General information

The £240 million 3.95% Convertible Bonds bonds were issued on 16 October 2003. The bonds are uncertificated and held in global form. Currently there are £111,285,000 of the bonds outstanding.

Full details of the issue are given in the Offering Circular, section 2 of which contains the full Terms & Conditions applicable to the bonds. The Terms & Conditions are also available as a separate document. Minor amendments to the Terms & Conditions were made as advised in a Notice to Bondholders issued on 21 December 2004, the full text of which is available on this page to download.

Interest is payable half-yearly in arrears on 31 March and 30 September. The Bonds are redeemable at par on 30 September 2010.

Conversion

The bonds are convertible into Liberty International ordinary shares at a current conversion price of £8 per share (i.e. £1,000 nominal of bonds will convert into 125 ordinary shares). Conversion is by delivery of a completed conversion notice to the Principal Paying & Conversion Agent, who is

HSBC Corporate Trust & Loan Agency
Level 24, 8 Canada Square
London EC14 5HQ

Telephone: 020 7991 8888
Fax: 020 7260 8932/8086
Email: mtn@hsbc.com

The bonds being converted are held to HSBC’s order within the relevant clearing system pending conversion and cancellation.

The Trustee for the Bonds is:

Deutsche Trustee Company Limited
Winchester House
1 Great Winchester Street
London EC2N 2DB