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FORM TO BE USED TO GIVE INSTRUCTIONS TO AUCTIONEERS
TO VALUE ASSETS

INSTRUCTION SENT TO: _____________________________ DATE: ___________________________

RE: OUR CLIENT: NAME: ______________________________________________________________

ADDRESS: _________________________________________________________________________

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Tel no: ____________________________________________ Fax no: __________________________

Your Contact at clients: ________________________________________________________________

1. Please value the assets of the above business which we understand consist of the following the categories:

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2. One valuation is to be on a forced sale basis to determine the net realisable value of the assets if the sale
was to be by way of auction.

3. The second valuation is to be an open market valuation. Please advise how you would recommend the
assets be sold to achieve a realisation based on open market valuation and the costs involved.

Please note that if the directors of the failed company wish to purchase the assets, they must be clearly
advised by you that such a sale can only be at market value and not based on forced sale valuations.

The directors should also be advised that it would be a "preference" within the meaning of Section 239 of
the 1986 Insolvency Act to:

convert floating charge assets (the assets now being valued) to a fixed charge asset (the debt created by any
sale of the assets). The value of the assets must be made available for the preferential creditors.

Any "sale" of the assets can only go ahead on such understanding.

* The directors should also be advised that the "property" in any assets sold will not pass until payment is
made in full.

4. Please confirm that your firm is experienced in valuing the types of asset subject to this valuation. If you
intend instructing a specialist to be used, please advise us of the name, address and telephone number of
that specialist and the fees they will charge if instructions are to be given.

5. In relation to finance agreements, we understand that:

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Please determine the amount outstanding on each of these agreements and any others you identify during the
course of undertaking the valuations and then report to us.

6. Please advise if there is a danger of any landlords distraint or distress by any other party which would
necessitate the removal of the assets at an early date.

7. Please comment on the security arrangements and the steps you recommend and the estimated cost of
carrying out those recommendations.

8. Please let us have a written response to paragraphs 1 - 7 above within seven days of this instruction.

9. In relation to your costs for undertaking this work

10. Please obtain a written statement from the client that:

10.1 They have identified and pointed out to you all stock owned by them.

10.2 They have identified and pointed out to you any stock owned by third parties held on the premises.