Date and time: 6pm 12th March 2005

Venue: Pablo's house

Attendees:    Andy "Cobbs" Robinson
                    Paul "Pablo" Tompsett
                    Mark Nicholls
                    JP Coetzee
                    Mark de Hora
                    Brett Ireson

AGENDA

1. What we've sold
2. Current prices
3. Dividends
4. Adjust buy/sell
5. Paperwork
6. Homework
7. Voting
8. Next Meeting
9. AOB

MINUTES

1. What we've sold

SVT made 20% plus the divis.
PILK made 20%.
CPK lost 20%

2. Current prices

Overall profit/loss

BAA +3%
BDH +16%
CW -50%
FTC.L -10%
FWAY -5%
MTO +5%
SMIN +15%
SPW -4%
WOS -7%
XAAR +10%

3. Dividends

WKP £8.02
CW £12.39

4. Adjust buy/sell

No.

5. Paperwork

No.

6. Homework

Cobbs recommended BPB make plasterboard and other construction eqpt. Chart risen 400-500 over 8 months steadily rising. Many broker recommendations. 2.7% divi which we have just missed.

Selling globally. 5B 2S. 73% EU 22% USA ROW 5%. PE

Pablo recommended Bloomsbury Publishing. Harry Potter! New book July; divi July 0.68% forecast. 5% growth in book sales last year. Graph rose rapidly since Nov 04 dipped recently. 5B, 2H, 0S. PE 19.

Mark dH recommended Ottakars. Book retailer, set up in market towns. Offer schemes to get people into their shops, coffee bars, reading for kids etc etc. Shares rose x10 over 3 years, fell recently due to internet investment (new website).  Telegraph recommended getting in now, new finance manager should make a difference. Expected divi 2-3%. PE 13. 2B 5N 2B.

Mark dH recommended Monsoon, very popular high st clothing shops. Own Accessorize. Shares risen 100% in a year, graph still rising. Director owns 60% of company. Expected growth 20% this year. Expected PE 15. 2B.

7. Voting

We voted on all the above. We have £3795 to spend. We will spend

£3000 in 2 lots of £1500 and leave some for next time.

BPB and Bloomsbury won. Mark will buy on Monday, +/-20% high/low

sell.

8. Next Meeting

April 23rd at Mark N's place, partners invited, stay over.

9. AOB

Brett raised subscription to £75/month.

ACTION ITEMS

Action 1. Track dividend totals.

Action by: Cobbs

Action 2. Sort out Yahoo dealer recommendation weightings. What

do they mean?

Action by: JP

Action 3. Can we buy foreign shares? Check on

Action by: Mark de Hora

JP Coetzee