Directors Present: Simon Arnold (Chairman) Sue Willis Angela Brown

Shareholders Present: See Appendix A attached.

Ron Coverson Christoph Noebel Mina Bowater

In Attendance: Paul Ingram Cohn Cohen Jonathan Channing (David Glass Associates)

The minutes of the previous Annual General Meeting were agreed (Proposed: Ron Coverson; Seconded: Chrisoph Noebel) as a correct record of the meeting with the exception of the word "agreed" being substituted for the word "suggested" in the fifth paragraph of item 1. It was also agreed that the minutes of this meeting would be sent to attendees within two months.

Simon Arnold reported that there had been two important occurrences during the previous year:

Serv-Estate Limited (Managing Agent) had transferred the contract that it had with the Company to David Glass Associates Limited. Simon Arnold told the meeting that the Board had no choice to accept the position in the short term. However, the performance of David Glass Associates would be monitored to ensure satisfactory performance against a clear brief given to them by the Board. He reminded the meeting that both the Company and David Glass Associates shared a common interest in the arrangement succeeding.

Simon Arnold told the meeting that, in the early months of 1999, it was expected that many thousands of revellers would come to London Yard to celebrate the New Year and new millennium and to watch the celebrations on the Thames and at the Dome. It was clear that the Company had a responsibility to protect its property and that of its leaseholders. To do this it was considered necessary to employ more security guards at considerable cost. At this time the restaurant, Mem Saheb, proposed to set up a marquee on the lawn behind Frans Hals Court. In return for being allowed to do this Mem Saheb would pay a licence fee to the Company which would cover the cost of the additional security and also fund a grandstand which was to have been reserved for the use of residents and their guests. In April 1999 the Board wrote to all shareholders setting out the position and stating that they were minded to accept the offer. Of the 300 plus shareholders only three written objections and one fax was received. In light of this, the Board proceeded to draw up the necessary contracts with Mem Saheb and book a grandstand for which a deposit of £750 was paid. In November two events occurred; Mem Saheb decided not to proceed with the planned event and the grandstand company went into liquidation, By this time it was clear that no activities were planned on the Thames near London Yard and, therefore, the threat of damage to property had diminished. The liquidation of the grandstand company released us from hiring the contracted grandstand but it seems unlikely that, other than a small token, repayment of the deposit will be received. Happily the New Year was celebrated without damage to property on London Yard and with a small addition to the security staff.

During his report, Simon Arnold allowed questions from the floor of the meeting. During these interjections Simon Arnold gave assurances on the monitoring of the performance of David Glass Associates and accepted that the communication between the Board and shareholders could have been better during the year. He also reported on the upgrading of the television aerials for On Digital reception in the continued absence of cable.

One question was received regarding the Annual Accounts concerning the level of the sinking funds. Simon Arnold agreed to have these levels verified although he had previously been assured that they were more than adequate.

The Director's Report was accepted and the Annual Accounts adopted. Proposed: Simon Arnold, Seconded: Christine Inglis.

Simon Arnold proposed and Mina Bowater seconded the appointment of N. R. Pulver as the Company's auditor. This was agreed by the meeting.

Simon Arnold asked the Directors offering themselves for re-election and the shareholder offering himself for election as a Director to say a few words about themselves and answer questions. In response to an enquiry regarding the relationship of Clive Hawkes with David Glass Associates, Paul Ingram stated that David Glass Associates had no objections to Clive Hawkes being a director. Clive Hawkes stated that should, in the unlikely event of a conflict of interest arising, he would withdraw from any discussion appertaining to it. After this the meeting was asked to vote on their election which they did as follows:

In response to a general question regarding the operation of the Parking Scheme, Ron Coverson explained the Council's policy on parking space allocation and the operation of the London Yard scheme.

The level of security and car crime was discussed and the cost of extending the hours covered was given by Ron Coverson. Mina Bowater told the meeting that crime on both the Isle of Dogs in general and London Yard in particular was very low relative to other areas of London.

Dissatisfaction with the postal service was expressed and also the Council's practice of leaving electoral registration forms inside block entrances was criticised.

Anthony Wicks suggested that a London Yard Web site would help improve communications.

Detailed points regarding water damage in Vermeer Court and carpet renewal in 65-85 Amsterdam Road were passed to David Glass Associates for action. Cohn Cohen, David Glass Associates, also reported that he intended to review the performance of the gardening contractor.

The meeting closed at 10.55 p.m.

Ron Coverson

Board Secretary

25^th January 2000