Exhibit 10.1
                                 Lloyds TSB Corporate

                                 Lloyds TSB Bank plc
                                 P O Box 908
                                 125 Colmore Row
                                 Birmingham            Telephone:  0121 625 6746
                                 B3 3AE                Facsimile:  0121 212 0861

                                                       Reference:

                                 2nd March 2005

The Directors
Timet UK Limited
PO Box 704
Witton
Birmingham
B6 7UR

Dear Sirs,

We refer to a letter  dated 20th  December  2002 as amended by our letter  dated
19th December 2003 and 11th November 2004  (together the "Facility  Letter") and
to the  security  documents  required to be effected  thereby from time to time.
Pursuant to the foregoing we agreed to make  available to you loan and overdraft
facilities of up to (pound)22,500,000.

We hereby confirm that with effect from the Effective Date and provided that the
Effective  Date  occurs not later than 2nd April 2005 the  following  amendments
shall be made to the Facility Letter:

1.   the definition of "Commitment Termination Date" contained in Clause 1 shall
     be amended to read "means 31st May 2005 or such later date as may from time
     to time be agreed pursuant to Clause 2.5 hereof".

All  other  terms  and  conditions  expressed  in  the  Facility  Letter  remain
unaltered, and from the Effective Date the Facility Letter and this letter shall
be construed as one agreement.

The Effective Date shall be the date upon which we shall have received and found
in order:

(a)  a copy of this letter duly signed by you in  acceptance  of the  amendments
     contained herein;

(b)  a  certified  copy of your  board  resolution  approving  the terms of this
     letter  and  authorising  a person or  persons  to sign on your  behalf the
     acknowledgement appearing on the duplicate copy of this letter; and

(c)  if not already in our possession, duly authenticated specimen signatures of
     the person(s) so authorised.


Yours faithfully,
For and on behalf of Lloyds TSB Bank plc


/s/ James Benyon
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James Benyon
Senior Relationship Manager
Lloyds TSB Corporate