6th May 1998 TO ALL MEMBERS Dear Sirs, CLASS 5 PROTECTING & INDEMNITY SUPPLEMENTARY AND RELEASE CALLS At its meeting on 29th April 1998 the Committee reviewed the Supplementary and Release Call position for each open year. The Committee concluded that the Supplementary Call for 1997/98 could be reduced to 30%, from the initial estimate of 40%, reflecting the Association’s continuing strong financial position. The following decisions were made: 1995/96 All Supplementary Calls have been levied. The Committee authorised that the Release Call rate should remain at 10% pending resolution in October 1998 that the year can be formally closed. 1996/97 The 40% Supplementary Call was levied in 1997 but the year must remain open for International Group purposes until 1999. The Release Call rate has been reduced from 20% to 10%. 1997/98 As noted above, the Committee determined that the Supplementary Call, originally forecast at 40% of Advance Call, should be reduced to 30% and be levied in August 1998. Members are advised that no further Supplementary Call is expected. The Release Call rate has been reduced to 50% until August 1998 and will thereafter reduce to 20%. 1998/99 The Supplementary Call estimate remains at 40% with the Release Call rate continuing at 60%, as advised in the Association’s Circular (5:242) of 8th December 1997. Yours faithfully, A.BILBROUGH & CO. LTD. (MANAGERS) 5:253