is BAA? 11 buys, 2 holds, 3 sells. Recently performed well, PE 19.34 vs Transport avg 16.34

Mark recommended Pizza Express, ex-dividend next week. Always give good dividend. Recently taken over Cafe Pasta. Highly-rated management.

Cobbs recommended AGA Food Services. Ex-dividend in March? 3 strong buys, 5 holds, 1 moderate sell, 1 strong sell. Graph low post Sept 11, now up and down, looks like it's on the way up. PE 17.32 vs Eng average of 10.69.

Cobbs recommended CGNU, long-term savings, fund management. 5% dividend. 9 SB, 4 MB, 8H, 1 MS, 1 SS. Ex-div 28 March.

Pablo recommended Fitness First. People joining clubs a lot these days. Expanding, turnover rising well. 5 SB, 4 MB, 4H. PE 25 vs sector average 15. Graph steady.

Pablo also recommended Crest Nicholson, property management. Dividend 8/234. Ex-dividend March. 5SB, 1 MB, 1H, 1 MS. Profits up 10%. But are house prices going to keep rising?

John recommended Tomkins again. See last month. Good dividend - 6%. Ex-div March.

John also recommended Serco, facilities management. Dropped 8% today. Graph steady, PE 46.38 vs sector avg 19.89

JP recommended South African Breweris SAB. Rapidly expanding outside South Africa, especially in China where they sell 2 out of 3 beers sold. Friendl merger with S+N/ Miller will create worlds biggest brewery. PE 13.22 vs sector 17.56, dividend 5%, ex-div August.

Graph steadily rising.

4. Votes

We voted on PIZ, AGA, BAA, CGNU, FTF, CRST, TOMK, SAB, CW.

SAB won. We will buy £1000 on Monday.

5. Next Meeting

Mark's place. 22nd March 2002, bring mountain bikes.

6. AOB

Brett's email brettireson@hotmail.com

Update contrib to £30.

Mark to put dividend site linkon web page.

ACTION ITEMS

Action 1. Homework

Action by: All

Action 2. Contribs to £30

Action by: All