Any moneys which may be payable to the company in accordance with the terms of any of the security documents (other than any moneys which are to be paid to the company in accordance with the terms of the security document without first being applied against the outstanding indebtedness (as defined in the deed and form 395). see the mortgage charge document for full details.

All rights title benefit and interest in and under the performance guarantee (as defined) including all rights to make demands and receive payments thereunder and all moneys payable by the performance guarantor (langham industries limited). See the mortgage charge document for full details.

All rights title and benefits in and under the refund guarantee (as defined) including the right to receive payments thereunder and all monies payable by the refund guarantor (lloyds bank PLC) to the company.

All rights title benefits and interest in and under the "contract" being the building contract dated 12 december 1995 (as defined) including the vessel being the hopper trailing suction sand and gravel dredger k/a yard no. As 169 and all her engines and equipment and all moneys payable in repect of the insuarances under the contract. See the mortgage charge document for full details.

64/64TH shares of and in the M.V. "city of cardiff" registered as a british ship at the port of cardiff with o/n 730435.

All the companys right title and interest in and to the vessel "city of cardiff" o/n ;-730435, the insurances and the owner's earings. See the mortgage charge document for full details.

64/64TH shares of and in the M.V. "city of cardiff" registered in the name of the company as a british ship at the port of cardiff with o/no 730435.