Lynch Sales Company

Chadd's

Hereford & Belfast, Northern Ireland

August 29, 2006

Gareth Price
Divisional Manager
Daniel Lynch Sales Company
1 Stanley Road
Emsworth
Hampshire

Dear Gareth,

As you know, our Refurbishment Sale ended yesterday and we are now beginning the task of returning to something like normal. The sale has been a huge success, and we have beaten the original turnover estimate by over £300,000. Even those who initially doubted our ability to raise our game to the extent required – and there were a few of them at all levels of the business – have been completely won over. The list of benefits emerging from the last month meanwhile, is long indeed and I am delighted we took the plunge.

Perhaps I can save a special word for the efforts of Mel Dunn and Lyndon Richards, who have been an inspiration to the staff here. Their expertise in terms of stock movement, department changes and pricing has been evident from Day One. But what has really impressed us has been their leadership and their appetite for hard work. The staff really responded to their encouragement, not to mention their willingness to roll their up sleeves up and do the heavy work. They have truly led from the front, and I am speaking for all Chadd’s staff when I say that it has been a privilege to work with them.

I am sure that we shall have future opportunities to work with you. Meanwhile, thank you for all your advice and support in what has clearly been a mutually successful enterprise.

With best wishes,

Yours, sincerely

Peter Butt