Date and time: 9.00pm 10th May 2002

Venue: Cobbs' house

AGENDA

1. Current prices

2. Sold

3. Homework

4. Voting

5. Next meeting.

MINUTES

1. Current Prices

CW -44%

Dynamic Com Finance -6%

Easyjet -16%

Hilton 0%

Mitie -12%

SA Breweries +18%

2. Sold

Tullow made 19% profit since 19 March 2001.

-12% on stuff we've sold so far.

3. Homework

Bob recommends WPP (we've had them before). Signs that recession bottoming out in US - advertising will pick up quickly. SB4 MB7 H10. Ex-dividend 6th June.

Mark recommends CW. Has hit 200-mark, and is dirt cheap.

Mark recommends Severn Trent (Water authority). Graph high at the moment? 6% dividend, P/E 13. Tipped on Motley Fool.

Cobbs recommends Diego, distillation and marketing of whisky, also fast foods and alcopops etc (Smirnoff Ice - hit by budget?) Tipped by tipster's sheet (Cobbs' Dad) which says buy at 904. 2.5% dividend. SB7 MB4 H7 BS1 SS3. PE 25 vs sector average.

Pablo recommends Shire Phamrmaceuticals. Digital Look recommends - new druf for ADD could take the market? Price fell sharply in March (a drug failed), steadily rising since and hasn'treache it's previous level. Worth a punt?

Pablo recommends Matalan (cheap clothing). More people shopping in cheap places because they're getting designers in and improving quality. 17% share of that market. Recommended by sunday Telegraph. Graph fell Nov 01, steadily rising since. 2% dividend. SB5 MB7 H9.

JP recommends NXT Loudspeakers - pricehas fallen 18% in last month but strengths remain (see last month). SB1 MB4 SS2.

Jp recommends Next clothing. Up 8% in last month, PE 18 vs sector avg 16. SB5 MB14 H4 SS1. Turnover steadily rising.

4. Voting

We voted on CW, Severn Trent, WPP, Diego, Shire, Matalan, Next, NXT.

CW won. We will put £1000

5. Next meeting.

Horse racing meeting at Hereford - sort out meeting by email.

ACTION ITEMS

Action 1. Homework

Action by: All

JP Nicholls