Jpmorgan Claverhouse Investment Trust PLC

THE TOTAL AMOUNT PAYABLE BY THE COMPANY ("THE ISSUER") UNDER THE TRUST REFERRED TO BELOW,NAMELY THE PRINCIPAL OF,AND PRE MIUM (IF ANY) AND INTEREST ON,THE £30,00 0,000 7 PER CENT.SECURED BONDS DUE 2020 OF THE ISSUER (THE "EXISTING BONDS") AND ALL (IF ANY) FURTHER BONDS,NOTES,DEBENT URES OR DEBENTURE STOCK WHICH MAY BE CRE ATED AND ISSUED BY THE ISSUER (TOGETHER WITH THE EXISTING BONDS,THE "BONDS") AND ALL OTHER MONEYS INTENDED TO BE SECURED ,IN EACH CASE UNDER OR BY THE TRUST DEED S (WHETHER OR NOT SUBSISTING OR ENTERED INTO IN THE FUTURE) CONSTITUTING AND SEC URING THE BONDS

ALL OF THE COMPANYS OBLIGATIONS AND LIAB ILITIES TO THE BENEFICIARIES OF ANY KIND AND IN ANY CURRENCY (WHETHER PRESENT OR FUTURE ACTUAL OR CONTINGENT AND WHETHER AS PRINCIPAL OR SURETY OR INCURRED ALON E OR JOINTLY WITH ANOTHER) UNDER OR IN C ONNECTION WITH EACH OF THE FINANCE DOCUM ENTS

£5,000,000 11% DEBENTURE STOCK 2008 A ND ALL OTHER MONEYS INTENDED TO BE SECUR ED BY THE SUPPLEMENTAL TRUST DEED.

£10,000,000