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Dow Schofield Watts LLP 7700 Daresbury Park Daresbury WA4 4HS 24 October 2008 Dear Reader, Dow Schofield Watts was established by three founding partners in October 2002 to provide an independent partner led and executed corporate finance service. Our business is focused on providing corporate finance advice to growing businesses in both the public and private markets. The core activity of the practice is advising on corporate transactions often involving an institutional fund provider or an owner manager We know what we are doing: the partners of Dow Schofield Watts have in excess of ninety years of combined corporate finance experience  in a wide variety of industries and have advised on transactions ranging in value from below £1 million to in excess of £100 million. We have advised on 56 completed transactions with a combined value of £1.647 billion. We are very successful because we are committed to delivering the best possible result for our clients and because it's our business (we have no external funders or backers) we are accessible, responsive and proactive. We are ambitious and we want our client's to succeed. Yours sincerely   James Dow