28 November 2011

Short-Term Deferred Incentive Plan

Under the terms of the Company's Short-Term Deferred Incentive Plan(the "Plan"), thefollowing Director hastodaybeen granted an award in respect of the year to24 September 2011under which part of their annual bonus has been deferred into a conditional award of ordinary shares of the Company (the"BonusShares").

The Board has determined that 50%of the annual bonus awarded to Tim Jones will be deferred into ordinary shares ("Bonus Shares"). The balance will be paid to Tim Jones through Payroll.

The Bonus Shares will be released in two equal tranches 12 and 24 months after deferral.

Bonus Shares
First Release Date
Second Release Date
Tim Jones (Director)
28 November 2012
28 November 2013

Denise Burton

Deputy Company Secretary

Tel 0121 498 6514