TABLE A - REGULATION 32/33

SALE OF FORFEITED SHARES

1. Subject - Sale of forfeited shares.

2. Passing Authority - Board of Directors.

3. Nature of the Resolution(s) - Reksolution with simple majority.

4. Specimen Resolution(s):

"RESOLVED THAT: Mr.H, a director of the company be and is hereby authorised to sell the above mentioned shares at the ruling market price and to execute deeds of transfer in connection therewith. That new share certificates be issued in respect of the abovementioned shares whenever necessary, such issue to be under the seal of the company and signatures of any two directors and counter-signature of Secretary of the company."

5. Guidelines:

1) The Board may cancel the forfeiture at any time before sale.

2) The company cannot re allot the forfeited shares resulting in discount except under section 74.

3) The company should take steps to recover the money due on forfeiture within 3 years to prevent limitation.

4) Having regard to the Articles, the directors are not obliged to sell or ascertain the value immediately after forfeiture.

5) The surplus sale-proceeds remaining after adjustment of amounts due can be shown as Capital Reserve.

6) The member whose shares are forfeited ceases to be a member and to be liable to pay future call.

7) Where the Articles so provide a member may continue to be liable to pay the calls remaining unpaid.

6. Filing--Not applicable.