Corporate Action

Cohen(A.) & Co PLC
23 May 2001

RIGHTS ISSUE
SECURITY TITLE
*Ord Shs
MNEMONIC CODE       *CHEN
SEDOL CODE          *208-008
TERMS               *6 New Ordinary Shares of 20p for every 1 (Post-            
                     Enfranchisement) Ordinary Share held at 25p per share.
DEALINGS COMMENCE NIL PAID *12-06-01
PROVISIONAL EX DATE *12-06-01
RECORD DATE         *08-06-01
SPLITTING NIL PAID  *28-06-01 3:00pm
ACCEPTANCE DATE &
RENUNCIATION        *02-07-01 3:00pm
NOTES *