Liquidation Update

EDINBURGH JAVA TRUST PLC Following the appointment of the Interim Liquidator to the Company on 8 May 2002 it is intended, in accordance with the provisions of the Insolvency Act 1986, to call meetings of members and creditors of the Company to be held on 7 June 2002. The purpose of the meetings is to choose a person (who may be the Interim Liquidator) to be Liquidator of the Company in place of the Interim Liquidator. It is anticipated that an initial distribution to shareholders will be made shortly after the meeting and it is estimated that this will be approximately 4.74p per share. Sufficient sums will be retained by the Liquidator to meet any actual and potential expenses with any residual balance being distributed to the shareholders as a final distribution. For further information please contact: Mr Alex Gowans, Director, Edinburgh Fund Managers plc Tel: 0131 313 1000 17 May 2002 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/05/17/20020517BIT00790/wkr0001.doc http://www.waymaker.net/bitonline/2002/05/17/20020517BIT00790/wkr0002.pdf