5 May 2011 TO ALL MEMBERS Dear Sirs CLASS 8 FREIGHT, DEMURRAGE & DEFENCE DEFERRED AND RELEASE CALLS At its meeting on 13 April 2011, the Committee reviewed the Deferred and Release Calls position for each open year and reached the following decisions: 2008/2009 The Deferred Call was levied in 2009 at 30%. An Additional Call of 25% of the Estimated Total Cost for the year was set in October 2008, as advised in the Association’s Circular (8:086). This was payable in December 2009. The year will be considered for closure in October 2011. 2009/2010 The Deferred Call was levied in 2010 at 40% as originally estimated. 2010/2011 With effect from the 2010/11 Policy Year the Advance Call and the Deferred Call have been consolidated into a single Annual Call, as advised in the Association’s Circular (8:090). The Release Call rates for open years remain unchanged. Yours faithfully A BILBROUGH & CO LTD (MANAGERS) 8:094