April 29th 2006

Date and time: 8pm, 9th March 2006

Venue: Mark's House - Hereford

Attendees:     Paul "Pablo" Tompsett
                        Mark Nicholls
                        JP Coetzee
                        Andy "Cobbs" Robinson
                        Bret

AGENDA

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

MINUTES

1. What we've sold

Sold REH - lost 19%

2. Current prices

Unit price: 102.35

Selling Fee	12.00			Price	Total	29-Apr-06	Total
STOP ORDER			No	(p)	Invested	Bid	Worth	%	LIMIT ORDER
						Price
280	-20%	BBY	856	346.25	2963.9	359	£3,061	3%	50%	520
2350	-30%	CCL	45	3314.98	1491.74	2716	£1,210	-19%	30%	4350
1300	-20%	GOG	62	1608.26	£997.12	1874.00	£1,150	15%	30%	2110
340	-20%	HSP	474	421.62	£1,998.46	437.00	£2,059	3%	30%	550
43	-21%	ITH	3697	54.09	£1,999.79	59.00	£2,169	8%	21%	66
315	-20%	MCA	461	389.94	£1,797.62	497.00	£2,279	27%	40%	550
188	-20%	MJW	835	233.30	£1,948.09	315.00	£2,618	34%	49%	349.7
480	-20%	NG	333	598.90	£1,994.35	575.00	£1,903	-5%	30%	780
540	-30%	PUB	196	762.97	£1,495.42	877.00	£1,707	14%	30%	1000
1310	-20%	RBS	134	1630.72	£2,185.17	1790.00	£2,387	9%	30%	2130
950	-20%	SAB	170	1172.51	£1,993.27	1157.00	£1,955	-2%	30%	1530
1200	-12%	WOS	74	1340.58	£992.03	1372.00	£1,003	1%	37%	1850
1200	3%	WOS	86	1150.45	£989.39	1372.00	£1,168	18%	60%	1850

3. Dividends

None

4. Adjust buy/sell

GOG High Sell to 30%

WOS High Sell To 1700
WOS Low Sell to last buy price

5. Paperwork

MN dished out tax returns

6. Homework

This month's area is Health and Pharmaceutical.

Bob recommended Internuvon stem cell research. Long term punt. Gris has met them and likes them and their portfolio. Bob and Gris are investng themselves for their daughter.

Bob recommended pharmaceutical co Smith and Nephew. Boring but safe. Market down last 6 months but anticipated to improve late 2006. 7B 1H. Turnover œ4.8 billion. Divi 1.2%.

Dave recommended Dechra, pharmaceutical co supplying vet and human ethical pharma industry in UK and overseas. New econmy range. 2005 turnover increased 16% to 1.2million. Divi 2%. EPS 19. 2B 1H.

Brett recommended Pilkington glass but that's not what we asked for. He had to sit on the naughty step.

7. Voting

We voted on ReNeuron, Dechra, Smith and Nephew. ReNeuron won, Dechra second.

We have £2000 to spend, we will put all into one share. Mark to buy ReNeuron ASAP. Bob's recommended high/low sell.

** Bob set to -50% and no upper limit at this stage

8. AOB

Tax returns need for Mark Nicholls.

9. Next Meeting

Johnny P's house in front of the big telly with our shoes off, meeting before a football match. John to tell us what's a good day.

Any share.

ACTION ITEMS

Action 1. Homework

Any Share

Action by: All