Charges

Security interests and charges registered against the company

1 Outstanding 1 Satisfied

Outstanding Charges

Mortgage of shares #2

Outstanding

Created On: 4 Mar 2005

Delivered On: 15 Mar 2005

Persons Entitled:

Sumitomo Mitsui Banking Corporation Europe Limited As Agent And Trustee For The Secured Finance Parties (the Security Agent)

Particulars:

All the shares including all related rights, floating charge all its assets. See the mortgage charge document for full details.

Secured Details:

All monies due or to become due from each obligor to any secured finance party on any account whatsoever under the terms of the aforementioned instrument creating or evidencing the charge

Satisfied Charges

Mortgage over shares #1

Fully Satisfied

Created On: 28 Jun 2002

Satisfied On: 18 Mar 2005

Persons Entitled:

Abbey National Treasury Services Plc

Particulars:

Two £1 ordinary shares in babcock & brown (tower hamlets schools) limited, two £1 ordinary shares in east london schools limited and two £1 ordinary shares in th (11TH floor) limited together with all stock, shares, warrants, securities, rights, moneys or property accruing or acquired at any time and from time to time by way of redemption, purchase, bonus, preference, option or otherwise to or in respect of or derived from all or any of the shares.