ATTENDEES

Keith Sawyer – Club Chairman

Martin Sadler - Club Treasurer

Peter Coles - Club Secretary

Harry Oranin

Brian Hough

Apologies from absent members.

CHAIRMANS REPORT

Nothing to report shares stable at present.

A stop loss is now in operation on all new shares all original shares are seen as long-term investments.

TREASURERS REPORT

Confirmed stop loss is operating on Bradford & Bingley Bank & Tesco.

The BT Rights issue was brought with the money from our admin kitty.

AMENDMENT TO RULES

Proposed amendment: - Any member can suggest share purchases to the meeting although he should have done a reasonable amount of research into the particular share & the company. After discussion a short list of shares to be voted on shall be drawn up (i.e. about 5 or 6 shares).

All members then present at the meeting shall have two votes to cast although he should not cast both votes on the same share. After voting the share with the most votes will be bought at the earliest opportunity. In the event of a draw the tied 2 shares will go to a second round of voting with each member having 1 vote. In the event of another tie the chairman shall have the casting vote.

This amendment was put to the vote & all attending members agreed to this ruling.

BBB: - Share doing well on the away up. The next interim company share report will be at the end of August.Members voted to hold shares.

Car Phone Warehouse: - Show an increase in their sales at present. Members voted to hold shares.

BT: - Stable at present good vibes felt about share on stock market. Members voted shares as long term investment possibly 2 years.

CUBE8: - Bought at £165 worth £8 now. Members vote to hold.

Psion: - Big loss. Members voted for long-term holding.

Tesco: - Sable at present. Good write-ups. Members voted to hold.

Vodafone: - Another long-term investment. Members agreed to sell if the shares reached a price of £2.

Next Purchase: - Proposed shares, BP, JJB, ARM HOLDINGS, HAYS.

After vote BP was voted as 1^st buy of approx. £990 ASAP with stop loss set at 20%. Harry Oranin has agreed to be share champion.

JJB was voted as 2^nd buy of approx. £990 as soon as funds avaliable with stop loss set at 15%.

Share champion to be Garry Chaplin

ANY OTHER BUSINESS

Concerns were raised about stop losses for shares well below what would have been their stop loss, members agreed more discussion is required before any action taken.

ACTION POINT: - For Harry Oranin to arrange new e-mail address before next meeting.

Can more members please take an active role in researching different sectors of business before the next meeting .Thank You.

NEXT MEETING

Chairman Keith Sawyer to arranged on a Monday – Wednesday in November.