Statement of directors'

responsibilities

Company law requires the directors to prepare financial statements for

each financial year which give a true and fair view of the state of affairs

of the Company and the Group as at the end of the financial year and of

the profit or loss of the Group for that period.  In preparing those

financial statements, the directors are required to:

  select suitable accounting policies and then apply them consistently;

  make judgements and estimates that are reasonable and prudent; and

  state whether applicable accounting standards have been followed.

The directors are responsible for keeping proper accounting records which

disclose with reasonable accuracy at any time the financial position of the

Company and the Group and to enable them to ensure that the financial

statements comply with the Companies Act 1985.  They are also

responsible for the Group s system of internal financial control and for

safeguarding the assets of the Company and the Group and hence for

taking reasonable steps for the prevention and detection of fraud and

other irregularities.

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