1998 at the "Function Room". The Pier Tavern. Manchester Road. Isle Of Dogs. London. E14

- commenced at 7:30 p.m.

(*) Sue Willis * = Directors

Shareholders

Present: see Appendix "A" attached.

Also Present: Clive Hawkes, Serv-Estate Limited - Managing Agents

A resident raised a query with regard to paragraph 1 of the minutes. After much debate of this paragraph₁ it was suggested, and the residents concurred, that it was best to move on.

With regard to 5(e), SA pointed out that line 2 should read "resign from the company".

With regard to 4 paragraph 4, line 2 SA pointed out that reference should be to CH and not CN as shown.

With these amendments, RC Proposed with CN seconding and on a show of hands, the minutes were approved.

It was suggested that it would be useful for the minutes to be prepared early on and circulated at least to those who had attended a particular meeting for any comments prior to their being circulated in readiness for the next AGM.

The Chairman spoke to his "Chairmans Report" (attached) which was circulated at the meeting.

SA pointed out that the accounts included the £55,000 received from the LDDC in respect of the transfer of the car park and Amsterdam Road to LYMC. SA further reiterated that a stronger stance was being taken in respect of debtors.

A resident enquired as to whether the cost of providing pictures was allocated specifically to the Block (5) where they had been placed. CVH confirmed that the costs were so allocated.

A further resident suggested that the interest attributable to the monies received in respect of the Freehold purchase should be shown separately in the accounts. SA confirmed that all of the costs and interest earned would be separately ring fenced in the next set of accounts.

Enquiry was made as to why the printing and stationery costs had risen. CVH advised that there had been a higher degree of communication with the residents particularly in respect of parking. Further, the costs included the provision of parking permits, the literature associating with same, and the provision of special signs in connection therewith.

With these comments made, SA proposed with Ms Lewinski seconding the proposal, and on a show of hands, the accounts were unanimously approved.

CN proposed with RC seconding that the auditors be re-appointed. On a show of hands it was agreed that the auditors be re-appointed and that the Directors be authorised to fix their remuneration.

SA advised that both Peter Simms and Joyce Coster were both by rotation coming up for re-election at this Annual General Meeting. Both however were offering themselves for re-election. Unfortunately_, both were unable to be present at the Meeting and had sent in their apologies. Both were long established Directors of the Management Company. Concern was raised that these Directors should be present. CVH pointed out that in the case of Peter Simms, his absence was due to ill-health and was in no way a reflection of his lack of interest.

SA proposed with RC seconding the proposal that PS be re-appointed to the Board. On a show of hands. P8 was re-appointed by a majority. There were three abstentions. PS was accordingly re-appointed to the Board.

SA proposed with RC seconding the proposal that Joyce Coster be re-appointed to the Board. On a show of hands. Joyce Coster was appointed by a majority. There were five abstentions.

A resident suggested that he would like to see more of the Directors throughout the year. SA advised that the main work of the estate was delegated to the Managing Agents who were of course there to answer any questions that might arise from residents throughout the year. Whilst that was noted, the concern was about voting for someone who was perhaps unknown

· It was suggested that perhaps a profile of each director could be put in the newsletter just prior to the Annual General Meeting. SA advised that RC and Angela Brown (a new director) had been working on a new format for the newsletter. It was hoped that the new format newsletter would assist in raising community awareness etc. In this regard Mr Sewell offered to assist with the newsletter if that would be helpful.

With the above said, SA advised that during the course of the year Angela Brown and Sue

Willis had both been co-opted to the Board and in accordance with the Memorandum and

Articles of Association, needed to be formally approved by the AGM.

Sue Willis, who was present, advised that she had lived in Amsterdam Road for some 10½ years. She brought a lawyers background and was committed. She enjoyed living at London Yard.

Sue Willis noted the residents’ wish to facilitate themselves with a greater say in the day-to-day running of the estate. As a lawyer, she felt obliged to point out that the Directors were not in their role acting as representatives but had a formal role as Directors of the company. This was not to say of course that residents could not raise points with Directors.

With this said SA proposed the re-election of Sue Willis to the Board with Michael Broadbent seconding the proposal. On a show of hands. Ms Willis was unanimously re -appointed to the Board.

SA advised that he had received apologies from Angela Brown that due to work pressures she was unable to attend. This was due to the particular nature of her business which required her to quite often work late nights and at short notice.

That said, SA proposed the re-election of Angela Brown to the Board with RC seconding the proposal. On a show of hands the majority were in favour but with a number of abstentions.

SA advised that through his chairman's report, he had tried to emphasise the problems of bringing in the new gardeners. It was however felt that the estate was beginning to show signs of improvement.

One resident advised that she felt that the Van Gogh lawns had not been addressed for upgrade. Further, the lawns continued to be used by non-residents. It was felt that the security guard should encourage such non-residents to "move along". SA pointed out that London Yard was not an estate with high fences and gates etc. SA felt that there was a reasonable balance between enjoyable living and being "hemmed in". Whilst there was no dear solution_, ideas were welcomed and they would be considered.

It was suggested that in the next newsletter volunteers be requested to come forward to assist the gardeners with the more labour-intensive projects.

Although covered in the chairman's report, SA wished to stress that the Board of Directors were not prepared to allow Cable and Wireless to dig up the estate until it was sure that there was sufficient capacity in the area to accommodate London Yard on the cable network. As an interim measure, the Board were investigating On Digital through the terrestrial aerial system.

CN suggested a greater heightening of awareness of London Yard by contact with the local media, particularly in view of London Yard's proximity to the Millennium Dome.

A resident advised that she had transacted the sale of her garage and had found the London Yard's solicitors to be very slow indeed and in doing so had brought about an increased cost for her. SA advised that the Board would contact the London Yard Solicitors and asked for an explanation as to why matters have taken so long.

There being no further business to discuss the Meeting was brought to a close.

Clive Hawkes

Serv-Estate Limited

Managing Agents for London Yard