Deposits in sterling made from time to time and also foreign currency and foreign currency securities by the company with morgan guaranty trust company of new york pursuant to the agreement referred to in column (1) hereof.

For securing us $1,000,000 together with the commitment commission reffered to therein.

First specific charge over the sterling deposited by the company with the chargee pursuant to the agreement.

Us $1,500,000 or the equivalent in foreign currency & all other monies due or to become due from the company to the chargee.