EXHIBIT 4.22
CONFORMED COPY
STATEMENT AND WAIVER OF INTER COMPANY BALANCES
DATED 27 MARCH, 2003
MARCONI PLC
MARCONI CORPORATION PLC
THE TRADING COMPANIES LISTED IN SCHEDULE 1
AND
THE NON-TRADING SUBSIDIARIES LISTED IN SCHEDULE 1
AND
THE DORMANT SUBSIDIARIES LISTED IN SCHEDULE 1
ALLEN & OVERY
London
CONTENTS
PAGE
CLAUSE
1. Interpretation.................................................................................. 2
2. Target Subsidiaries............................................................................. 4
3. Statement of Intra-Group Loans.................................................................. 4
4. Acknowledgement of Liabilities.................................................................. 4
5. Waiver of Claims................................................................................ 5
6. Post-Effective Date Claims...................................................................... 7
7. Representations and Warranties.................................................................. 8
8. Costs........................................................................................... 8
9. Notices......................................................................................... 8
10. Assignment...................................................................................... 9
11. General......................................................................................... 9
12. Entire Agreement................................................................................ 10
13. Third Parties................................................................................... 10
14. Governing Law and Jurisdiction.................................................................. 10
15. Service of Process.............................................................................. 10
SCHEDULES
1. Initial Participating Companies................................................................. 11
Part 1 Initial Trading Companies............................................................ 11
Part 2 Initial Non-Trading Companies........................................................ 11
Part 3 Initial Dormant Companies............................................................ 11
2. Intra-Group Loans............................................................................... 12
Part 1 Intra-Group Loans owed by Participating Companies.................................... 12
Part 2 Intra-Group Loans owed by Corp and plc............................................... 25
3. Other preserved claims.......................................................................... 38
Part 1 Other Preserved Claims owed by Participating Companies............................... 38
Part 2 Other Preserved Claims owed by Corp and plc.......................................... 53
4. Accession Letter................................................................................ 69
5. Non-financial guarantees and indemnities........................................................ 72
Part 1 Non-financial guarantees and indemnities given by Corp plc........................... 72
Part 2 Non-financial guarantees and indemnities given by Participating Companies............ 97
THIS AGREEMENT is made on 27th March, 2003
BETWEEN:
(1) MARCONI PLC, (registered number 03846429) whose registered office is at
New Century Park, PO Box 53, Coventry, Warwickshire, CV3 1HJ (plc);
(2) MARCONI CORPORATION PLC, (registered number 00067307) whose registered
office is at New Century Park, PO Box 53, Coventry, Warwickshire, CV3
1HJ (CORP);
(3) THE TRADING COMPANIES whose names and addresses are set out in Part 1
of Schedule 1 (together with any person who accedes to this Agreement
as a trading company, each a TRADING COMPANY);
(4) THE NON-TRADING SUBSIDIARIES whose names and addresses are set out in
Part 2 of Schedule 1 (together with any person who accedes to this
Agreement as a non-trading company, each an NON-TRADING COMPANY); and
(5) THE DORMANT SUBSIDIARIES whose names and addresses are set out in Part
3 of Schedule 1 (together with any person who accedes to this Agreement
as a dormant company, each a DORMANT COMPANY).
WHEREAS:
(A) plc, Corp, each Trading Company, each Non-Trading Company and each
Dormant Company are members of the Group.
(B) On 29th August 2002, Corp and plc concluded with certain of their
creditors non-binding indicative heads of terms detailing the
principles for the proposed Financial Restructuring of Corp and plc.
These non-binding indicative heads of terms were amended by addenda
concluded on 13th December 2002.
(C) It is proposed that plc will enter into the plc Scheme with the plc
Scheme Creditors, constituting a compromise and arrangement between plc
and the plc Scheme Creditors which will have the effect of compromising
all of plc's creditors' claims against plc as at the Record Date (other
than certain excluded claims), in consideration for a distribution of
plc's assets.
(D) It is proposed that Corp will enter into the Corp Scheme with the Corp
Scheme Creditors, constituting a compromise and arrangement between
Corp and the Corp Scheme Creditors which will have the effect of
compromising all of Corp's creditors' claims against Corp as at the
Record Date (other than certain excluded claims), in consideration for
a distribution of cash, new equity and new debt securities of Corp.
(E) In order to facilitate an effective implementation of the Schemes it is
proposed that each Trading Company, each Non-Trading Company and each
Dormant Company confirms its existing inter-company claims against plc
and Corp and waives any other claims it may have against plc or Corp
arising from circumstances existing prior to the Effective Date. It is
further proposed that plc and Corp will give equivalent waivers in
favour of each Trading Company, each Non-Trading Company and each
Dormant Company.
(F) Each party to this Agreement severally considers that, given the
Group's financial position, the entry by it into this Agreement and all
agreements in relation thereto is in the best interests of it and its
stakeholders and that the exercise by each party of its respective
rights and the
1
performance of its respective obligations pursuant to this Agreement
will assist in the successful implementation of the Financial
Restructuring.
(G) It is the intention of the parties that this document be executed as an
Agreement. Each Participating Company, Corp and plc agree to enter into
this Agreement in consideration of the respective mutual obligations
contained hereunder.
IT IS AGREED as follows:
1. INTERPRETATION
1.1 DEFINITIONS
In this Agreement:
ACCESSION LETTER means an accession letter in substantially the form
set out in Schedule 4 (Accession Letter);
CLAIM means any claim or right of action of any kind whatsoever or
howsoever arising (whether actual or contingent), whether arising under
common law, statute or otherwise and whether arising in the United
Kingdom or any other place;
CORP SCHEME means a scheme of arrangement in respect of Corp pursuant
to section 425 of the Companies Act, 1985;
COURT means the High Court of Justice of England and Wales;
CREDITOR CONSENT means, in relation to any intra-group loan, that such
loan is permitted in accordance with:
(a) the letter of undertaking dated 25th April, 2002 from Corp and
plc to the co-ordination committee of Corp's syndicate banks,
as amended; and
(b) the letter of undertaking dated 30th May, 2002 from Corp and
plc to the ad-hoc committee of Corp's bondholders, as amended
including in each case any intra-group loan which is made with the
requisite consent of the respective creditor groups;
EFFECTIVE DATE means in relation to the Corp Scheme the date upon which
an office copy of the order of the Court sanctioning the Corp Scheme is
delivered to the Registrar of Companies for registration;
FINANCIAL RESTRUCTURING means the proposed financial restructuring of
the Corp and plc pursuant to the Schemes more particularly described in
the scheme document (together with the explanatory statements and all
appendices, schedules and annexures to it) to be issued in connection
with the Schemes;
MARCONI GROUP means plc and each of plc's Subsidiaries;
GROUP means plc and each of its Subsidiaries;
PARTICIPATING COMPANY means any Trading Company, any Non-Trading
Company or any Dormant Company;
2
PLC SCHEME means a scheme of arrangement in respect of plc pursuant to
section 425 of the Companies Act, 1985;
PLC SCHEME CREDITORS means all scheme creditors of plc;
RECORD DATE means the date at which the liabilities of plc and Corp to
be compromised pursuant to the terms of the respective Schemes are
assessed which, at the date of this Agreement, is anticipated to be
5.00 p.m. (London time) on 21st March, 2003 for each of the Schemes;
REGISTRAR shall have the meaning given in the Companies Act 1985;
SCHEME means either or both of the Corp Scheme and the plc Scheme as
appropriate including any modifications of either scheme or both or
additions or conditions to either Scheme or both in each case as
approved or imposed by the Court; and
SUBSIDIARY has the meaning set forth in section 736 of Companies Act,
1985 as amended by section 144 of the Companies Act, 1989.
1.2 INTERPRETATION
(a) In this Agreement:
(i) references to a person include a body corporate and
unincorporated associations of persons;
(ii) references to an individual include his estate and personal
representatives; and
(iii) references to a party to this Agreement include references to
the successors or assigns (immediate or otherwise), of that
party.
(b) In this Agreement any reference, express or implied, to an enactment
includes references to:
(i) that enactment as re-enacted, amended, extended or applied by
or under any other enactment (before or after the signature of
this Agreement);
(ii) any enactment which that enactment re-enacts (with or without
modification); and
(iii) any subordinate legislation made (before or after the
signature of this Agreement) under that enactment, as
re-enacted, amended, extended or applied as described in
paragraph (i) above, or under any enactment referred to in
paragraph (ii) above,
and "enactment" includes any legislation in any jurisdiction.
(c) In this Agreement, unless the contrary intention appears, a reference
to a clause, subclause or schedule is a reference to a clause,
subclause or schedule to this Agreement. The schedules form part of
this Agreement.
(d) Paragraphs (a), (b) and (c) above apply unless the contrary intention
appears.
(e) The headings in this Agreement do not affect its interpretation.
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2. TARGET SUBSIDIARIES
2.1 METHOD OF ACCESSION
Corp shall, and is hereby authorised by each other Participating
Company (other than plc) to, execute an Accession Letter, in respect of
any proposed Trading Company, Non-Trading Company or Dormant Company,
for itself and on behalf of each other Participating Company (other
than plc). Plc shall promptly execute any Accession Letter delivered to
it by Corp in respect of any proposed Trading Company, Non-Trading
Company or Dormant Company.
2.2 DATE OF ACCESSION
Each Accession Letter shall take effect from the date of its execution
by Corp, plc and the proposed Trading Company, Non-Trading Company or
Dormant Company, as applicable.
3. STATEMENT OF INTRA-GROUP LOANS
3.1 INTRA-GROUP LOANS OWED BY PARTICIPATING COMPANIES
Corp and plc each confirms, to the best of its knowledge and belief,
that the loan balances set out opposite its name in Part 1 of Schedule
2 (Intra-group loans owed by Participating Companies) are all of the
loans which were owing to it by any Participating Company as at 31st
December, 2002.
3.2 INTRA -GROUP LOANS OWED BY CORP AND PLC
Each Participating Company confirms, to the best of its knowledge and
belief, that the loan balances set out opposite its name in Part 2 of
Schedule 2 (Intra-group loans owed by Corp and plc) are all of the
loans which were owing to it by Corp or plc as at 31st December, 2002.
4. ACKNOWLEDGEMENT OF LIABILITIES
4.1 ACKNOWLEDGEMENT BY CORP AND PLC
Each of Corp and plc acknowledges and confirms its liability in respect
of:
(a) the loan balances set out in Part 2 of Schedule 2 (Intra-group
loans owed by Corp and plc) expressed to be owing by it;
(b) the trading and current account liabilities expressed to be
owing by it to each Participating Company in the management
accounts upon which the audited consolidated financial
accounts of plc as at 31st March, 2002 (in relation to each
Trading and each Non-Trading Company) and as at 30th
September, 2002 (in relation to each Dormant Company), have
been prepared, to the extent such trading and current account
liabilities remain outstanding;
(c) the other preserved Claims set out in Part 2 of Schedule 3
(Other Preserved Claims owed by Corp and plc) expressed to be
owing by it.
4.2 ACKNOWLEDGEMENT BY EACH PARTICIPATING COMPANY
Each Participating Company acknowledges and confirms its liability in
respect of:
4
(a) the loan balances set out in Part 1 of Schedule 2 (Intra-group
loans owed by Participating Companies) and expressed to be
owing by it;
(b) the trading and current account liabilities and expressed to
be owing by it to plc and/or Corp in the management accounts
upon which the audited consolidated financial accounts of plc
as at 31st March, 2002 (in relation to each Trading and
Non-Trading Company) and as at 30th September, 2002 (in
relation to each Dormant Company), have been prepared, to the
extent such trading and current account liabilities remain
outstanding; and
(c) the other preserved Claims set out in Part 1 of Schedule 3
(Other Preserved Claims owed by Participating Companies)
expressed to be owing by it.
5. WAIVER OF CLAIMS
5.1 WAIVER BY CORP AND PLC
(a) With effect from the Effective Date, each of Corp and plc hereby
unconditionally and irrevocably waives and releases each Participating
Company from any Claim which it may have against that Participating
Company and which arises out of or in relation to any matter or
circumstance existing on or prior to the Effective Date.
(b) The waiver and release contained in paragraph (a) above shall not apply
in relation to:
(i) any intra-group loan owed by a Participating Company to Corp
and/or plc and set out in Part 1 of Schedule 2 (Intra-group
loans owed by Participating Companies), including interest
accrued thereon at such applicable commercial rate of interest
agreed between the parties;
(ii) any intra-group loan made to a Participating Company by Corp
on or after 1st January, 2003:
(A) in the ordinary and usual course of business; or
(B) with Creditor Consent,
including interest accrued thereon at such applicable
commercial rate of interest agreed between the parties;
(iii) any trading and current account liabilities owed by a
Participating Company to Corp and/or plc and detailed in the
management accounts upon which the audited consolidated
financial accounts of plc, as at 31st March, 2002 (in relation
to each Trading and Non-Trading Company) and as at 30th
September, 2002 (in relation to each Dormant Company), have
been prepared, to the extent such trading and current account
liabilities remain outstanding;
(iv) any trading and current account liabilities owed by a Trading
Company or a Non-Trading Company to Corp and/or plc and
incurred after 31st, March, 2002 in the ordinary and usual
course of that Trading Company's or Non-Trading Company's (as
the case may be) business, to the extent such trading and
current account liabilities remain outstanding;
(v) any counter indemnity or equivalent reimbursement obligation
(which is written or is implied by law and whether or not
contingent) of a Participating Company to Corp
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and/or plc under any financial guarantee or indemnity (which
is written or is implied by law) and which is given by Corp
and/or plc and is: (A) in favour of any person which is not a
member of the Marconi Group (including the issuer of any
performance bond, bank guarantee or similar instrument) and
(B) in respect of any contractual obligations of that
Participating Company; provided that where any payment has
been made under such a guarantee or indemnity on or before
31st March, 2002, the resultant counter indemnity shall not be
preserved under this clause 5.1 (b) (v);
(vi) any counter indemnity or equivalent reimbursement obligation
(which is written or is implied by law and whether or not
contingent) of a Participating Company to Corp and/or plc
under any non-financial guarantee or indemnity (which is
contractual or implied by law) and which is given by Corp
and/or plc and is: (A) in favour of any person which is not a
member of the Marconi Group; (B) in respect of any contractual
or implied by law obligations of that Participating Company
and (C) set out in Part 1 of Schedule 5 (non-financial
guarantees and indemnities given by Corp or plc); provided
that where any payment has been made under such a guarantee or
indemnity on or before 31st March, 2002, the resultant counter
indemnity shall not be preserved under this clause 5.1 (b)
(vi); and
(vii) any other preserved Claims set out in Part 1 of Schedule 3
(Other Preserved Claims owed by Participating Companies)
expressed to be owing by it,
and each such Claim shall remain in full force and effect
notwithstanding the provisions of this Agreement.
5.2 WAIVER BY PARTICIPATING COMPANIES
(a) With effect from the Effective Date, each Participating Company hereby
unconditionally and irrevocably waives and releases Corp and/or plc
from any Claim which it may have against Corp and/or plc and which
arises out of or in relation to any matter or circumstance existing on
or prior to the Effective Date.
(b) The waiver and release contained in paragraph (a) above shall not apply
in relation to:
(i) any intra-group loan owed by Corp and/or plc to a
Participating Company and set out in Part 2 of Schedule 2
(Intra-group loans owed by Corp and plc), including interest
accrued thereon at such applicable commercial rate of interest
agreed between the parties;
(ii) any intra-group loan made to Corp by a Participating Company
on or after 1st January, 2003:
(A) in the ordinary and usual course of business;
(B) with Creditor Consent,
including interest accrued thereon at such applicable
commercial rate of interest agreed between the parties;
(iii) any trading and current account liabilities owed by Corp
and/or plc to a Participating Company and detailed in the
management accounts upon which the audited consolidated
financial accounts of plc, as at 31st March, 2002 (in relation
to each Trading and Non-Trading Company) and as at 30th
September, 2002 (in relation to
6
each Dormant Company), have been prepared, to the extent such
trading and current account liabilities remain outstanding;
(iv) any trading and current account liabilities owed by Corp
and/or plc to a Trading Company or a Non-Trading Company and
incurred after 31st March, 2002 in the ordinary and usual
course of Corp's and/or plc's (as the case may be) business,
to the extent such trading and current account liabilities
remain outstanding;
(v) any counter indemnity or equivalent reimbursement obligation
(which is written or is implied by law and whether or not
contingent) of Corp and/or plc to a Participating Company
under any financial guarantee or indemnity (which is written
or is implied by law) and which is given by such Participating
Company and is: (A) in favour of any person which is not a
member of the Marconi Group (including the issuer of any
performance bond, bank guarantee or similar instrument) and
(B) in respect of any contractual obligations of Corp and/or
plc; provided that where any payment has been made under such
a guarantee or indemnity on or before 31st March, 2002, the
resultant counter indemnity shall not be preserved under this
clause 5.2 (b) (v);
(vi) any counter indemnity or equivalent reimbursement obligation
(which is written or is implied by law and whether or not
contingent) of Corp and/or plc to a Participating Company
under any non-financial guarantee or indemnity (which is
contractual or implied by law) and which is given by such
Participating Company and is: (A) in favour of any person
which is not a member of the Marconi Group; (B) in respect of
any contractual or implied by law obligations of Corp and/or
plc and (C) set out in Part 2 of Schedule 5 (non-financial
guarantees and indemnities given by Participating Companies);
provided that where any payment has been made under such a
guarantee or indemnity on or before 31st March, 2002, the
resultant counter indemnity shall not be preserved under this
clause 5.2 (b) (vi); and
(vii) any other preserved Claim set out in Part 2 of Schedule 3
(Other Preserved Claims owed by Corp and plc) expressed to be
owing by it,
and each such Claim shall remain in full force and effect
notwithstanding the provisions of this Agreement.
6. POST-EFFECTIVE DATE CLAIMS
6.1 CLAIMS BY CORP AND PLC
Corp, plc and each Participating Company agree that nothing contained
in this Agreement shall constitute a waiver or release by Corp and/or
plc of any Claim it may have against any Participating Company and
which arises out of or in relation to any matter or circumstance
arising after the Effective Date and which did not arise out of any
matter or circumstance existing on or prior to the Effective Date. For
the avoidance of doubt, any Claim of Corp and/or plc against any
Participating Company arising out of or in relation to any matter or
circumstance arising after the Effective Date, in respect of any
contract or arrangement entered into or arising by operation of law
prior to the Effective Date shall not be affected by this Agreement.
6.2 CLAIMS BY PARTICIPATING COMPANIES
Corp, plc and each Participating Company agree that nothing contained
in this Agreement shall constitute a waiver or release by any
Participating Company of any Claim it may have against Corp and/or plc
and which arises out of or in relation to any matter or circumstance
7
arising after the Effective Date and which did not arise out of any
matter or circumstance existing on or prior to the Effective Date. For
the avoidance of doubt, any Claim a Participating Company may have
against Corp and/or plc arising out of or in relation to any matter or
circumstance arising after the Effective Date, in respect of any
contract or arrangement entered into or arising by operation of law
prior to the Effective Date, shall not be affected by this Agreement.
7. REPRESENTATIONS AND WARRANTIES
Corp, plc and each Participating Company severally represents and
warrants to each other party that:
(a) it has all requisite power and authority to execute and
deliver this Agreement and to carry out the transactions
contemplated by, and perform its obligations under, this
Agreement, and that it has taken all action necessary to
authorise such execution and delivery and the performance of
such obligations;
(b) the execution and delivery by it of this Agreement, and the
performance by it of its obligations hereunder does not and
will not violate or conflict with any law, rule or regulation
applicable to it, any provisions of constitutional documents,
any order or judgment of any court or other agency or
government applicable to it nor require any registration,
filing, consent, approval, notice or other action to, with or
by, any governmental or other authority, court or regulatory
body, except as expressly provided in this Agreement; and
(c) this Agreement constitutes legal, valid and binding
obligations, enforceable against it in accordance with its
terms, except to the extent that enforcement may be limited by
bankruptcy, insolvency, reorganisation, moratorium or other
similar laws relating to or limiting creditors' rights
generally.
8. COSTS
Each party will be solely responsible for all costs and expenses
incurred by it in connection with the negotiation, preparation and
execution of this Agreement and for its compliance with the terms of
this Agreement.
9. NOTICES
(a) Any notice given in connection with this Agreement must be in English.
Any other document provided in connection with this Agreement must be
in English or accompanied by a certified English translation; in this
case, the English translation prevails unless the document is a
statutory or other official document.
(b) Any notice or other formal communication given under this Agreement
must be in writing (which includes fax, but not email) and may be
delivered or sent by post or fax to the party to be served at its
address set out below or, where a party accedes to this Agreement in
accordance with clause 2, as set out in the relevant Accession Letter:
CORP PLC
New Century Park New Century Park
PO Box 53 PO Box 53
Coventry Coventry
8
Warwickshire CV3 1HJ Warwickshire CV3 1HJ
Attn: Company Secretary Attn: Company Secretary
Fax: 020 7306 1395 Fax: 020 7306 1395
or at such other address or fax number as it may have notified to the
other parties in accordance with this clause. Any notice or other
document sent by post shall be sent by prepaid first class post (if
within the United Kingdom) or by prepaid airmail (if elsewhere).
(c) Any notice or other formal communication shall be deemed to have been
given:
(i) if delivered, at the time of delivery; or
(ii) if posted, at 10.00 a.m. on the second Business Day after it
was put into the post; or
(iii) if sent by fax, on the date of transmission, if transmitted
before 3.00 p.m. on any Business Day, and in any other case on
the Business Day following the date of transmission.
(d) In proving service of a notice or other formal communication, it shall
be sufficient to prove that delivery was made or that the envelope
containing the communication was properly addressed and posted either
by prepaid first class post or by prepaid airmail, as the case may be
or that the fax was properly addressed and transmitted, as the case may
be.
10. ASSIGNMENT
None of the parties to this Agreement may assign any of their
respective rights or obligations under this Agreement. This Agreement
is intended to bind and inure to the benefit of the parties and their
respective successors, permitted assignees, administrators and
representatives. The agreements, representations, warranties and
obligations of each of the parties to this Agreement are, in all
respects, several and not joint.
11. GENERAL
(a) This Agreement may be executed in one or more counterparts, each of
which will be deemed an original and all of which will constitute one
and the same Agreement and any party may enter into this Agreement by
executing a counterpart.
(b) Time is not of the essence in relation to any obligation under this
Agreement unless:
(i) time is expressly stated to be of the essence in relation to
that obligation; or
(ii) one party fails to perform an obligation by the time specified
in this Agreement and the other party serves a notice on the
defaulting party requiring it to perform the obligation by a
specified time and stating that time is of the essence in
relation to that obligation.
(c) The rights of each party under this Agreement:
(i) may be exercised as often as necessary;
(ii) are cumulative and not exclusive of rights and remedies
provided by law; and
9
(iii) may be waived only in writing and specifically.
(d) A waiver (whether express or implied) by one of the parties of any of
the provisions of this Agreement or of any breach of or default by the
other party in performing any of those provisions shall not constitute
a continuing waiver and that waiver shall not prevent the waiving party
from subsequently enforcing any of the provisions of this Agreement not
waived or from acting on any subsequent breach of or default by the
other party under any of the provisions of this Agreement.
(e) In the event that any provision of this Agreement is void and
unenforceable by reason of any applicable law, it shall be deleted and
the remaining provisions of this Agreement shall continue in full force
and effect, and if required be so amended as necessary to give effect
to the spirit of this Agreement so far as possible.
12. ENTIRE AGREEMENT
(a) Each party acknowledges that in agreeing to enter into this Agreement
it has not relied on any representation, warranty, collateral contract
or other assurance (except those set out in this Agreement) made by or
on behalf of any other party before the signature of this Agreement.
Each party waives all rights and remedies which, but for this
subclause, might otherwise be available to it in respect of any such
representation, warranty, collateral contract or other assurance.
(b) Nothing in this preceding subclause limits or excludes any liability
for fraud.
13. THIRD PARTIES
No term of this Agreement is enforceable by a person who is not a party
to this Agreement.
14. GOVERNING LAW AND JURISDICTION
This Agreement will be governed by and construed in accordance with
English law. Each party irrevocably submits to the jurisdiction of the
English courts for all purposes relating to this Agreement.
15. SERVICE OF PROCESS
Without prejudice to any other mode of service allowed under any
relevant law, each Participating Company (other than those incorporated
in England and Wales):
(a) irrevocably appoints Corp as its agent for service of process
in relation to any proceedings before the English courts in
connection with this Agreement; and
(b) agrees that failure by a process agent to notify it of the
process will not invalidate the proceedings concerned.
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SCHEDULE 1
INITIAL PARTICIPATING COMPANIES
PART 1
INITIAL TRADING COMPANIES
1. Marconi plc
2. Marconi Corporation plc
PART 2
INITIAL NON-TRADING COMPANIES
[No companies]
PART 3
INITIAL DORMANT COMPANIES
[No companies]
SCHEDULE 2
INTRA-GROUP LOANS
PART 1
INTRA-GROUP LOANS OWED BY PARTICIPATING COMPANIES*
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such loan balances
remain outstanding))
- ---------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ---------------------------------------------------------------------------------------
TRADING COMPANIES
(MATERIAL)
- ---------------------------------------------------------------------------------------
ALBANY PARTNERSHIP
LIMITED 1,079,346.13
- ---------------------------------------------------------------------------------------
GPT SPECIAL PROJECT
MANAGEMENT
- ---------------------------------------------------------------------------------------
MARCONI BONDING LIMITED 26,563,509.96
+ 32,851,191.00
+ 45,289,547.16
-------------
104,704,248.12
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INVESTMENTS LIMITED 49,115.00
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(IRELAND)
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
LIMITED (UK) 126,924,380.22
+ 7,166,659.40
+ 140,876,950.87
+1,547,667.62
+ 311,701,804.42
--------------
588,217,462.53
- ---------------------------------------------------------------------------------------
- -----------------
* It is intended that all loan balances owed by plc shall be schemed as part of
the plc Scheme
12
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such loan balances
remain outstanding))
- ---------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
OPTICAL NETWORKS LIMITED (IRELAND)
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
OVERSEAS SERVICES LIMITED
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOUTH AFRICA PTY LIMITED
- ---------------------------------------------------------------------------------------
MARCONI OPTICAL
COMPONENTS LIMITED 120,601,369.40
- ---------------------------------------------------------------------------------------
MARCONI CORPORATION PLC 39,485,100.44
- ---------------------------------------------------------------------------------------
MARCONI PLC 201,888,433.35
- ---------------------------------------------------------------------------------------
MARCONI SOFTWARE
SOLUTIONS LIMITED 1,933,904.88
- ---------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL LIMITED 9,015,056.11
- ---------------------------------------------------------------------------------------
RONALDI LTD
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SA (FRANCE)
- ---------------------------------------------------------------------------------------
MNI TECNOLOGIASE e
SISTEMAS DE
COMMUNICACAO SA 84,734.72
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
B.V. (NETHERLANDS)
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
GmbH (GERMANY)
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
real ESTATE GmbH
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOFTWARE SYSTEMS GmbH & CO KG
- ---------------------------------------------------------------------------------------
13
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such loan balances
remain outstanding))
- ---------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOFTWARE SYSTEMS VER. GmBH
- ---------------------------------------------------------------------------------------
BEIJING MARCONI COMMUNICATIONS
TECHNOLOGY CO LTD
- ---------------------------------------------------------------------------------------
GEC (HONG KONG) LIMITED
- ---------------------------------------------------------------------------------------
MARCONI AUSTRALIA PTY LIMITED
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS ASIA
LIMITED 205,824.96
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SOUTH
EAST ASIA PTE LTD
- ---------------------------------------------------------------------------------------
THE GENERAL ELECTRIC COMPANY
OF SINGAPORE PRIVATE LIMITED
(NOW KNOWN AS MARCONI
SINGAPORE PTE LTD)
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONSSPA
- ---------------------------------------------------------------------------------------
MARCONI IBERIA SA
- ---------------------------------------------------------------------------------------
MARCONI MOBILE ACCESS SpA
- ---------------------------------------------------------------------------------------
MARCONI SUD SpA
- ---------------------------------------------------------------------------------------
MARCONI INTERNATIONAL SpA
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS DE
MEXICO SA De CV
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
TELEMULTI LIMITADA 31,374,720.05
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
- ---------------------------------------------------------------------------------------
14
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such loan balances
remain outstanding))
- ---------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ---------------------------------------------------------------------------------------
DO BRASIL LTDA
- ---------------------------------------------------------------------------------------
FORE SYSTEMS LIMITADA
- ---------------------------------------------------------------------------------------
MARCONI COLUMBIA SA
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
ARGENTINA SA 481,426.26
- ---------------------------------------------------------------------------------------
MARCONI VENEZUELA CA 310,597.59
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
NETWORKS CORP 35,849,269.63
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
TECHNOLOGY INC
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CANADA
INC
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS FEDERAL
INC
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS INC 105,206,236.80
- ---------------------------------------------------------------------------------------
MARCONI INC
- ---------------------------------------------------------------------------------------
MARCONI SOFTWARE
INTERNATIONAL INC 1,098,889.13*
- ---------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (US) INC
- ---------------------------------------------------------------------------------------
SYSTEMS MANAGEMENT
SPECIALISTS INC 3,563,345.14*
- ---------------------------------------------------------------------------------------
MARCONI MIDDLE EAST
(SAUDI ARABIA)
- ---------------------------------------------------------------------------------------
MARCONI MIDDLE EAST LLC (DUBAI)
- ---------------------------------------------------------------------------------------
MARCONI APPLIED
- ---------------------------------------------------------------------------------------
- -------------------
* It is intended that this amount shall be assigned on or before the Record Date
to Corp as part of a Trade Receivable Assignment to be entered into by Corp and
plc
15
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such loan balances
remain outstanding))
- ---------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ---------------------------------------------------------------------------------------
TECNOLOGIES SA
- ---------------------------------------------------------------------------------------
SNC COMPOSANTS & CIE
- ---------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------
NON-TRADING SUBSIDIARIES
- ---------------------------------------------------------------------------------------
MARCONI PROPERTY LTD
- ---------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES LIMITED 192,201.48
- ---------------------------------------------------------------------------------------
BRUTON STREET INVESTMENTS
LIMITED
- ---------------------------------------------------------------------------------------
EA CONTINENTAL LIMITED 219,000,000*
- ---------------------------------------------------------------------------------------
ELLIOTT-AUTOMATION
HOLDINGS LIMITED
- ---------------------------------------------------------------------------------------
THE ENGLISH ELECTRIC
COMPANY, LIMITED 1,537,611.83
- ---------------------------------------------------------------------------------------
MARCONI (BRUTON STREET)
LIMITED + 203,281,257.20
+ 104,419,241.30
+ 529,343,428.50
--------------
837,043,927.00
- ---------------------------------------------------------------------------------------
MARCONI (HOLDINGS) LIMITED
- ---------------------------------------------------------------------------------------
MARCONI AEROSPACE UNLIMITED
- ---------------------------------------------------------------------------------------
MARCONI CAPITAL LIMITED + 4,658,963.85
- ---------------------------------------------------------------------------------------
+ 27,174,596.79
-------------
31,833,560.64
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS AFRICA
(PTY) LIMITED
- ---------------------------------------------------------------------------------------
- -------------------
* It is intended that plc shall release this loan in consideration for the
assignment of the EA Continental Limited-Corp loan referred to below.
16
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such loan balances
remain outstanding))
- ---------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS LIMITED
- ---------------------------------------------------------------------------------------
MARCONI (DGP1) LIMITED + 372,717,107.72
+ 7,474,093,94
----------------
380,191,201.66
- ---------------------------------------------------------------------------------------
MARCONI (DGP2) LIMITED + 372,717,107.72
+ 7,474,093,69
----------------
380,191,201.41
- ---------------------------------------------------------------------------------------
MARCONI (ELLIOTT AUTOMATION)
LIMITED
- ---------------------------------------------------------------------------------------
MOBILE SYSTEMS INTERNATIONAL
HOLDINGS LIMITED
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GmbH
(SWITZERLAND)
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS GmbH (GERMANY) 575,830.28
- ---------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES LTD (NOW KNOWN AS
MARCONI AUSTRALIA HOLDINGS
PTY. LIMITED)
- ---------------------------------------------------------------------------------------
MARCONI HOLDINGS SpA
- ---------------------------------------------------------------------------------------
RELTEC MEXICO SA de CV (NOW
KNOWN AS MARCONI
COMMUNICATIONS, S.A. de C.V.)
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(CANADA)
- ---------------------------------------------------------------------------------------
FS FINANCE CORP
- ---------------------------------------------------------------------------------------
17
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such loan balances
remain outstanding))
- ---------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ---------------------------------------------------------------------------------------
FS HOLDING CORP
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS NORTH
AMERICA INC.
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CANADA
HOLDINGS INC.
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS INC.
- ---------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL INC. 20,535,178.28
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
LIMITED (BERMUDA)
- ---------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------
DORMANT SUBSIDIARIES
- ---------------------------------------------------------------------------------------
A.B. DICK HOLDINGS LTD
- ---------------------------------------------------------------------------------------
ARROW LTD
- ---------------------------------------------------------------------------------------
ASSOCIATED AUTOMATION LTD
- ---------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES HOLDINGS LTD
- ---------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES (MANCHESTER) LTD
- ---------------------------------------------------------------------------------------
CLANVILLE LIMITED
- ---------------------------------------------------------------------------------------
COMBINED ELECTRICAL
MANUFACTURERS LTD
- ---------------------------------------------------------------------------------------
COPPENHALL NOMINEES LIMITED
- ---------------------------------------------------------------------------------------
DAYMO LTD
- ---------------------------------------------------------------------------------------
FF CHRESTIAN & CO LTD
- ---------------------------------------------------------------------------------------
GPT CONSUMER PRODUCTS LTD
- ---------------------------------------------------------------------------------------
18
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such loan balances
remain outstanding))
- ---------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ---------------------------------------------------------------------------------------
GPT PAYPHONE SYSTEMS LTD
- ---------------------------------------------------------------------------------------
GPT RELIANCE LTD
- ---------------------------------------------------------------------------------------
THE KINGSWAY HOUSING
ASSOCIATION LTD
- ---------------------------------------------------------------------------------------
KRAYFORD LTD
- ---------------------------------------------------------------------------------------
LARNERWAY LTD
- ---------------------------------------------------------------------------------------
LAYANA LIMITED 165,556.64
- ---------------------------------------------------------------------------------------
MARCONI CASWELL
DEVELOPMENTS LIMITED
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
OPTICAL FIBRES LIMITED
- ---------------------------------------------------------------------------------------
MARCONI (FIFTEEN) LIMITED 196,822.17
- ---------------------------------------------------------------------------------------
MARCONI (FIFTY-NINE) LTD
- ---------------------------------------------------------------------------------------
MARCONI (FIFTY-THREE) LTD
- ---------------------------------------------------------------------------------------
MARCONI (FORTY-FIVE) LIMITED
- ---------------------------------------------------------------------------------------
MARCONI (FORTY-FOUR) LTD
- ---------------------------------------------------------------------------------------
MARCONI (FORTY-THREE) LIMITED
- ---------------------------------------------------------------------------------------
MARCONI G.M. LIMITED 283,500.00
- ---------------------------------------------------------------------------------------
MARCONI MOBILE SYSTEMS LIMITED
- ---------------------------------------------------------------------------------------
MARCONI (NINE) LIMITED
- ---------------------------------------------------------------------------------------
MARCONI PHOTONICA LIMITED
- ---------------------------------------------------------------------------------------
MARCONI (SIXTEEN) LIMITED
- ---------------------------------------------------------------------------------------
19
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such loan balances
remain outstanding))
- ---------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ---------------------------------------------------------------------------------------
MARCONI (SIXTY-NINE) LIMITED 801,146.76
- ---------------------------------------------------------------------------------------
MARCONI (SIXTY-TWO) LTD 2,859,252.73
- ---------------------------------------------------------------------------------------
MARCONI (THIRTEEN) LIMITED
- ---------------------------------------------------------------------------------------
MARCONI (THIRTY-TWO) LIMITED
- ---------------------------------------------------------------------------------------
MARCONI (TLC) LTD
- ---------------------------------------------------------------------------------------
MARCONI (TWENTY-SEVEN) LIMITED
- ---------------------------------------------------------------------------------------
MARCONI (WCGL) UNLIMITED
- ---------------------------------------------------------------------------------------
MCMICHAEL LIMITED
- ---------------------------------------------------------------------------------------
METROPOLITAN-VICKERS
ELECTRICAL CO LTD
- ---------------------------------------------------------------------------------------
MOBILE SYSTEMS GROUP LTD
- ---------------------------------------------------------------------------------------
MOBILE SYSTEMS (HOLDINGS) LTD
- ---------------------------------------------------------------------------------------
MOBILE SYSTEMS SERVICES LTD
- ---------------------------------------------------------------------------------------
MOBILE SYSTEMS (UK) LTD
- ---------------------------------------------------------------------------------------
THE M-O VALVE CO LTD 101,122.49
- ---------------------------------------------------------------------------------------
MSI CELLULAR INVESMTNETS (ONE)
LTD
- ---------------------------------------------------------------------------------------
PALMAZ LTD
- ---------------------------------------------------------------------------------------
PHOTONICA LIMITED
- ---------------------------------------------------------------------------------------
PHOTONIQA LIMITED
- ---------------------------------------------------------------------------------------
PYFORD LIMITED
- ---------------------------------------------------------------------------------------
20
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such loan balances
remain outstanding))
- ---------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ---------------------------------------------------------------------------------------
RAINFORD GROUP TRUSTEES LTD
- ---------------------------------------------------------------------------------------
RAINFORD RACKS LTD
- ---------------------------------------------------------------------------------------
RELTEC (COVENTRY) LTD
- ---------------------------------------------------------------------------------------
ROBERT STEPHENSON & HAWTHORNS
LTD
- ---------------------------------------------------------------------------------------
THE ROTARY ENGINEERING COMPANY
LIMITED 1,876.19
- ---------------------------------------------------------------------------------------
SALPLEX LTD
- ---------------------------------------------------------------------------------------
STYLES & MEALING LIMITED
- ---------------------------------------------------------------------------------------
TCL PROJECTS LIMITED
- ---------------------------------------------------------------------------------------
ZIPBOND LTD
- ---------------------------------------------------------------------------------------
THE VULCAN FOUNDRY LTD
- ---------------------------------------------------------------------------------------
TRADING COMPANIES (OTHERS)
- ---------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES INTERNATIONAL
LIMITED
- ---------------------------------------------------------------------------------------
FORE SYSTEMS LIMITED 87,021.00
- ---------------------------------------------------------------------------------------
GPT MIDDLE EAST LIMITED
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS (CIS)
LIMITED
- ---------------------------------------------------------------------------------------
MARCONI FINANCE PLC
- ---------------------------------------------------------------------------------------
MARCONI FLEET MANAGEMENT
LIMITED
- ---------------------------------------------------------------------------------------
MARCONI INFORMATION SYSTEMS
LIMITED 15,751,443.94
- ---------------------------------------------------------------------------------------
MARCONI (NCP) LIMITED
- ---------------------------------------------------------------------------------------
NETSCIENT LIMITED
- ---------------------------------------------------------------------------------------
21
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such loan balances
remain outstanding))
- ---------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ---------------------------------------------------------------------------------------
NORTHWOOD TECHNOLOGIES LIMITED
- ---------------------------------------------------------------------------------------
TELEPHONE CABLES LIMITED
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL LIMITED 12,843,257.68
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CHINA
LIMITED 381,562.68
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL HOLDINGS LIMITED + 45,165,548.52
+ 41,726,156.51
+ 28,633,106.00
----------------
115,524,811.03
- ---------------------------------------------------------------------------------------
BRUTON STREET OVERSEAS
INVESTMENTS LIMITED 100,000.00
- ---------------------------------------------------------------------------------------
BRUTON STREET PARTNERSHIP + 965,313,353.52
+ 965,313,353.52
----------------
1,930,626,707.04
- ---------------------------------------------------------------------------------------
MARCONI INDIA LIMITED + 2,590.85
+ 1,306,939.05
----------------
1,309,529.90
- ---------------------------------------------------------------------------------------
MARCONI (THIRTY-ONE) LIMITED 8,346.03
- ---------------------------------------------------------------------------------------
HIGHROSE LIMITED 701,208,853.58
- ---------------------------------------------------------------------------------------
ANCRANE LIMITED
- ---------------------------------------------------------------------------------------
WOODS OF COLCHESTER HOUSING
SOCIETY LIMITED
- ---------------------------------------------------------------------------------------
MARCONI INSURANCE LIMITED
- ---------------------------------------------------------------------------------------
TETREL LIMITED
- ---------------------------------------------------------------------------------------
RELTEC SERVICES (UK) LIMITED
- ---------------------------------------------------------------------------------------
MARCONI ANSTY LIMITED
- ---------------------------------------------------------------------------------------
MARCONI NOMINEES LIMITED
- ---------------------------------------------------------------------------------------
YESLINK UNLIMITED
- ---------------------------------------------------------------------------------------
22
\
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such loan balances
remain outstanding))
- ---------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ---------------------------------------------------------------------------------------
ELLIOT AUTOMATION CONTINENTAL SA 226,500
- ---------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL NOMINEES LIMITED
- ---------------------------------------------------------------------------------------
MARCONI DEFENSE OVERSEAS LIMITED
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GLOBAL
NETWORKS LIMITED
- ---------------------------------------------------------------------------------------
MARCONICOM LIMITED
- ---------------------------------------------------------------------------------------
MICRO SCOPE LIMITED
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL INVESTMENTS
LIMITED
- ---------------------------------------------------------------------------------------
GPT (NEDERLAND) BV
- ---------------------------------------------------------------------------------------
GEC OF PAKISTAN LIMITED 100,000.00
- ---------------------------------------------------------------------------------------
GEC ZAMBIA LIMITED
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS AB
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS BVBA
- ---------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SARL
- ---------------------------------------------------------------------------------------
MARCONI CHANNEL MARKETS GmbH
- ---------------------------------------------------------------------------------------
AEI FURNACES PTY LTD
- ---------------------------------------------------------------------------------------
HARMAN INFORMATION TECHNOLOGY
PTY LTD
- ---------------------------------------------------------------------------------------
MARCONI NEW ZEALAND LIMITED
- ---------------------------------------------------------------------------------------
MARCONI TELECOMMUNICATIONS
- ---------------------------------------------------------------------------------------
23
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such loan balances
remain outstanding))
- ---------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ---------------------------------------------------------------------------------------
INDIA PRIVATE LTD
- ---------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (AUSTRALIA)
PTY LTD
- ---------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (HONG KONG)
LIMITED
- ---------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (INDIA)
PRIVATE LIMITED
- ---------------------------------------------------------------------------------------
MARCONI ACQUISITION CORP
- ---------------------------------------------------------------------------------------
MARCONI FINANCE INC.
- ---------------------------------------------------------------------------------------
NORTHWOOD TECHNOLOGIES INC. 3,035,284.87
- ---------------------------------------------------------------------------------------
APT NEDERLANDS BV
- ---------------------------------------------------------------------------------------
APT TELECOMMUNICIONES SL
- ---------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL AB
- ---------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL BRASIL LTDA
- ---------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (FRANCE) SA
- ---------------------------------------------------------------------------------------
MARCONI PROJECTS HONG KONG LTD 22,311.00
- ---------------------------------------------------------------------------------------
24
PART 2
INTRA-GROUP LOANS OWED BY CORP AND PLC*
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such
loan balances remain outstanding))
- ---------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ---------------------------------------------------------------------------------
TRADING COMPANIES
(MATERIAL)
- ---------------------------------------------------------------------------------
ALBANY PARTNERSHIP LIMITED
- ---------------------------------------------------------------------------------
GPT SPECIAL PROJECT MANAGEMENT
LIMITED 18,793,671.00
- ---------------------------------------------------------------------------------
MARCONI BONDING LIMITED 1.00
- ---------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INVESTMENTS LIMITED
- ---------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(IRELAND) 56,000,765
- ---------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(UK) 1,863,584.92
+ 6,962,341.40
+
150,000.00
----------------
8,975,926.32
- ---------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
NETWORKS LIMITED (IRELAND)
- ---------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
OVERSEAS SERVICES LIMITED
- ---------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SOUTH
AFRICA PTY LIMITED
- ---------------------------------------------------------------------------------
- ---------------------
* It is intended that all loan balances owed by plc shall be schemed as part of
the plc Scheme
25
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such
loan balances remain outstanding))
- -------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -------------------------------------------------------------------------------
MARCONI OPTICAL COMPONENTS
LIMITED 6,147,994.77
- -------------------------------------------------------------------------------
MARCONI CORPORATION PLC 201,888,433.35
- -------------------------------------------------------------------------------
MARCONI PLC 39,485,100.44
- -------------------------------------------------------------------------------
MARCONI SOFTWARE SOLUTIONS
LIMITED 29,802,166.98
- -------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL LIMITED + 1,797,945.28
+ 907,313.26
--------------
2,705,258.54
- -------------------------------------------------------------------------------
RONALDI LTD
- -------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SA
(FRANCE) 5,233,196.47
- -------------------------------------------------------------------------------
MNI TECNOLOGIASE e SISTEMAS de
COMMUNICACAO SA
- -------------------------------------------------------------------------------
MARCONI COMMUNICATIONS B.V.
(NETHERLANDS)
- -------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GmbH
(GERMANY) 6,531,622.34
- -------------------------------------------------------------------------------
MARCONI COMMUNICATIONS REAL
ESTATE GmbH
- -------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOFTWARE SYSTEMS GmbH & CO KG
- -------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOFTWARE SYSTEMS VER. GmbH
- --------------------------------------------------------------------------------
BEIJING MARCONI COMMUNICATIONS
TECHNOLOGY CO LTD
- --------------------------------------------------------------------------------
26
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such
loan balances remain outstanding))
- --------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- --------------------------------------------------------------------------------
GEC (HONG KONG) LIMITED 53,669,470.54
- --------------------------------------------------------------------------------
MARCONI AUSTRALIA PTY LIMITED
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS ASIA
LIMITED
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SOUTH
EAST ASIA PTE LTD
- --------------------------------------------------------------------------------
SGD7,450,000.00
THE GENERAL ELECTRIC COMPANY + GBP860,000.00
OF SINGAPORE PRIVATE LIMITED (Total equivalent to
(NOW KNOWN AS MARCONI GBP 3,527,955.88 as at
SINGAPORE PTE LTD) 31/12/02)
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONSSpA
- --------------------------------------------------------------------------------
MARCONI IBERIA SA 7,169,860.51
- --------------------------------------------------------------------------------
MARCONI MOBILE ACCESS SpA
- --------------------------------------------------------------------------------
MARCONI SUD SpA
- --------------------------------------------------------------------------------
MARCONI INTERNATIONAL SpA
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS de
MEXICO SA de CV
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
TELEMULTI LIMITADA
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS DO
BRASIL LTDA
- --------------------------------------------------------------------------------
FORE SYSTEMS LIMITADA
- --------------------------------------------------------------------------------
MARCONI COLUMBIA SA
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
ARGENTINA SA
- --------------------------------------------------------------------------------
MARCONI VENEZUELA CA
- --------------------------------------------------------------------------------
27
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such
loan balances remain outstanding))
- --------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
NETWORKS CORP
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
TECHNOLOGY INC
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CANADA
INC
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS FEDERAL
INC
- --------------------------------------------------------------------------------
3,001,537
MARCONI COMMUNICATIONS INC +
4,923,218.41
----------------
7,924,755.41
- --------------------------------------------------------------------------------
MARCONI INC 1,276,106,394.81
- --------------------------------------------------------------------------------
MARCONI SOFTWARE INTERNATIONAL
INC
- --------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (US) INC
- --------------------------------------------------------------------------------
SYSTEMS MANAGEMENT SPECIALISTS
INC
- --------------------------------------------------------------------------------
MARCONI MIDDLE EAST (SAUDI
ARABIA)
- --------------------------------------------------------------------------------
MARCONI MIDDLE EAST LLC (DUBAI)
- --------------------------------------------------------------------------------
MARCONI APPLIED TECNOLOGIES SA 12,263,858.23
- --------------------------------------------------------------------------------
SNC COMPOSANTS & CIE 3,954,810.98
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
NON-TRADING SUBSIDIARIES
- --------------------------------------------------------------------------------
MARCONI PROPERTY LTD 1.00
- --------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL INDUSTRIES
LIMITED 134,993,728.40
- --------------------------------------------------------------------------------
28
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such
loan balances remain outstanding))
- --------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- --------------------------------------------------------------------------------
BRUTON STREET INVESTMENTS LIMITED 100.00
- --------------------------------------------------------------------------------
EA CONTINENTAL LIMITED 363,308,102.03*
- --------------------------------------------------------------------------------
ELLIOTT-AUTOMATION HOLDINGS LIMITED 78,486,756.70
- --------------------------------------------------------------------------------
THE ENGLISH ELECTRIC COMPANY, LIMITED 300,733,962.69
- --------------------------------------------------------------------------------
MARCONI (BRUTON STREET) LIMITED 871,397,961.00
- --------------------------------------------------------------------------------
MARCONI (HOLDINGS) LIMITED 8,353,965.42
+ 287,395.99
8,641,361.41
- --------------------------------------------------------------------------------
MARCONI AEROSPACE UNLIMITED 69,607,029.63
- --------------------------------------------------------------------------------
MARCONI CAPITAL LIMITED 2.00
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS AFRICA
(PTY) LIMITED 12,270,242.05
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS HOLDINGS
LIMITED
- --------------------------------------------------------------------------------
MARCONI (DGP1) LIMITED
- --------------------------------------------------------------------------------
MARCONI (DGP2) LIMITED
- --------------------------------------------------------------------------------
MARCONI (ELLIOTT AUTOMATION) LIMITED 21,867,755.03
- --------------------------------------------------------------------------------
MOBILE SYSTEMS INTERNATIONAL
HOLDINGS LIMITED
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GmBH
(SWITZERLAND)
- --------------------------------------------------------------------------------
- --------------------------------
* It is intended that subject to certain creditor consent and prior to the
Record Date this amount shall be assigned to Ancrane Limited by an assignment
between EA Continental Limited and Ancrane Limited and then assigned to plc by
an assignment between Ancrane Limited and plc.
29
LOAN BALANCES (L)
(Loan balances as at 31st December, 2002 (to the extent such
loan balances remain outstanding))
- --------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS HOLDINGS
GmBH (GERMANY)
- --------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES LTD (NOW KNOWN AS
MARCONI AUSTRALIA HOLDINGS PTY
LIMITED) 130,149,000.00
- --------------------------------------------------------------------------------
MARCONI HOLDINGS SpA
- --------------------------------------------------------------------------------
RELTEC MEXICO SA de CV (NOW
KNOWN AS MARCONI COMMUNICATIONS,
S.A. de C.V.)
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
LIMITED (CANADA)
- --------------------------------------------------------------------------------
FS FINANCE CORP
- --------------------------------------------------------------------------------
FS HOLDING CORP
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS NORTH AMERICA
INC.
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CANADA
HOLDINGS INC.
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS HOLDINGS INC.
- --------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL INC.
- --------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(BERMUDA) 3,224,189.35
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
DORMANT SUBSIDIARIES
- --------------------------------------------------------------------------------
A.B. DICK HOLDINGS LTD 7,308,638.58
- --------------------------------------------------------------------------------
ARROW LTD 49,958.87
- --------------------------------------------------------------------------------
ASSOCIATED AUTOMATION LTD 2,723,292.41
- --------------------------------------------------------------------------------
30
LOAN BALANCES(L)
(Loan balances as at 31st December, 2002(to the extent such loan balances remain
outstanding))
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL INDUSTRIES HOLDINGS LTD
- ------------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL INDUSTRIES (MANCHESTER)
LTD
- ------------------------------------------------------------------------------------------------
CLANVILLE LIMITED 1.00
- ------------------------------------------------------------------------------------------------
COMBINED ELECTRICAL MANUFACTURERS LTD 6,895,676.71
- ------------------------------------------------------------------------------------------------
COPPENHALL NOMINEES LIMITED
- ------------------------------------------------------------------------------------------------
DAYMO LTD
- ------------------------------------------------------------------------------------------------
FF CHRESTIAN & CO LTD 34,944.36
- ------------------------------------------------------------------------------------------------
GPT CONSUMER PRODUCTS LTD
- ------------------------------------------------------------------------------------------------
GPT PAYPHONE SYSTEMS LTD
- ------------------------------------------------------------------------------------------------
GPT RELIANCE LTD
- ------------------------------------------------------------------------------------------------
THE KINGSWAY HOUSING ASSOCIATION LTD 1,280,159.82
- ------------------------------------------------------------------------------------------------
KRAYFORD LTD
- ------------------------------------------------------------------------------------------------
LARNERWAY LTD
- ------------------------------------------------------------------------------------------------
LAYANA LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI CASWELL DEVELOPMENTS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL FIBRES LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (FIFTEEN) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (FIFTY-NINE) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (FIFTY-THREE) LTD 151,087.68
- ------------------------------------------------------------------------------------------------
31
LOAN BALANCES(L)
(Loan balances as at 31st December, 2002(to the extent such loan balances remain
outstanding))
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
MARCONI (FORTY-FIVE) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (FORTY-FOUR) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (FORTY-THREE) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI G.M. LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI MOBILE SYSTEMS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (NINE) LIMITED 141,080.92
- ------------------------------------------------------------------------------------------------
MARCONI PHOTONICA LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (SIXTEEN) LIMITED 1,250,099.99
- ------------------------------------------------------------------------------------------------
MARCONI (SIXTY-NINE) LIMITED 1,119,739.39
- ------------------------------------------------------------------------------------------------
MARCONI (SIXTY-TWO) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (THIRTEEN) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (THIRTY-TWO) LIMITED 107,416.44
- ------------------------------------------------------------------------------------------------
MARCONI (TLC) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (TWENTY-SEVEN) LIMITED 1,542,489.94
- ------------------------------------------------------------------------------------------------
MARCONI (WCGL) UNLIMITED 1,853,074.20
- ------------------------------------------------------------------------------------------------
MCMICHAEL LIMITED 5,075,000.00
- ------------------------------------------------------------------------------------------------
METROPOLITAN-VICKERS ELECTRICAL CO LTD
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS GROUP LTD
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS (HOLDINGS) LTD
- ------------------------------------------------------------------------------------------------
32
LOAN BALANCES(L)
(Loan balances as at 31st December, 2002(to the extent such loan balances remain
outstanding))
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS SERVICES LTD
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS (UK) LTD
- ------------------------------------------------------------------------------------------------
THE M-O VALVE CO LTD
- ------------------------------------------------------------------------------------------------
MSI CELLULAR INVESMTNETS (ONE) LTD
- ------------------------------------------------------------------------------------------------
PALMAZ LTD
- ------------------------------------------------------------------------------------------------
PHOTONICA LIMITED 76,009.00
- ------------------------------------------------------------------------------------------------
PHOTONIQA LIMITED 1.00
- ------------------------------------------------------------------------------------------------
PYFORD LIMITED
- ------------------------------------------------------------------------------------------------
RAINFORD GROUP TRUSTEES LTD
- ------------------------------------------------------------------------------------------------
RAINFORD RACKS LTD
- ------------------------------------------------------------------------------------------------
RELTEC (COVENTRY) LTD
- ------------------------------------------------------------------------------------------------
ROBERT STEPHENSON & HAWTHORNS LTD
- ------------------------------------------------------------------------------------------------
THE ROTARY ENGINEERING COMPANY LIMITED
- ------------------------------------------------------------------------------------------------
SALPLEX LTD 92,386.96
- ------------------------------------------------------------------------------------------------
STYLES & MEALING LIMITED
- ------------------------------------------------------------------------------------------------
TCL PROJECTS LIMITED
- ------------------------------------------------------------------------------------------------
ZIPBOND LTD 6,731,913.50
- ------------------------------------------------------------------------------------------------
THE VULCAN FOUNDRY LTD
- ------------------------------------------------------------------------------------------------
TRADING SUBSIDIARIES (OTHERS)
- ------------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL INDUSTRIES INTERNATIONAL 76,913.47
LIMITED
- ------------------------------------------------------------------------------------------------
33
LOAN BALANCES(L)
(Loan balances as at 31st December, 2002(to the extent such loan balances remain
outstanding))
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
FORE SYSTEMS LIMITED
- ------------------------------------------------------------------------------------------------
GPT MIDDLE EAST LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS (CIS) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI FINANCE PLC 2,775,111.02
- ------------------------------------------------------------------------------------------------
MARCONI FLEET MANAGEMENT LIMITED 1,292,411.63
- ------------------------------------------------------------------------------------------------
MARCONI INFORMATION SYSTEMS LIMITED 54,945.94
- ------------------------------------------------------------------------------------------------
MARCONI (NCP) LIMITED
- ------------------------------------------------------------------------------------------------
NETSCIENT LIMITED
- ------------------------------------------------------------------------------------------------
NORTHWOOD TECHNOLOGIES LIMITED
- ------------------------------------------------------------------------------------------------
TELEPHONE CABLES LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS INTERNATIONAL LIMITED 7,065,000.00
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CHINA LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS INTERNATIONAL HOLDINGS
LIMITED
- ------------------------------------------------------------------------------------------------
BRUTON STREET OVERSEAS INVESTMENTS LIMITED
- ------------------------------------------------------------------------------------------------
BRUTON STREET PARTNERSHIP
- ------------------------------------------------------------------------------------------------
MARCONI INDIA LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (THIRTY-ONE) LIMITED
- ------------------------------------------------------------------------------------------------
HIGHROSE LIMITED
- ------------------------------------------------------------------------------------------------
ANCRANE LIMITED 14,635,059.00
+ an amount
- ------------------------------------------------------------------------------------------------
34
LOAN BALANCES(L)
(Loan balances as at 31st December, 2002(to the extent such loan balances remain
outstanding))
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
approximately equal to
387,403,015.00
(stemming from four
separate bond issues of
(1) E256,735,000; (2) E
67,868,000; (3)
US$131,011,000; and (4)
US$130,090,000)
- ------------------------------------------------------------------------------------------------
WOODS OF COLCHESTER HOUSING SOCIETY LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI INSURANCE LIMITED
- ------------------------------------------------------------------------------------------------
TETREL LIMITED
- ------------------------------------------------------------------------------------------------
RELTEC SERVICES (UK) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI ANSTY LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI NOMINEES LIMITED
- ------------------------------------------------------------------------------------------------
YESLINK UNLIMITED
- ------------------------------------------------------------------------------------------------
ELLIOT AUTOMATION CONTINENTAL SA
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL NOMINEES LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI DEFENSE OVERSEAS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GLOBAL NETWORKS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONICOM LIMITED
- ------------------------------------------------------------------------------------------------
MICRO SCOPE LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS INTERNATIONAL INVESTMENTS
LIMITED
- ------------------------------------------------------------------------------------------------
GPT (NEDERLAND) BV
- ------------------------------------------------------------------------------------------------
35
LOAN BALANCES(L)
(Loan balances as at 31st December, 2002(to the extent such loan balances remain
outstanding))
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
GEC OF PAKISTAN LIMITED
- ------------------------------------------------------------------------------------------------
GEC ZAMBIA LIMITED 154,866.00
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS AB
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS BVBA
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SARL
- ------------------------------------------------------------------------------------------------
MARCONI CHANNEL MARKETS GmbH
- ------------------------------------------------------------------------------------------------
AEI FURNACES PTY LTD
- ------------------------------------------------------------------------------------------------
HARMAN INFORMATION TECHNOLOGY PTY LTD
- ------------------------------------------------------------------------------------------------
MARCONI NEW ZEALAND LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI TELECOMMUNICATIONS INDIA PRIVATE LTD
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL (AUSTRALIA)
PTY LTD
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL (HONG KONG)
LIMITED
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL (INDIA) PRIVATE
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI ACQUISITION CORP
- ------------------------------------------------------------------------------------------------
MARCONI FINANCE INC.
- ------------------------------------------------------------------------------------------------
NORTHWOOD TECHNOLOGIES INC.
- ------------------------------------------------------------------------------------------------
APT NEDERLANDS BV
- ------------------------------------------------------------------------------------------------
36
LOAN BALANCES(L)
(Loan balances as at 31st December, 2002(to the extent such loan balances remain
outstanding))
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
APT TELECOMMUNICIONES SL
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL AB
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL BRASIL LTDA
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL (FRANCE) SA
- ------------------------------------------------------------------------------------------------
MARCONI PROJECTS HONG KONG LTD 55,454.23
- ------------------------------------------------------------------------------------------------
37
SCHEDULE 3
OTHER PRESERVED CLAIMS
PART 1
OTHER PRESERVED CLAIMS OWED BY PARTICIPATING COMPANIES
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
TRADING COMPANIES (MATERIAL)
- ------------------------------------------------------------------------------------------------
ALBANY PARTNERSHIP LIMITED
- ------------------------------------------------------------------------------------------------
GPT SPECIAL PROJECT MANAGEMENT
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI BONDING LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INVESTMENTS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED 2,659,104.80
(IRELAND)
Trading balance
transferred to Corp on
disposal of Mobile
business
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(UK)
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
NETWORKS LIMITED (IRELAND)
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
OVERSEAS SERVICES LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SOUTH
AFRICA PTY LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI OPTICAL COMPONENTS
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI CORPORATION PLC Balance owed to plc
by Corp of L
195k arising from
disposal of Mobile
business. Plc has no
record of debt and as
such it is being
- ------------------------------------------------------------------------------------------------
38
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
written back to
capital projects in
March 2003
- ------------------------------------------------------------------------------------------------
EXCHANGE AGREEMENT -
MARCONI PLC PURCHASE OF SHARES IN
SYSTEMS MANAGEMENT
SPECIALISTS, INC. in
exchange for shares in
Marconi plc (22nd May,
2000) with a follow-up
share sale agreement
from plc to Corp
Outstanding liabilities
as follows: minimal
capacity, trading and
regulatory warranties;
certain covenants; and
indemnity given to
Miguel Winder for any
losses, damages, costs
etc incurred in
connection with the
breach of any
representation,
warranty or covenant.
Following on from the
first share sale
agreement, plc entered
into an agreement for
the sale and purchase
of shares in Systems
Management Specialists,
Inc. with Corp under
which the obligations
under the original
agreement were mirrored
between purchaser and
seller in the
intra-group sale
agreement. (18th July,
2000).
SHARE SALE AND PURCHASE
AGREEMENT RELATING TO
THE ACQUISITION OF
ALBANY PARTNERSHIP
LIMITED from AJC
Elliman, Andrew Jones
and Dolphin Head Group
Holdings Plc to Plc
("Vendors") (28th July,
2000) with a follow-up
intra group share sale
agreement from Plc to
Corp.
Liabilities outstanding
as follows:
- ------------------------------------------------------------------------------------------------
39
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
Plc warrants to the
Vendors, their estates
and PRs that at the
date of the Agreement:
it is a corporation
duly incorporated and
validly existing under
the laws of England and
Wales; it has the
corporate power to
perform all its
obligations under and
as envisaged by the
Agreement; the
execution or
performance of the
Agreement by Plc does
not contravene any
provision of its
memorandum or articles
of association or any
agreement created by
Plc or any law; and Plc
has full power and has
procured all corporate
consents for the
execution and
performance by it of
the Agreement, which
has been executed in
compliance with its
constitutional
documents and
applicable law. Under a
related Tax Deed dated
28th July, 2000, Plc
covenants to pay on
demand to the Vendors,
their estates and PRs
an amount equal to the
amount of any liability
of the Vendors or any
Company prior to
Completion: pursuant to
section 767A, 767AA and
767B Taxes Act by
reason of the failure
of the Company to
disclose a liability to
corporation tax; and
which results from the
Vendors or such other
company being treated
as a member of the same
group as a Company for
VAT purposes during any
prescribed accounting
period which was
current at Completion.
- ------------------------------------------------------------------------------------------------
40
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
Under a Share Sale
Agreement (undated) Plc
sold its shares in
Albany Partnership
Limited to Corp and the
various obligations
contained in the
original sale agreement
were mirrored between
purchaser and seller in
the intra-group sale
agreement.
ACQUISITION OF MARIPOSA
TECHNOLOGY, INC BY WAY
OF MERGER WITH MARCONI
ACQ. (20th September,
2000)
It appears the
liabilities under this
acquisition were
assigned to Corp from
PLC on 18th October,
2000 pursuant to an
Assignment Agreement,
but under the
assignment clause, Plc
still remains liable.
Liabilities outstanding
as follows:
1. indemnity to selling
stockholders for costs,
losses, damages etc
arising in respect of
breaches of
representations or
warranties in the
merger agreement/other
documents;
2. limited warranties
given (along with
Marconi Acquisition
Sub) re organisation,
consents and approvals,
capitalisation and
various
mechanical/admin steps;
and
3. bonus payments under
two employment
contracts plus
indemnity for income
tax assessed on these
employees in respect of
certain employee share
options.
- ------------------------------------------------------------------------------------------------
41
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
MARCONI SOFTWARE SOLUTIONS LIMITED
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL LIMITED
- ------------------------------------------------------------------------------------------------
RONALDI LTD
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SA (FRANCE)
- ------------------------------------------------------------------------------------------------
MNI TECNOLOGIASE e SISTEMAS de COMMUNICACAO SA
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS B.V. (NETHERLANDS)
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GmbH 255,529.70
(GERMANY)
Trading balance
transferred to Corp on
disposal of Mobile
business
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS REAL
ESTATE GmbH
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOFTWARE SYSTEMS GmbH & CO KG
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOFTWARE SYSTEMS VER. GmbH
- ------------------------------------------------------------------------------------------------
BEIJING MARCONI COMMUNICATIONS
TECHNOLOGY CO LTD
- ------------------------------------------------------------------------------------------------
GEC (HONG KONG) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI AUSTRALIA PTY LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS ASIA
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SOUTH
EAST ASIA PTE LTD
- ------------------------------------------------------------------------------------------------
42
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
THE GENERAL ELECTRIC COMPANY
OF SINGAPORE PRIVATE LIMITED
(NOW KNOWN AS MARCONI
SINGAPORE PTE LTD)
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONSSpA
- ------------------------------------------------------------------------------------------------
MARCONI IBERIA SA
- ------------------------------------------------------------------------------------------------
MARCONI MOBILE ACCESS SpA
- ------------------------------------------------------------------------------------------------
MARCONI SUD SpA 6,518.06
Amount owed as part of
Jabil outsourcing
transaction
17,846,339.36
Balance due to corp by
Marconi Sud as per debt
agreement 31st July
2002. (Project Saturn)
- ------------------------------------------------------------------------------------------------
MARCONI INTERNATIONAL
SpA
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS de
MEXICO SA de CV
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
TELEMULTI LIMITADA
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS DO
BRASIL LTDA
- ------------------------------------------------------------------------------------------------
FORE SYSTEMS LIMITADA
- ------------------------------------------------------------------------------------------------
MARCONI COLUMBIA SA
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
ARGENTINA SA
- ------------------------------------------------------------------------------------------------
MARCONI VENEZUELA CA
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
NETWORKS CORP
- ------------------------------------------------------------------------------------------------
43
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
TECHNOLOGY INC
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CANADA
INC
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS FEDERAL
INC
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS INC
- ------------------------------------------------------------------------------------------------
MARCONI INC
- ------------------------------------------------------------------------------------------------
MARCONI SOFTWARE INTERNATIONAL
INC
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (US) INC
- ------------------------------------------------------------------------------------------------
SYSTEMS MANAGEMENT SPECIALISTS
INC
- ------------------------------------------------------------------------------------------------
MARCONI MIDDLE EAST (SAUDI
ARABIA)
- ------------------------------------------------------------------------------------------------
MARCONI MIDDLE EAST LLC (DUBAI)
- ------------------------------------------------------------------------------------------------
MARCONI APPLIED TECNOLOGIES SA
- ------------------------------------------------------------------------------------------------
SNC COMPOSANTS & CIE
- ------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------
NON-TRADING SUBSIDIARIES
- ------------------------------------------------------------------------------------------------
MARCONI PROPERTY LTD
- ------------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES LIMITED
- ------------------------------------------------------------------------------------------------
BRUTON STREET INVESTMENTS
LIMITED
- ------------------------------------------------------------------------------------------------
EA CONTINENTAL LIMITED
- ------------------------------------------------------------------------------------------------
44
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
ELLIOTT-AUTOMATION HOLDINGS
LIMITED
- ------------------------------------------------------------------------------------------------
THE ENGLISH ELECTRIC COMPANY,
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (BRUTON STREET) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (HOLDINGS) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI AEROSPACE UNLIMITED
- ------------------------------------------------------------------------------------------------
MARCONI CAPITAL LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS AFRICA
(PTY) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (DGP1) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (DGP2) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (ELLIOTT AUTOMATION)
LIMITED
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS INTERNATIONAL
HOLDINGS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GmBH
(SWITZERLAND)
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS GmBH (GERMANY)
- ------------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES LTD (NOW KNOWN AS
MARCONI AUSTRALIA HOLDINGS PTY
LIMITED)
- ------------------------------------------------------------------------------------------------
MARCONI HOLDINGS SpA
- ------------------------------------------------------------------------------------------------
RELTEC MEXICO SA de CV (NOW
KNOWN AS MARCONI
COMMUNICATIONS, S.A. de C.V.)
- ------------------------------------------------------------------------------------------------
45
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(CANADA)
- ------------------------------------------------------------------------------------------------
FS FINANCE CORP $1 billion obligation
of FS corp to pay
Marconi Corporation plc
under the "repo
finance" clause, used
to purchase Fore
Systems in 1999.
- ------------------------------------------------------------------------------------------------
FS HOLDING CORP
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS NORTH
AMERICA INC.
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CANADA
HOLDINGS INC.
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS INC.
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL INC.
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(BERMUDA)
- ------------------------------------------------------------------------------------------------
DORMANT SUBSIDIARIES
- ------------------------------------------------------------------------------------------------
A.B. DICK HOLDINGS LTD
- ------------------------------------------------------------------------------------------------
ARROW LTD
- ------------------------------------------------------------------------------------------------
ASSOCIATED AUTOMATION LTD
- ------------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES HOLDINGS LTD
- ------------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES (MANCHESTER) LTD
- ------------------------------------------------------------------------------------------------
CLANVILLE LIMITED
- ------------------------------------------------------------------------------------------------
COMBINED ELECTRICAL
MANUFACTURERS LTD
- ------------------------------------------------------------------------------------------------
46
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
COPPENHALL NOMINEES LIMITED
- ------------------------------------------------------------------------------------------------
DAYMO LTD
- ------------------------------------------------------------------------------------------------
FF CHRESTIAN & CO LTD
- ------------------------------------------------------------------------------------------------
GPT CONSUMER PRODUCTS LTD
- ------------------------------------------------------------------------------------------------
GPT PAYPHONE SYSTEMS LTD
- ------------------------------------------------------------------------------------------------
GPT RELIANCE LTD
- ------------------------------------------------------------------------------------------------
THE KINGSWAY HOUSING
ASSOCIATION LTD
- ------------------------------------------------------------------------------------------------
KRAYFORD LTD
- ------------------------------------------------------------------------------------------------
LARNERWAY LTD
- ------------------------------------------------------------------------------------------------
LAYANA LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI CASWELL DEVELOPMENTS
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
FIBRES LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (FIFTEEN) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (FIFTY-NINE) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (FIFTY-THREE) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (FORTY-FIVE) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (FORTY-FOUR) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (FORTY-THREE) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI G.M. LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI MOBILE SYSTEMS LIMITED
- ------------------------------------------------------------------------------------------------
47
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
MARCONI (NINE) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI PHOTONICA LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (SIXTEEN) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (SIXTY-NINE) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (SIXTY-TWO) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (THIRTEEN) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (THIRTY-TWO) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (TLC) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (TWENTY-SEVEN) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (WCGL) UNLIMITED
- ------------------------------------------------------------------------------------------------
MCMICHAEL LIMITED
- ------------------------------------------------------------------------------------------------
METROPOLITAN-VICKERS
ELECTRICAL CO LTD
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS GROUP LTD
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS (HOLDINGS) LTD
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS SERVICES LTD
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS (UK) LTD
- ------------------------------------------------------------------------------------------------
THE M-O VALVE CO LTD
- ------------------------------------------------------------------------------------------------
MSI CELLULAR INVESMTNETS (ONE)
LTD
- ------------------------------------------------------------------------------------------------
PALMAZ LTD
- ------------------------------------------------------------------------------------------------
48
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
PHOTONICA LIMITED
- ------------------------------------------------------------------------------------------------
PHOTONIQA LIMITED
- ------------------------------------------------------------------------------------------------
PYFORD LIMITED
- ------------------------------------------------------------------------------------------------
RAINFORD GROUP TRUSTEES LTD
- ------------------------------------------------------------------------------------------------
RAINFORD RACKS LTD
- ------------------------------------------------------------------------------------------------
RELTEC (COVENTRY) LTD
- ------------------------------------------------------------------------------------------------
ROBERT STEPHENSON & HAWTHORNS
LTD
- ------------------------------------------------------------------------------------------------
THE ROTARY ENGINEERING COMPANY
LIMITED
- ------------------------------------------------------------------------------------------------
SALPLEX LTD
- ------------------------------------------------------------------------------------------------
STYLES & MEALING LIMITED
- ------------------------------------------------------------------------------------------------
TCL PROJECTS LIMITED
- ------------------------------------------------------------------------------------------------
ZIPBOND LTD
- ------------------------------------------------------------------------------------------------
THE VULCAN FOUNDRY LTD
- ------------------------------------------------------------------------------------------------
TRADING SUBSIDIARIES (OTHERS)
- ------------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES INTERNATIONAL
LIMITED
- ------------------------------------------------------------------------------------------------
FORE SYSTEMS LIMITED
- ------------------------------------------------------------------------------------------------
GPT MIDDLE EAST LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS (CIS)
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI FINANCE PLC
- ------------------------------------------------------------------------------------------------
MARCONI FLEET MANAGEMENT
LIMITED
- ------------------------------------------------------------------------------------------------
49
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
MARCONI INFORMATION SYSTEMS
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (NCP) LIMITED
- ------------------------------------------------------------------------------------------------
NETSCIENT LIMITED
- ------------------------------------------------------------------------------------------------
NORTHWOOD TECHNOLOGIES LIMITED
- ------------------------------------------------------------------------------------------------
TELEPHONE CABLES LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CHINA
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL HOLDINGS LIMITED
- ------------------------------------------------------------------------------------------------
BRUTON STREET OVERSEAS
INVESTMENTS LIMITED
- ------------------------------------------------------------------------------------------------
BRUTON STREET PARTNERSHIP
- ------------------------------------------------------------------------------------------------
MARCONI INDIA LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (THIRTY-ONE) LIMITED
- ------------------------------------------------------------------------------------------------
HIGHROSE LIMITED
- ------------------------------------------------------------------------------------------------
ANCRANE LIMITED
- ------------------------------------------------------------------------------------------------
WOODS OF COLCHESTER HOUSING
SOCIETY LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI INSURANCE LIMITED
- ------------------------------------------------------------------------------------------------
TETREL LIMITED
- ------------------------------------------------------------------------------------------------
RELTEC SERVICES (UK) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI ANSTY LIMITED
- ------------------------------------------------------------------------------------------------
50
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
MARCONI NOMINEES LIMITED
- ------------------------------------------------------------------------------------------------
YESLINK UNLIMITED
- ------------------------------------------------------------------------------------------------
ELLIOT AUTOMATION CONTINENTAL
SA
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL NOMINEES LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI DEFENSE OVERSEAS
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GLOBAL
NETWORKS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONICOM LIMITED
- ------------------------------------------------------------------------------------------------
MICRO SCOPE LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL INVESTMENTS
LIMITED
- ------------------------------------------------------------------------------------------------
GPT (NEDERLAND) BV
- ------------------------------------------------------------------------------------------------
GEC OF PAKISTAN LIMITED
- ------------------------------------------------------------------------------------------------
GEC ZAMBIA LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS AB
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS BVBA
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SARL
- ------------------------------------------------------------------------------------------------
MARCONI CHANNEL MARKETS GMBH
- ------------------------------------------------------------------------------------------------
AEI FURNACES PTY LTD
- ------------------------------------------------------------------------------------------------
HARMAN INFORMATION TECHNOLOGY
PTY LTD
- ------------------------------------------------------------------------------------------------
MARCONI NEW ZEALAND LIMITED
- ------------------------------------------------------------------------------------------------
51
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- ------------------------------------------------------------------------------------------------
MARCONI TELECOMMUNICATIONS
INDIA PRIVATE LTD
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (AUSTRALIA) PTY
LTD
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (HONG KONG)
LIMITED
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (INDIA) PRIVATE
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI ACQUISITION CORP
- ------------------------------------------------------------------------------------------------
MARCONI FINANCE INC.
- ------------------------------------------------------------------------------------------------
NORTHWOOD TECHNOLOGIES INC.
- ------------------------------------------------------------------------------------------------
APT NEDERLANDS BV
- ------------------------------------------------------------------------------------------------
APT TELECOMMUNICIONES SL
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL AB
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL BRASIL LTDA
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (FRANCE) SA
- ------------------------------------------------------------------------------------------------
MARCONI PROJECTS HONG KONG LTD
- ------------------------------------------------------------------------------------------------
52
PART 2
OTHER PRESERVED CLAIMS OWED BY CORP AND PLC
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
TRADING COMPANIES
(MATERIAL)
- ------------------------------------------------------------------------------------------------
ALBANY PARTNERSHIP LIMITED
- ------------------------------------------------------------------------------------------------
GPT SPECIAL PROJECT MANAGEMENT TRADING BALANCE TRANSFERRED
LIMITED TO CORP ON DISPOSAL OF
MOBILE BUSINESS - L84,495.04
- ------------------------------------------------------------------------------------------------
MARCONI BONDING LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INVESTMENTS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(IRELAND)
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED Trading balance transferred
(UK) to Corp on disposal of
Mobile business
L1,383,897.73
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
NETWORKS LIMITED (IRELAND)
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OVERSEAS
SERVICES LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SOUTH
AFRICA PTY LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI OPTICAL COMPONENTS
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI CORPORATION PLC EXCHANGE AGREEMENT -
PURCHASE OF SHARES IN
SYSTEMS MANAGEMENT
SPECIALISTS, INC. in
- ------------------------------------------------------------------------------------------------
53
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
exchange for shares in
Marconi plc (22nd May, 2000)
with a follow-up share sale
agreement from plc to Corp
- ------------------------------------------------------------------------------------------------
Outstanding liabilities as
follows:
1. minimal capacity,
trading and regulatory
warranties;
2. certain covenants;
and
3. indemnity given to
Miguel Winder for any
losses, damages, costs etc
incurred in connection with
the breach of any
representation, warranty or
covenant.
Following on from the first
share sale agreement, plc
entered into an agreement for
the sale and purchase of
shares in Systems Management
Specialists, Inc. with Corp
under which the obligations
under the original agreement
were mirrored between
purchaser and seller in the
intra-group sale agreement.
(18th July, 2000).
SHARE SALE AND PURCHASE
AGREEMENT RELATING TO THE
ACQUISITION OF ALBANY
PARTNERSHIP LIMITED from AJC
Elliman, Andrew Jones and
Dolphin Head Group Holdings
Plc to Plc ("Vendors") (28th
July, 2000) with a follow-up
intra group share sale
agreement from Plc to Corp.
Liabilities outstanding as
follows:
1. Plc warrants to the
Vendors, their estates and PRs
that at the date of the
Agreement:
- ------------------------------------------------------------------------------------------------
54
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
(a) it is a corporation
duly incorporated and validly
existing under the laws of
England and Wales;
(b) it has the corporate
power to perform all its
obligations under and as
envisaged by the Agreement;
(c) the execution or
performance of the Agreement
by Plc does not contravene
any provision of its
memorandum or articles of
association or any agreement
created by Plc or any law;
and
(d) Plc has full power
and has procured all corporate
consents for the execution and
performance by it of the
Agreement, which has been
executed in compliance with
its constitutional documents
and applicable law. Under a
related Tax Deed dated 28th
July, 2000, Plc covenants to
pay on demand to the Vendors,
their estates and PRs an
amount equal to the amount of
any liability of the Vendors
or any Company prior to
Completion:
(a) pursuant to section
767A, 767AA and 767B Taxes Act
by reason of the failure of
the Company to disclose a
liability to corporation tax;
and
(b) which results from
the Vendors or such other
company being treated as a
member of the same group as a
Company for VAT purposes
during any prescribed
accounting period which was
current at Completion.
Under a Share Sale
- -----------------------------------------------------------------------------------------------
55
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
Agreement (undated) Plc sold
its shares in Albany
Partnership Limited to Corp
and the various obligations
contained in the original sale
agreement were mirrored
between purchaser and seller
in the intra-group sale
agreement.
ACQUISITION OF MARIPOSA
TECHNOLOGY, INC BY WAY OF
MERGER WITH MARCONI ACQ. (20th
September, 2000) It appears
the liabilities under this
acquisition were assigned to
Corp from PLC on 18th October,
2000 pursuant to an Assignment
Agreement, but under the
assignment clause, Plc still
remains liable.
Liabilities outstanding as
follows:
1. indemnity to selling
stockholders for costs,
losses, damages etc arising in
respect of breaches of
representations or warranties
in the merger agreement/other
documents;
2. limited warranties
given (along with Marconi
Acquisition Sub) re
organisation, consents and
approvals, capitalisation and
various mechanical/admin
steps; and
3. bonus payments under
two employment contracts plus
indemnity for income tax
assessed on these employees in
respect of certain employee
share options.
- ------------------------------------------------------------------------------------------------
56
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
MARCONI PLC Balance owed to plc by Corp of
L195k arising from disposal of
Mobile business. Plc has no
record of debt and as such it
is being written back to
capital projects in March 2003
- ------------------------------------------------------------------------------------------------
MARCONI SOFTWARE SOLUTIONS
LIMITED
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE TRADING BALANCE TRANSFERRED TO
INTERNATIONAL LIMITED CORP ON DISPOSAL OF MOBILE
BUSINESS
L275,201.27
- ------------------------------------------------------------------------------------------------
RONALDI LTD
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SA
(FRANCE)
- ------------------------------------------------------------------------------------------------
MNI TECNOLOGIASE E SISTEMAS DE
COMMUNICACAO SA
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS B.V.
(NETHERLANDS)
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GMBH
(GERMANY)
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS REAL
ESTATE GMBH
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOFTWARE SYSTEMS GMBH & CO KG
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOFTWARE SYSTEMS VER. GMBH
- ------------------------------------------------------------------------------------------------
BEIJING MARCONI COMMUNICATIONS
TECHNOLOGY CO LTD
- ------------------------------------------------------------------------------------------------
GEC (HONG KONG) LIMITED
- ------------------------------------------------------------------------------------------------
57
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
MARCONI AUSTRALIA PTY LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS ASIA
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SOUTH SGD 6,292.37 (EQUIVALENT TO
EAST ASIA PTE LTD GBP 2,253.39 AS AT 31.12.02)
(balance transferred from
Marconi Mobile as a result
of the Strategic Comms
disposal on 2nd Aug 02)
- ------------------------------------------------------------------------------------------------
THE GENERAL ELECTRIC COMPANY SGD 491,596.93 (EQUIVALENT
OF SINGAPORE PRIVATE LIMITED TO GBP 176,048.18 AS AT
(NOW KNOWN AS MARCONI 31/12/02)
SINGAPORE PTE LTD)
MYR 118,283.80 (EQUIVALENT
TO GBP 19,335.00 AS AT
31/12/02)
(balance transferred from
Marconi Mobile as a result
of the Strategic Comms
disposal)
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONSSPA 1,610,899.96
Balance due by corp to
Marconi Communications Spa
as per debt agreement 31st
July 2002.(Project Saturn)
- ------------------------------------------------------------------------------------------------
MARCONI IBERIA SA
- ------------------------------------------------------------------------------------------------
MARCONI MOBILE ACCESS SPA
- ------------------------------------------------------------------------------------------------
MARCONI SUD SPA 1,592,156.72
fsAmount paid by Jabil
Scotland to Corp but due
to Marconi Sud Spa on 24th h
December 2001 as Final
Adjustment.
- ------------------------------------------------------------------------------------------------
58
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
MARCONI INTERNATIONAL SPA
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS DE
MEXICO SA DE CV
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
TELEMULTI LIMITADA
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS DO
BRASIL LTDA
- ------------------------------------------------------------------------------------------------
FORE SYSTEMS LIMITADA
- ------------------------------------------------------------------------------------------------
MARCONI COLUMBIA SA
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
ARGENTINA SA
- ------------------------------------------------------------------------------------------------
MARCONI VENEZUELA CA
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
NETWORKS CORP
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS 2,612,607.34
TECHNOLOGY INC
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CANADA
INC
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS FEDERAL
INC
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS INC 4,710,771.52
- ------------------------------------------------------------------------------------------------
MARCONI INC
- ------------------------------------------------------------------------------------------------
MARCONI SOFTWARE INTERNATIONAL
INC
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (US) INC
- ------------------------------------------------------------------------------------------------
SYSTEMS MANAGEMENT SPECIALISTS
INC
- ------------------------------------------------------------------------------------------------
59
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
MARCONI MIDDLE EAST (SAUDI
ARABIA)
- ------------------------------------------------------------------------------------------------
MARCONI MIDDLE EAST LLC (DUBAI)
- ------------------------------------------------------------------------------------------------
MARCONI APPLIED TECNOLOGIES SA
- ------------------------------------------------------------------------------------------------
SNC COMPOSANTS & CIE
- ------------------------------------------------------------------------------------------------
NON-TRADING SUBSIDIARIES
- ------------------------------------------------------------------------------------------------
MARCONI PROPERTY LTD
- ------------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES LIMITED
- ------------------------------------------------------------------------------------------------
BRUTON STREET INVESTMENTS
LIMITED
- ------------------------------------------------------------------------------------------------
EA CONTINENTAL LIMITED
- ------------------------------------------------------------------------------------------------
ELLIOTT-AUTOMATION HOLDINGS
LIMITED
- ------------------------------------------------------------------------------------------------
THE ENGLISH ELECTRIC COMPANY,
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (BRUTON STREET) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (HOLDINGS) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI AEROSPACE UNLIMITED
- ------------------------------------------------------------------------------------------------
MARCONI CAPITAL LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS AFRICA
(PTY) LIMITED
- ------------------------------------------------------------------------------------------------
60
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (DGP1) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (DGP2) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (ELLIOTT AUTOMATION)
LIMITED
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS INTERNATIONAL
HOLDINGS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GMBH
(SWITZERLAND)
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS GMBH (GERMANY)
- ------------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES LTD (NOW KNOWN AS
MARCONI AUSTRALIA HOLDINGS PTY
LIMITED)
- ------------------------------------------------------------------------------------------------
MARCONI HOLDINGS SPA 640,519.77
Balance due by corp to Marconi
Holdings Spa as per debt
agreement of 31st July 2002
(Project Saturn)
- ------------------------------------------------------------------------------------------------
RELTEC MEXICO SA DE CV (NOW
KNOWN AS MARCONI
COMMUNICATIONS, S.A. DE C.V.)
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(CANADA)
- ------------------------------------------------------------------------------------------------
FS FINANCE CORP
- ------------------------------------------------------------------------------------------------
FS HOLDING CORP
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS NORTH
AMERICA INC.
- ------------------------------------------------------------------------------------------------
61
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CANADA
HOLDINGS INC.
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS INC.
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL INC.
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(BERMUDA)
- ------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------
DORMANT SUBSIDIARIES
- ------------------------------------------------------------------------------------------------
A.B. DICK HOLDINGS LTD SETTLEMENT AND RELEASE
AGREEMENT IN RELATION TO THE
DISPOSAL OF THE VIDEOJECT
COMPANIES (G.1.35) (Index
ref: G.1.114)
The definition of Marconi in
this Agreement includes
Corp, A. B. Dick Holdings
Limited and Marconi, Inc.
Marconi is solely responsible
for the payment to any taxing
authority of the amount of UK
Value Added Taxes owed by the
Videojet Companies to Marconi
and attributable to the stub
period from 1st December, 2001
to 5th February, 2002.
- ------------------------------------------------------------------------------------------------
ARROW LTD
- ------------------------------------------------------------------------------------------------
ASSOCIATED AUTOMATION LTD
- ------------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES HOLDINGS LTD
- ------------------------------------------------------------------------------------------------
62
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES (MANCHESTER) LTD
- ------------------------------------------------------------------------------------------------
CLANVILLE LIMITED
- ------------------------------------------------------------------------------------------------
COMBINED ELECTRICAL
MANUFACTURERS LTD
- ------------------------------------------------------------------------------------------------
COPPENHALL NOMINEES LIMITED
- ------------------------------------------------------------------------------------------------
DAYMO LTD
- ------------------------------------------------------------------------------------------------
FF CHRESTIAN & CO LTD
- ------------------------------------------------------------------------------------------------
GPT CONSUMER PRODUCTS LTD
- ------------------------------------------------------------------------------------------------
GPT PAYPHONE SYSTEMS LTD
- ------------------------------------------------------------------------------------------------
GPT RELIANCE LTD
- ------------------------------------------------------------------------------------------------
THE KINGSWAY HOUSING
ASSOCIATION LTD
- ------------------------------------------------------------------------------------------------
KRAYFORD LTD
- ------------------------------------------------------------------------------------------------
LARNERWAY LTD
- ------------------------------------------------------------------------------------------------
LAYANA LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI CASWELL DEVELOPMENTS
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
FIBRES LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (FIFTEEN) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (FIFTY-NINE) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (FIFTY-THREE) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (FORTY-FIVE) LIMITED
- ------------------------------------------------------------------------------------------------
63
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
MARCONI (FORTY-FOUR) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (FORTY-THREE) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI G.M. LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI MOBILE SYSTEMS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (NINE) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI PHOTONICA LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (SIXTEEN) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (SIXTY-NINE) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (SIXTY-TWO) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (THIRTEEN) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (THIRTY-TWO) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (TLC) LTD
- ------------------------------------------------------------------------------------------------
MARCONI (TWENTY-SEVEN) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (WCGL) UNLIMITED
- ------------------------------------------------------------------------------------------------
MCMICHAEL LIMITED
- ------------------------------------------------------------------------------------------------
METROPOLITAN-VICKERS ELECTRICAL CO LTD
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS GROUP LTD
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS (HOLDINGS) LTD
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS SERVICES LTD
- ------------------------------------------------------------------------------------------------
64
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
MOBILE SYSTEMS (UK) LTD
- ------------------------------------------------------------------------------------------------
THE M-O VALVE CO LTD
- ------------------------------------------------------------------------------------------------
MSI CELLULAR INVESMTNETS (ONE) LTD
- ------------------------------------------------------------------------------------------------
PALMAZ LTD
- ------------------------------------------------------------------------------------------------
PHOTONICA LIMITED
- ------------------------------------------------------------------------------------------------
PHOTONIQA LIMITED
- ------------------------------------------------------------------------------------------------
PYFORD LIMITED
- ------------------------------------------------------------------------------------------------
RAINFORD GROUP TRUSTEES LTD
- ------------------------------------------------------------------------------------------------
RAINFORD RACKS LTD
- ------------------------------------------------------------------------------------------------
RELTEC (COVENTRY) LTD
- ------------------------------------------------------------------------------------------------
ROBERT STEPHENSON & HAWTHORNS LTD
- ------------------------------------------------------------------------------------------------
THE ROTARY ENGINEERING COMPANY LIMITED
- ------------------------------------------------------------------------------------------------
SALPLEX LTD
- ------------------------------------------------------------------------------------------------
STYLES & MEALING LIMITED
- ------------------------------------------------------------------------------------------------
TCL PROJECTS LIMITED
- ------------------------------------------------------------------------------------------------
ZIPBOND LTD
- ------------------------------------------------------------------------------------------------
THE VULCAN FOUNDRY LTD
- ------------------------------------------------------------------------------------------------
TRADING SUBSIDIARIES (OTHERS)
- ------------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL INDUSTRIES
INTERNATIONAL LIMITED
- ------------------------------------------------------------------------------------------------
FORE SYSTEMS LIMITED
- ------------------------------------------------------------------------------------------------
GPT MIDDLE EAST LIMITED
- ------------------------------------------------------------------------------------------------
65
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS (CIS)
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI FINANCE PLC
- ------------------------------------------------------------------------------------------------
MARCONI FLEET MANAGEMENT LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI INFORMATION SYSTEMS
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (NCP) LIMITED
- ------------------------------------------------------------------------------------------------
NETSCIENT LIMITED
- ------------------------------------------------------------------------------------------------
NORTHWOOD TECHNOLOGIES LIMITED
- ------------------------------------------------------------------------------------------------
TELEPHONE CABLES LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CHINA
LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL HOLDINGS LIMITED
- ------------------------------------------------------------------------------------------------
BRUTON STREET OVERSEAS
INVESTMENTS LIMITED
- ------------------------------------------------------------------------------------------------
BRUTON STREET PARTNERSHIP
- ------------------------------------------------------------------------------------------------
MARCONI INDIA LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI (THIRTY-ONE) LIMITED
- ------------------------------------------------------------------------------------------------
HIGHROSE LIMITED
- ------------------------------------------------------------------------------------------------
ANCRANE LIMITED
- ------------------------------------------------------------------------------------------------
WOODS OF COLCHESTER HOUSING
SOCIETY LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI INSURANCE LIMITED
- ------------------------------------------------------------------------------------------------
66
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
TETREL LIMITED
- ------------------------------------------------------------------------------------------------
RELTEC SERVICES (UK) LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI ANSTY LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI NOMINEES LIMITED
- ------------------------------------------------------------------------------------------------
YESLINK UNLIMITED
- ------------------------------------------------------------------------------------------------
ELLIOT AUTOMATION CONTINENTAL SA
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL
NOMINEES LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI DEFENSE OVERSEAS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GLOBAL
NETWORKS LIMITED
- ------------------------------------------------------------------------------------------------
MARCONICOM LIMITED
- ------------------------------------------------------------------------------------------------
MICRO SCOPE LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL INVESTMENTS
LIMITED
- ------------------------------------------------------------------------------------------------
GPT (NEDERLAND) BV
- ------------------------------------------------------------------------------------------------
GEC OF PAKISTAN LIMITED
- ------------------------------------------------------------------------------------------------
GEC ZAMBIA LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS AB
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS BVBA
- ------------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SARL
- ------------------------------------------------------------------------------------------------
MARCONI CHANNEL MARKETS GMBH
- ------------------------------------------------------------------------------------------------
67
OTHER LIABILITIES
(Excluding trading and current account liabilities)
- ------------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- ------------------------------------------------------------------------------------------------
AEI FURNACES PTY LTD
- ------------------------------------------------------------------------------------------------
HARMAN INFORMATION TECHNOLOGY
PTY LTD
- ------------------------------------------------------------------------------------------------
MARCONI NEW ZEALAND LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI TELECOMMUNICATIONS
INDIA PRIVATE LTD
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL
(AUSTRALIA) PTY LTD
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL
(HONG KONG) LIMITED
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL
(INDIA) PRIVATE LIMITED
- ------------------------------------------------------------------------------------------------
MARCONI ACQUISITION CORP
- ------------------------------------------------------------------------------------------------
MARCONI FINANCE INC.
- ------------------------------------------------------------------------------------------------
NORTHWOOD TECHNOLOGIES INC.
- ------------------------------------------------------------------------------------------------
APT NEDERLANDS BV
- ------------------------------------------------------------------------------------------------
APT TELECOMMUNICIONES SL
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL
AB
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL
BRASIL LTDA
- ------------------------------------------------------------------------------------------------
METAPATH SOFTWARE INTERNATIONAL
(FRANCE) SA
- ------------------------------------------------------------------------------------------------
MARCONI PROJECTS HONG KONG LTD
- ------------------------------------------------------------------------------------------------
68
SCHEDULE 4
ACCESSION LETTER
To: Marconi plc, Marconi Corporation plc and each other party to the
Statement and Waiver Agreement referred to below
From: [NAME OF PARTICIPATING COMPANY] (the ACCEDING COMPANY)]
Dated:
Dear Sirs,
We refer to the Statement and Waiver of Intercompany Balances dated [ ] and
entered into by, inter alios, Marconi plc, Marconi Corporation plc, and each of
the Participating Companies (defined therein), (the STATEMENT AND WAIVER
AGREEMENT). This is an Accession Letter. Terms defined in the Statement and
Waiver Agreement have the same meaning in this Accession Letter.
1. ACCESSION
The Acceding Company agrees to accede to the Statement and Waiver
Agreement as a [Trading Company/Non-Trading Company/Dormant Company]*
and to be bound by the terms of the Statement and Waiver Agreement and
undertakes to perform all the obligations expressed in the Statement
and Waiver Agreement to be assumed by a [Trading Company/Non-Trading
Company/Dormant Company]* and agrees to be bound by all the provisions
of the Statement and Waiver Agreement, as if it were an original party
to the Statement and Waiver Agreement and that all the obligations
assumed by it under the Statement and Waiver Agreement are legal, valid
and binding.
2. STATEMENT OF INTRA-GROUP LOANS
2.1 INTRA-GROUP LOANS OWED BY THE ACCEDING COMPANY
Corp and plc each confirms, to the best of its knowledge and belief,
that the loan balances set out opposite its name in Part 1 of Schedule
2 (Intra-group loans owed by Participating Companies) to the Statement
and Waiver Agreement are all of the loans which were owing to it by the
Acceding Company as at 31st December, 2002.
2.2 INTRA -GROUP LOANS OWED BY CORP AND PLC
The Acceding Company confirms, to the best of its knowledge and belief,
that the loan balances set out opposite its name in Part 2 of Schedule
2 (Intra-group loans owed by Corp and plc) to the Statement and Waiver
Agreement are all of the loans which were owing to it by Corp or plc as
at 31st December, 2002.
- ------------------------
* Delete as applicable
69
3. ACKNOWLEDGEMENT OF LIABILITIES
3.1 ACKNOWLEDGEMENT BY CORP AND PLC
Each of Corp and plc acknowledges and confirms its liability in respect
of:
(a) the loan balances set out in Part 2 of Schedule 2 (Intra-group loans
owed by Corp and plc) to the Statement and Waiver Agreement and
expressed to be owing by it;
(b) the trading and current account liabilities expressed to be owing by it
to the Acceding Company in the management accounts upon which the
audited consolidated financial accounts of plc as at [31st March, 2002]
[in relation to each Trading and each Non-Trading Company] / 30th
September, 2002] [in relation to each Dormant Company] have been
prepared, to the extent such trading and current account liabilities
remain outstanding;
(c) any counter indemnity or equivalent reimbursement obligation (which is
written or is implied by law) of Corp and/or plc to the Acceding
Company under any non-financial guarantee or indemnity (which is
contractual or implied by law) and which is given by such Acceding
Company and is: (A) in favour of any person which is not a member of
the Marconi Group; (B) in respect of any contractual or implied by law
obligations of Corp and/or plc and (C) set out in Part 2 of Schedule 5
(non-financial guarantees and indemnities given by Participating
Companies) to the Statement and Waiver Agreement; and
(d) the other preserved Claims set out in Part 2 of Schedule 3 (Other
preserved Claims owed by Corp and plc) to the Statement and Waiver
Agreement expressed to be owing by it.
3.2 ACKNOWLEDGEMENT BY ACCEDING COMPANY
The Acceding Company acknowledges and confirms its liability in respect
of:
(a) the loan balances set out in Part 1 of Schedule 2 (Intra-group loans
owed by the Participating Companies) to the Statement and Waiver
Agreement and expressed to be owing by it;
(b) the trading and current account liabilities and expressed to be owing
by it to plc and/or Corp in the management accounts upon which the
audited consolidated financial accounts of plc as at [31st March, 2002]
[in relation to each Trading and each Non-Trading Company] / 30th
September, 2002] [in relation to each Dormant Company] have been
prepared, to the extent such trading and current account liabilities
remain outstanding;
(c) any counter indemnity or equivalent reimbursement obligation (which is
written or is implied by law) of the Acceding Company to Corp and/or
plc under any non-financial guarantee or indemnity (which is
contractual or implied by law) and which is given by Corp and/or plc
and is: (A) in favour of any person which is not a member of the
Marconi Group; (B) in respect of any contractual or implied by law
obligations of that Acceding Company and (C) set out in Part 1 of
Schedule 5 (non-financial guarantees and indemnities given by Corp or
plc) to the Statement and Waiver Agreement; and
(d) the other preserved Claims set out in Part 1 of Schedule 3 (Other
preserved Claims owed by Participating Companies) to the Statement and
Waiver Agreement expressed to be owing by it.
4. GENERAL
This Accession Letter is governed by English law.
70
This Accession Letter is entered into by Agreement.
SIGNED by )
for [INSERT NAME] )
)
Address:
Fax:
SIGNED by )
for MARCONI )
CORPORATION PLC )
SIGNED by )
for MARCONI PLC )
71
SCHEDULE 5
NON-FINANCIAL GUARANTEES AND INDEMNITIES
PART 1
NON-FINANCIAL GUARANTEES AND INDEMNITIES GIVEN BY CORP OR PLC
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
TRADING COMPANIES (MATERIAL)
- -----------------------------------------------------------------------------------------------
ALBANY PARTNERSHIP LIMITED
- -----------------------------------------------------------------------------------------------
GPT SPECIAL PROJECT MANAGEMENT
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI BONDING LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INVESTMENTS LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(IRELAND)
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
LIMITED (UK)
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
NETWORKS LIMITED (IRELAND)
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
OVERSEAS SERVICES LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SOUTH
AFRICA PTY LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI OPTICAL COMPONENTS SALE OF MARCONI OPTICAL
LIMITED BUSINESS TO BOOKHAM
TECHNOLOGY PLC (17th
December, 2001, supplemental
agreement dated 31st January,
2002)
Corp guaranteed:
Marconi Optical's
- -----------------------------------------------------------------------------------------------
72
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
undertaking to purchase a
minimum of L30m of components
from Bookham over 18 months
from February, 2002. Out of
the L27 million still
outstanding, it is estimated
that the business plan can
justify only half being
purchased in that time frame,
with the balance to be paid
out to Bookham;
all other obligations of
Marconi Optical under the
Agreement, Transfer of
Freehold Property and certain
payment obligations under a
Supply Agreement.
Corp also indemnified Bookham
against any costs incurred in
ensuring compliance with the
above agreements.
Marconi Optical gave usual
warranties (limited to
awareness of Corp).
Total liability of Marconi
Optical and Corp shall not
exceed L12 million, excluding
an environmental indemnity
claim which (when aggregated
with all other claims) shall
not exceed L24 million.
Maximum liability under
environmental remediation
works is L500,000, plus
effect of pay-out under
minimum purchasing
undertaking.
- -----------------------------------------------------------------------------------------------
MARCONI CORPORATION PLC SALE OF THE SHARE CAPITAL OF
YESLINK INTERCO LTD. AND YESLINK
UNLIMITED TO PRUDENTIAL
Indemnity by PLC in respect of
all costs, expenses and
liabilities
- -----------------------------------------------------------------------------------------------
73
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
incurred to the extent that Corp
did not meet its obligations
under the Trade Mark Assignment.
Trade mark indemnity is
uncapped.
SALE OF MARCONI MEDICAL SYSTEMS
HOLDINGS, INC. (3rd July, 2000)
According to Marconi, Plc
guaranteed the Seller's
obligations under this
agreement.
On 15th July, 2002, Corp,
Marconi, Inc. (as successor to
Marconi Holding Systems, Inc.)
and Philips entered into a Final
Settlement Agreement. Under this
Agreement, the purchase price
was adjusted to US$837 million.
The value of the Closing Net
Assets was agreed to be US$755
million. Marconi paid Philips
US$12 million on 19th July, 2002
and was released from
liabilities in relation to the
warranty in respect of the
non-US Vendor Debt (Latin
American debt) which was
rescinded and in relation to the
indemnity for breach of
representation. US$8 million of
this was in full satisfaction of
Marconi's payment obligations
under the Stock Purchase
Agreement. The tax indemnity
under the Stock Purchase
Agreement remains in effect,
including in respect of the tax
liabilities that could have been
included in determining the
Closing Net Assets.
- -----------------------------------------------------------------------------------------------
74
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
Following the Final Settlement
Agreement, estimated liability
is US$15.3 million (being
approx. L10 million).
DISPOSAL OF MARCONI DATA SYSTEMS
INC, MARCONI DATA SYSTEMS
LIMITED, MARCONI DATA SYSTEMS
EUROPE B.V. AND MARCONI DATA
SYSTEMS B.V. (10th January,
2002)
Sellers were Marconi Systems
Holdings, Inc. (now Marconi,
Inc.) and A.B. Dick Holdings.
Corp was a joint-Seller.
Plc guaranteed all the
obligations of the Sellers and
warranted its status, authority
and non-violation of any
obligation in providing the
guarantee. Note that the Sellers
have given extensive warranties
(on an indemnified basis), which
are all still in force:
1. usual warranties on an
indemnified basis;
2. tax warranties;
3. environmental warranties; and
4. incorporation, authority,
shares and capital stock
warranties.
Total not to exceed US$100
million (US$100 million is 25%
of purchase price).
- -----------------------------------------------------------------------------------------------
75
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
SALE OF MARCONI COMMERCE
SYSTEMS, INC. AND MARCONI
COMMERCE SYSTEMS LIMITED (20th
December, 2001)
Plc guaranteed the obligations
of the sellers. Corp is a Joint
seller with Marconi Systems
Holdings, Inc. (now Marconi,
Inc.) (the "SELLERS").
Capped at 25% of the Adjusted
Purchase Price (25% is approx.
US$81.25 million).
- -----------------------------------------------------------------------------------------------
MARCONI PLC
- -----------------------------------------------------------------------------------------------
MARCONI SOFTWARE SOLUTIONS THE EASAMS AGREEMENT UNDER THE
LIMITED DISPOSAL OF MES BUSINESS TO
BRITISH AEROSPACE PLC ("BAE").
(1st November, 1999)
PLC guarantees various
obligations.
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE AGREEMENT AND PLAN OF MERGER
INTERNATIONAL LIMITED BETWEEN MARCONI AND METAPATH
(17th April, 2000)
Indemnity given to
officers/directors/employees as
at time of merger for
acts/omissions by them occurring
at or prior to date of merger.
- -----------------------------------------------------------------------------------------------
RONALDI LTD
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SA
(FRANCE)
- -----------------------------------------------------------------------------------------------
MNI TECNOLOGIASE E SISTEMAS DE
COMMUNICACAO SA
- -----------------------------------------------------------------------------------------------
76
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS B.V.
(NETHERLANDS)
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GMBH Corp and Marconi Communications Corp and Marconi
(GERMANY) as joint and several guarantors Communications Ltd as joint
of MC GmbH jointly and severally and several guarantors of MC
with Marconi Communications Real GmbH jointly and severally
Estate GmbH under the purchase with Marconi Communications
of the P1 Business from Robert Real Estate GmbH under the
Bosch GmbH ("RB GMBH") and Bosch purchase of the P1 Business
Telecom GmbH ("BT GMBH")dated from Robert Bosch GmbH ("RB
14th November, 1999. GmbH") and Bosch Telecom GmbH
("BT GmbH") dated 14th
November, 1999.
Each Guarantor undertook to Each Guarantor undertook to
perform jointly and severally perform jointly and severally
with the Purchaser all with the Purchaser all
obligations of the Purchaser obligations of the Purchaser
under the agreement. Corp agreed under the agreement. Corp
to procure that the new ultimate agreed to procure that the
parent of the Marconi Group new ultimate parent of the
under the 1999 Scheme of Marconi Group under the 1999
Arrangement [PLC] would become Scheme of Arrangement [PLC]
an additional Guarantor as soon would become an additional
as practicable after signing. Guarantor as soon as
practicable after signing
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS REAL PURCHASE OF P1 BUSINESS (24th PURCHASE OF P1 BUSINESS (24th
ESTATE GMBH November, 1999) Corp, PLC and November, 1999) Corp, PLC and
Marconi Communications Limited Marconi Communications
are guarantors of the Limited are guarantors of the
obligations of Marconi obligations of Marconi
Communications GmbH and Marconi Communications GmbH and
Communications Real Estate GmbH. Marconi Communications Real
Estate GmbH.
Each Guarantor undertook to Each Guarantor undertook to
perform jointly and severally perform jointly and severally
with the Purchaser all with the Purchaser all
obligations of the Purchaser obligations of the Purchaser
under the agreement. Corp agreed under the agreement. Corp
to procure that the new ultimate agreed to procure that the
parent of the Marconi Group new ultimate parent of the
under the 1999 Scheme of Marconi Group under the 1999
Arrangement would become Scheme of Arrangement would
become
- -----------------------------------------------------------------------------------------------
77
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
an additional Guarantor as soon an additional Guarantor as
as practicable after signing soon as practicable after
[i.e. PLC]. signing [i.e. PLC].
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOFTWARE SYSTEMS GMBH & CO KG
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOFTWARE SYSTEMS VER. GMBH
- -----------------------------------------------------------------------------------------------
BEIJING MARCONI COMMUNICATIONS
TECHNOLOGY CO LTD
- -----------------------------------------------------------------------------------------------
GEC (HONG KONG) Corp guarantees GEC (HK)
LIMITED Ltd's various obligations to:
the HONG KONG GOVERNMENT
under a MAINTENANCE CONTRACT
FOR THE HONG KONG AIR TRAFFIC
CONTROL SYSTEM for damage to
premises, 3rd party IPR
claims and defects in the
Works [+ Corp undertakes not
to assign or dispose etc. of
any part of its shareholding
in GEC (HK) which would
affect the beneficial
ownership and control of GEC
(HK) by Corp or take any
action that will result in
GEC (HK) being unable to
comply with its obligations
under the contract];
NISHIMATSU CONSTRUCTION CO.
AND KUMAGAI GUMI CO, LTD
under a SUB-CONTRACT DATED
30/06/94 [Corp authorises
Standard Chartered Bank Hong
Kong to debit from it's a/c
all amounts Standard
Chartered pays under a
HK$32,480,000 performance
bond under this
sub-contract];
- -----------------------------------------------------------------------------------------------
78
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
NISHIMATSU CONSTRUCTION CO.
LTD AND DRAGAGES ET TRAVAUX
PUBLICS (H.K.) LTD IN A JOINT
VENTURE UNDER A SUB-CONTRACT
DATED 21/03/96 FOR THE ROUTE
3 COUNTRY PARK SECTION TAI
LAM TUNNEL & YUEN LONG
APPROACH ROAD [HK$23 million
retention but also guarantee
contains a clause limiting
Corp's maximum liability to
the sub-contract sum];
Performance Bond issued by
Federal Insurance Company for
the value : HK$47,479,800.00
is due outstanding
THE AIRPORT AUTHORITY UNDER A
SUB-CONTRACT DATED 31/01/97
[+ Corp undertakes not to
assign or dispose etc. of any
part of its shareholding in
GEC (HK) which would affect
the beneficial ownership and
control of GEC (HK) by Corp
or take any action that will
result in GEC (HK) being
unable to comply with its
obligations under the
contract]
THE MASS TRANSIT RAILWAY
CORPORATION UNDER A
SUB-CONTRACT DATED 10/11/97:
Mass Transit Railway
Corporation under a Contract
690 for Quarry Bay Congestion
Relief Works-Power Supply
System. Performance Bond
issued by Federal Insurance
Co for HK$ 3,782,800.00 was
returned for cancellation on
13 Feb 03. Parent Company
Guarantee also returned
- -----------------------------------------------------------------------------------------------
79
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
MASS TRANSIT RAILWAY
CORPORATION UNDER a Contract
No. 674 , Tseung Kwan O
Extension -Building Services
for TKO Station and Tiu Keng
Leng Station Performance Bond
issued by Federal Insurance
Company for the value :
HK$19,280,000.00
THE DRAGAGES-ZEN PACIFIC
JOINT VENTURE UNDER A
SUB-CONTRACT DATED 03/08/99
for KCRC West Rail DB320
HONG KONG GOVERNMENT UNDER
TWO CONTRACTS for Lantau
Fixed Crossing Contracts for
Traffic Control and
Surveillance System Contract
No. HY/92/24 ( Part N works,
& HY/92/24 ( Part X & Y
works) Performance Bonds are
HK$25,581,080.00 and
HK$5,007,605.00 issued by
American Home Assurance
Company
- -----------------------------------------------------------------------------------------------
MARCONI AUSTRALIA PTY LIMITED Corp has issued letters of
comfort to MAPL in respect of
its business
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
ASIA LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOUTH EAST ASIA PTE LTD
- -----------------------------------------------------------------------------------------------
THE GENERAL ELECTRIC COMPANY
OF SINGAPORE PRIVATE LIMITED
(NOW KNOWN AS MARCONI
SINGAPORE PTE LTD)
- -----------------------------------------------------------------------------------------------
80
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONSSPA
- -----------------------------------------------------------------------------------------------
MARCONI IBERIA SA
- -----------------------------------------------------------------------------------------------
MARCONI MOBILE ACCESS SPA
- -----------------------------------------------------------------------------------------------
MARCONI SUD SPA
- -----------------------------------------------------------------------------------------------
MARCONI INTERNATIONAL SPA
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS DE
MEXICO SA DE CV
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
TELEMULTI LIMITADA
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS DO
BRASIL LTDA
- -----------------------------------------------------------------------------------------------
FORE SYSTEMS LIMITADA
- -----------------------------------------------------------------------------------------------
MARCONI COLUMBIA SA
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
ARGENTINA SA
- -----------------------------------------------------------------------------------------------
MARCONI VENEZUELA CA
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
NETWORKS CORP
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
TECHNOLOGY INC
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CANADA
INC
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS FEDERAL
INC
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS INC Global Procurement Agreement
between Marconi
Communications Inc. and
Bookham Technology Plc.
Marconi Corporation plc
guarantees Marconi
Communications Inc.'s
- -----------------------------------------------------------------------------------------------
81
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
obligations under this
Global Procurement Agreement.
The Global Procurement
Agreement contains no
warranties or indemnities,
but
states that except in
relation to PI or death
caused by negligence, cap in
respect of any Purchase
Order is limited to the
greater of:
(a) L10 million; or
(b) the total purchase
price paid for all products
under this agreement
at the date such a claim
arises, except maximum
liability in no event to
exceed the minimum Purchase
Commitments (L30
million).
- -----------------------------------------------------------------------------------------------
MARCONI INC DISPOSAL OF MARCONI DATA SYSTEMS STOCK PURCHASE AGREEMENT
INC, MARCONI DATA SYSTEMS RELATING TO SALE OF
LIMITED, MARCONI DATA SYSTEMS OUTSTANDING SHARES IN A.B.
EUROPE B.V. AND MARCONI DATA DICK COMPANY (19th December,
SYSTEMS B.V. (10th January, 1996)
2002)
Continuing an irrevocable
Sellers were Marconi Systems guarantee given by Corp in
Holdings, Inc. (now Marconi, favour of the Purchaser in
Inc.) and A.B. Dick Holdings. consideration of $10.
Corp was a joint-Seller. Guarantees the Seller's full
and prompt performance and
Plc guaranteed all the payment of all obligations of
obligations of the Sellers and Seller under the stock
warranted its status, authority purchase agreement and the
and non-violation of any Assumption Agreement.
obligation in providing the Guarantee only triggered by
guarantee. Note that the Sellers Change of Control (another
have given extensive warranties party acquires more than 50%
(on an indemnified basis), "beneficial ownership" in the
Seller's shares - other than
Corp) or Seller does not
satisfy its obligations under
Purchase Agreement and also
where Seller declares
dividends, or
- -----------------------------------------------------------------------------------------------
82
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
which are all still in force: makes other
distributions/payments to
1. usual warranties on an Corp or any of its
indemnified basis; affiliates. Enforceable
against Corp without need for
2. tax warranties; proceedings to have been
implemented by Purchaser or
3. environmental warranties; and direct notice of
non-performance etc. to Corp.
4. incorporation, authority, SALE OF MARCONI COMMERCE
shares and capital stock SYSTEMS INC. AND MARCONI
warranties. COMMERCE SYSTEMS LIMITED
(20th December, 2001)
Total not to exceed US$100
million (US$100 million is 25% Corp and Marconi Systems
of purchase price). Holdings Inc. (now Marconi,
Inc.) (the SELLERS) to DH
Holdings Corp, Launchchange
Limited and DH Holdings (the
SALE OF MARCONI COMMERCE SYSTEMS PURCHASERS)
INC. AND MARCONI COMMERCE
SYSTEMS LIMITED (20th December, Capped at 25% of The Adjusted
2001) Purchase Price (25% is
approx. US$81.25 million).
ASSET TRANSFER AGREEMENT IN
Plc guaranteed the obligations RESPECT OF THE HEALTHCARE
of the Sellers. Corp is a Joint INFORMATION BUSINESS (BEING
seller with Marconi Systems TRANSFERRED TO HCIS SUB)
Holdings, Inc. (now Marconi, (17th October, 2001)
Inc.) (the "SELLERS").
Corp, Marconi Systems
Holdings, Inc. (now Marconi,
Capped at 25% of the Adjusted Inc.) and Marconi
Purchase Price (25% is approx. Communications Limited
US$81.25 million). (called HCIS Sub) have
jointly and severally
SALE OF MARCONI MEDICAL SYSTEMS indemnified Marconi Medical
HOLDINGS, INC. (3rd July, 2001) Systems U.K. Limited (sold to
Koninklijke Philips
Electronics) in
Plc guaranteed the Sellers'
obligations under this agreement
jointly and severally with
Marconi Systems Holdings, Inc
(now Marconi, Inc.) (and
possibly other subsidiaries).
Cap is
- -----------------------------------------------------------------------------------------------
83
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
US$825 million. relation to any liability or
obligation related to the
Healthcare Information
business (subject to the
Stock Purchase Agreement).
No cap.
SETTLEMENT AND RELEASE
AGREEMENT RELATING TO THE
SALE OF MARCONI COMMERCE
SYSTEMS LIMITED AND MARCONI
COMMERCE SYSTEMS, INC between
Launchchange Limited, DH
Holdings Corp (together
"Danaher"), Corp and Marconi,
Inc. (7th August, 2002)
Liability is capped at the
available Holdback Amount
except as provided in the
Agreement
- -----------------------------------------------------------------------------------------------
MARCONI SOFTWARE
INTERNATIONAL INC
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (US) INC
- -----------------------------------------------------------------------------------------------
SYSTEMS MANAGEMENT EXCHANGE AGREEMENT - PURCHASE OF
SPECIALISTS INC SHARES IN SYSTEMS MANAGEMENT
SPECIALISTS, INC. IN EXCHANGE
FOR SHARES IN MARCONI PLC (22nd
May, 2000)
Outstanding liabilities as
follows:
1. minimal capacity, trading and
regulatory warranties;
2. certain covenants; and
3. indemnity given to Miguel
Winder for any losses, damages,
costs etc
- -----------------------------------------------------------------------------------------------
84
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
incurred in connection with the
breach of representation,
warranty or covenant.
Plc's liability is capped at
$12,750,000 but the indemnity
will not be triggered unless the
aggregate amount of its
liability exceeds $300,000 in
which case it must indemnify
Miguel Winder for any damage in
excess of $50,000.
Plc will meet its indemnity
obligation through the issue of
additional common stock, valued
in the same manner as the
consideration for the Shares was
valued.
Following on from this, Plc
entered into an agreement for
the sale and purchase of shares
in Systems Management
Specialists, Inc. with Corp
(18th July, 2000)
- -----------------------------------------------------------------------------------------------
MARCONI MIDDLE EAST
(SAUDI ARABIA)
- -----------------------------------------------------------------------------------------------
MARCONI MIDDLE EAST LLC
(DUBAI)
- -----------------------------------------------------------------------------------------------
MARCONI APPLIED TECNOLOGIES SA
- -----------------------------------------------------------------------------------------------
SNC COMPOSANTS & CIE
- -----------------------------------------------------------------------------------------------
NON-TRADING SUBSIDIARIES
- -----------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES LIMITED
- -----------------------------------------------------------------------------------------------
BRUTON STREET INVESTMENTS
- -----------------------------------------------------------------------------------------------
85
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
LIMITED
- -----------------------------------------------------------------------------------------------
EA CONTINENTAL LIMITED
- -----------------------------------------------------------------------------------------------
ELLIOTT-AUTOMATION HOLDINGS
LIMITED
- -----------------------------------------------------------------------------------------------
THE ENGLISH ELECTRIC COMPANY,
LIMITED
- -----------------------------------------------------------------------------------------------
Guarantee of approx. Guarantee of approx.
MARCONI (BRUTON STREET) L353,050,000, re SALE OF L353,050,000, re SALE
LIMITED MARCONI MOBILE HOLDINGS S.P.A BY OF MARCONI MOBILE HOLDINGS
MARCONI (BRUTON STREET) LIMITED S.P.A BY MARCONI (BRUTON
TO FINMECCANICA S.P.A. Currently STREET) LIMITED TO
relates to Plc and Marconi FINMECCANICA S.P.A. Currently
(Bruton Street) Limited, relates to Plc and Marconi
however, relevant to Corp as (Bruton Street) Limited,
part of the proposed however , relevant to Corp as
restructuring. Concurrent with part of the proposed
any Marconi Corporate restructuring. Concurrent
Restructuring, Plc is to procure with any Marconi Corporate
that the ultimate parent of Restructuring, Plc is to
Marconi and the company owing procure that the ultimate
all or substantially all of the parent of Marconi and the
assets of the Marconi Group company owing all or
immediately prior to the date of substantially all of the
completion of the Marconi Group assets of the Marconi Group
Restructuring [i.e. Corp] immediately prior to the date
novates the Marconi Guarantee of completion of the Marconi
under this deal [value: 57.7% of Group Restructuring [i.e.
the Purchase Price (this amounts Corp] novates the Marconi
to approx. L353,050,000, Guarantee under this deal
subject to any completion [value: 57.7% of the Purchase
adjustment)] to Corp [The cap Price (this amounts to
of L353,050,000 excludes approx. L353,050,000,
any matter regarding the Private subject to any completion
Mobile Radio and Public Mobile adjustment)] to Corp [The cap
Radio Business, the demergers of of L353,050,000
Marconi Holdings SpA and Marconi excludes any matter regarding
Communications SpA and the the Private Mobile Radio and
Closing Restructuring and any Public Mobile Radio Business,
matter relating to capacity, the demergers of Marconi
authority and title to the MMH Holdings SpA and Marconi
Shares and the Communications SpA and the
Closing Restructuring and any
matter relating to capacity,
authority and title to the
MMH Shares and the
- -----------------------------------------------------------------------------------------------
86
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
shares in the MMH Subsidiaries.] shares in the MMH
Subsidiaries.]
- -----------------------------------------------------------------------------------------------
MARCONI (HOLDINGS) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI AEROSPACE UNLIMITED
- -----------------------------------------------------------------------------------------------
MARCONI CAPITAL LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS AFRICA
(PTY) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (DGP1) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (DGP2) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (ELLIOTT AUTOMATION)
LIMITED
- -----------------------------------------------------------------------------------------------
MOBILE SYSTEMS INTERNATIONAL
HOLDINGS LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GMBH
(SWITZERLAND)
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS GMBH (GERMANY)
- -----------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL Marconi Corp. has given to
INDUSTRIES LTD (NOW KNOWN AS Marconi Australia Holdings
MARCONI AUSTRALIA HOLDINGS PTY Pty Ltd ("MAHL") a letter of
LIMITED) support in respect of an
intra-group transaction
comprising a loan from MAHL
to the Bedell and Cristin
Trustees Limited ("Bedell")
for GBP 11M, bearing
interest. Bedell does not
have adequate funds to repay
the loan itself.
Corp. has issued letters of
- -----------------------------------------------------------------------------------------------
87
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
comfort to MAHL in respect of
its business
- -----------------------------------------------------------------------------------------------
MARCONI HOLDINGS SPA Guarantee implied under
article 2362 of the Italian
Civil Code which may arise as
a result of the Marconi
Corporation plc's sole
shareholding in Marconi
Finanziaria SpA (now Marconi
Holdings SpA) for the period
from March 2000 to 29 October
2001.
- -----------------------------------------------------------------------------------------------
RELTEC MEXICO SA DE CV (NOW
KNOWN AS MARCONI
COMMUNICATIONS, S.A. DE C.V.)
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(CANADA)
- -----------------------------------------------------------------------------------------------
FS FINANCE CORP
- -----------------------------------------------------------------------------------------------
FS HOLDING CORP
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS NORTH
AMERICA INC.
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CANADA
HOLDINGS INC.
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS INC.
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL INC.
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(BERMUDA)
- -----------------------------------------------------------------------------------------------
DORMANT SUBSIDIARIES
- -----------------------------------------------------------------------------------------------
A.B. DICK HOLDINGS LTD DISPOSAL OF MARCONI DATA SYSTEMS
INC, MARCONI DATA SYSTEMS
LIMITED, MARCONI DATA SYSTEMS
EUROPE B.V. AND MARCONI DATA
SYSTEMS B.V. (Index
- -----------------------------------------------------------------------------------------------
88
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
ref: G.1.35) (10th January,
2002)
Plc guaranteed all the
obligations of the Sellers and
warranted its status, authority
and non-violation of any
obligation in providing the
guarantee. Note that the Sellers
have given extensive warranties
(on an indemnified basis), which
are all still in force
Sellers are jointly and
severally liable as follows:
1. usual warranties on an
indemnified basis;
2. tax warranties;
3. environmental warranties.
4. incorporation, authority,
shares and capital stock
warranties.
Other Sellers are Marconi
Systems Holdings, Inc. (now
Marconi, Inc.) and A.B. Dick
Holdings..
- -----------------------------------------------------------------------------------------------
ARROW LTD
- -----------------------------------------------------------------------------------------------
ASSOCIATED AUTOMATION LTD
- -----------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES HOLDINGS LTD
- -----------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES (MANCHESTER) LTD
- -----------------------------------------------------------------------------------------------
89
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
CLANVILLE LIMITED
- -----------------------------------------------------------------------------------------------
COMBINED ELECTRICAL
MANUFACTURERS LTD
- -----------------------------------------------------------------------------------------------
COPPENHALL NOMINEES LIMITED
- -----------------------------------------------------------------------------------------------
DAYMO LTD
- -----------------------------------------------------------------------------------------------
FF CHRESTIAN & CO LTD
- -----------------------------------------------------------------------------------------------
GPT CONSUMER PRODUCTS LTD
- -----------------------------------------------------------------------------------------------
GPT PAYPHONE SYSTEMS LTD
- -----------------------------------------------------------------------------------------------
GPT RELIANCE LTD
- -----------------------------------------------------------------------------------------------
THE KINGSWAY HOUSING
ASSOCIATION LTD
- -----------------------------------------------------------------------------------------------
KRAYFORD LTD
- -----------------------------------------------------------------------------------------------
LARNERWAY LTD
- -----------------------------------------------------------------------------------------------
LAYANA LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI CASWELL DEVELOPMENTS
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
FIBRES LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (FIFTEEN) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (FIFTY-NINE) LTD
- -----------------------------------------------------------------------------------------------
MARCONI (FIFTY-THREE) LTD
- -----------------------------------------------------------------------------------------------
MARCONI (FORTY-FIVE) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (FORTY-FOUR) LTD
- -----------------------------------------------------------------------------------------------
MARCONI (FORTY-THREE)
- -----------------------------------------------------------------------------------------------
90
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI G.M. LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI MOBILE SYSTEMS LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (NINE) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI PHOTONICA LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (SIXTEEN) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (SIXTY-NINE) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (SIXTY-TWO) LTD
- -----------------------------------------------------------------------------------------------
MARCONI (THIRTEEN) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (THIRTY-TWO) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (TLC) LTD
- -----------------------------------------------------------------------------------------------
MARCONI (TWENTY-SEVEN) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (WCGL) UNLIMITED
- -----------------------------------------------------------------------------------------------
MCMICHAEL LIMITED
- -----------------------------------------------------------------------------------------------
METROPOLITAN-VICKERS
ELECTRICAL CO LTD
- -----------------------------------------------------------------------------------------------
MOBILE SYSTEMS GROUP LTD
- -----------------------------------------------------------------------------------------------
MOBILE SYSTEMS (HOLDINGS) LTD
- -----------------------------------------------------------------------------------------------
MOBILE SYSTEMS SERVICES LTD
- -----------------------------------------------------------------------------------------------
91
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
MOBILE SYSTEMS (UK) LTD
- -----------------------------------------------------------------------------------------------
THE M-O VALVE CO LTD
- -----------------------------------------------------------------------------------------------
MSI CELLULAR INVESMTNETS (ONE)
LTD
- -----------------------------------------------------------------------------------------------
PALMAZ LTD
- -----------------------------------------------------------------------------------------------
PHOTONICA LIMITED
- -----------------------------------------------------------------------------------------------
PHOTONIQA LIMITED
- -----------------------------------------------------------------------------------------------
PYFORD LIMITED
- -----------------------------------------------------------------------------------------------
RAINFORD GROUP TRUSTEES LTD
- -----------------------------------------------------------------------------------------------
RAINFORD RACKS LTD
- -----------------------------------------------------------------------------------------------
RELTEC (COVENTRY) LTD
- -----------------------------------------------------------------------------------------------
ROBERT STEPHENSON & HAWTHORNS
LTD
- -----------------------------------------------------------------------------------------------
THE ROTARY ENGINEERING COMPANY
LIMITED
- -----------------------------------------------------------------------------------------------
SALPLEX LTD
- -----------------------------------------------------------------------------------------------
STYLES & MEALING LIMITED
- -----------------------------------------------------------------------------------------------
TCL PROJECTS LIMITED
- -----------------------------------------------------------------------------------------------
ZIPBOND LTD
- -----------------------------------------------------------------------------------------------
THE VULCAN FOUNDRY LTD
- -----------------------------------------------------------------------------------------------
TRADING SUBSIDIARIES
(OTHERS)
- -----------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES INTERNATIONAL
LIMITED
- -----------------------------------------------------------------------------------------------
FORE SYSTEMS LIMITED
- -----------------------------------------------------------------------------------------------
92
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
GPT MIDDLE EAST LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS (CIS)
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI FINANCE PLC
- -----------------------------------------------------------------------------------------------
MARCONI FLEET MANAGEMENT
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI INFORMATION SYSTEMS
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (NCP) LIMITED
- -----------------------------------------------------------------------------------------------
NETSCIENT LIMITED
- -----------------------------------------------------------------------------------------------
NORTHWOOD TECHNOLOGIES LIMITED
- -----------------------------------------------------------------------------------------------
TELEPHONE CABLES LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CHINA
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL HOLDINGS LIMITED
- -----------------------------------------------------------------------------------------------
BRUTON STREET OVERSEAS
INVESTMENTS LIMITED
- -----------------------------------------------------------------------------------------------
BRUTON STREET PARTNERSHIP
- -----------------------------------------------------------------------------------------------
MARCONI INDIA LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (THIRTY-ONE) LIMITED
- -----------------------------------------------------------------------------------------------
HIGHROSE LIMITED
- -----------------------------------------------------------------------------------------------
ANCRANE LIMITED
- -----------------------------------------------------------------------------------------------
WOODS OF COLCHESTER
- -----------------------------------------------------------------------------------------------
93
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
HOUSING SOCIETY LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI INSURANCE LIMITED
- -----------------------------------------------------------------------------------------------
TETREL LIMITED
- -----------------------------------------------------------------------------------------------
RELTEC SERVICES (UK) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI ANSTY LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI NOMINEES LIMITED
- -----------------------------------------------------------------------------------------------
YESLINK UNLIMITED
- -----------------------------------------------------------------------------------------------
ELLIOT AUTOMATION
CONTINENTAL SA
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL NOMINEES LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI DEFENSE OVERSEAS
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GLOBAL
NETWORKS LIMITED
- -----------------------------------------------------------------------------------------------
MARCONICOM LIMITED
- -----------------------------------------------------------------------------------------------
MICRO SCOPE LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL INVESTMENTS
LIMITED
- -----------------------------------------------------------------------------------------------
GPT (NEDERLAND) BV
- -----------------------------------------------------------------------------------------------
GEC OF PAKISTAN LIMITED
- -----------------------------------------------------------------------------------------------
GEC ZAMBIA LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS AB
- -----------------------------------------------------------------------------------------------
94
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS BVBA
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SARL
- -----------------------------------------------------------------------------------------------
MARCONI CHANNEL MARKETS GMBH
- -----------------------------------------------------------------------------------------------
AEI FURNACES PTY LTD
- -----------------------------------------------------------------------------------------------
HARMAN INFORMATION TECHNOLOGY
PTY LTD
- -----------------------------------------------------------------------------------------------
MARCONI NEW ZEALAND LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI TELECOMMUNICATIONS
INDIA PRIVATE LTD
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (AUSTRALIA) PTY
LTD
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (HONG KONG)
LIMITED
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (INDIA) PRIVATE
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI ACQUISITION CORP
- -----------------------------------------------------------------------------------------------
MARCONI FINANCE INC.
- -----------------------------------------------------------------------------------------------
NORTHWOOD TECHNOLOGIES INC.
- -----------------------------------------------------------------------------------------------
APT NEDERLANDS BV
- -----------------------------------------------------------------------------------------------
APT TELECOMMUNICIONES SL
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL AB
- -----------------------------------------------------------------------------------------------
95
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED BY PLC OWED BY CORP
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL BRASIL LTDA
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (FRANCE) SA
- -----------------------------------------------------------------------------------------------
MARCONI PROJECTS HONG KONG LTD
- -----------------------------------------------------------------------------------------------
96
PART 2
NON-FINANCIAL GUARANTEES AND INDEMNITIES GIVEN BY PARTICPATING
COMPANIES
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
TRADING COMPANIES (MATERIAL)
ALBANY PARTNERSHIP LIMITED
- -----------------------------------------------------------------------------------------------
GPT SPECIAL PROJECT MANAGEMENT
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI BONDING LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INVESTMENTS LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(IRELAND)
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS In consideration of Corp
LIMITED (UK) agreeing to provide the
services of certain
executives, each of whom has
signed a service agreement
with corp, for the purposes
of advising on MCL's
business, MCL unconditionally
and irrevocably guarantees to
all of these executives the
due and punctual performance
and observance by corp of all
its obligations, commitments
and undertakings under and
pursuant to each of their
respective service agreements
as mentioned above, and
agrees to indemnify each
executive in respect of any
breach by
- -----------------------------------------------------------------------------------------------
97
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
corp, of any of its
obligations, commitments and
undertakings under and
pursuant to each respective
service agreement. This
guarantee is to be a
continuing guarantee and
accordingly is to remain in
force until all obligations
of corp shall have been
performed or satisfied.
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
NETWORKS LIMITED (IRELAND)
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
OVERSEAS SERVICES LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SOUTH
AFRICA PTY LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI OPTICAL COMPONENTS
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI CORPORATION PLC
- -----------------------------------------------------------------------------------------------
MARCONI plc SALE OF THE SHARE CAPITAL OF
YESLINK INTERCO LTD. AND
YESLINK UNLIMITED TO
PRUDENTIAL
Indemnity by PLC in respect
of all costs, expenses and
liabilities incurred to the
extent that Corp did not meet
its obligations under the
Trade Mark Assignment.
Trade mark indemnity is
uncapped.
SALE OF MARCONI MEDICAL
SYSTEMS HOLDINGS, INC. (3rd
July, 2000)
According to Marconi, Plc
guaranteed the Seller's
obligations under this
agreement.
- -----------------------------------------------------------------------------------------------
98
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
On 15th July, 2002, Corp,
Marconi, Inc. (as successor
to Marconi Holding Systems,
Inc.) and Philips entered
into a Final Settlement
Agreement. Under this
Agreement, the purchase price
was adjusted to US$837
million. The value of the
Closing Net Assets was agreed
to be US$755 million. Marconi
paid Philips US$12 million on
19th July, 2002 and was
released from liabilities in
relation to the warranty in
respect of the non-US Vendor
Debt (Latin American debt)
which was rescinded and in
relation to the indemnity for
breach of representation.
US$8 million of this was in
full satisfaction of
Marconi's payment obligations
under the Stock Purchase
Agreement. The tax indemnity
under the Stock Purchase
Agreement remains in effect,
including in respect of the
tax liabilities that could
have been included in
determining the Closing Net
Assets.
Following the Final
Settlement Agreement,
estimated liability is
US$15.3 million (being
approx. L10 million).
DISPOSAL OF MARCONI DATA
SYSTEMS INC, MARCONI DATA
SYSTEMS LIMITED, MARCONI DATA
SYSTEMS EUROPE B.V. AND
MARCONI DATA SYSTEMS B.V.
(10th January, 2002)
Sellers were Marconi
- -----------------------------------------------------------------------------------------------
99
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
Systems Holdings, Inc. (now
Marconi, Inc.) and A.B. Dick
Holdings. Corp was a
joint-Seller.
Plc guaranteed all the
obligations of the Sellers
and warranted its status,
authority and non-violation
of any obligation in
providing the guarantee. Note
that the Sellers have given
extensive warranties (on an
indemnified basis), which are
all still in force:
1. usual warranties on an
indemnified basis;
2. tax warranties;
3. environmental warranties;
and
4. incorporation, authority,
shares and capital stock
warranties.
Total not to exceed US$100
million (US$100 million is
25% of purchase price).
SALE OF MARCONI COMMERCE
SYSTEMS, INC. AND MARCONI
COMMERCE SYSTEMS LIMITED
(20th December, 2001)
Plc guaranteed the
obligations of the sellers.
Corp is a Joint seller with
Marconi Systems Holdings,
Inc. (now Marconi, Inc.) (the
"SELLERS").
Capped at 25% of the Adjusted
Purchase Price (25% is
approx. US$81.25
- -----------------------------------------------------------------------------------------------
100
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
million)..
- -----------------------------------------------------------------------------------------------
MARCONI SOFTWARE SOLUTIONS
LIMITED
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL LIMITED
- -----------------------------------------------------------------------------------------------
RONALDI LTD
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SA
(FRANCE)
- -----------------------------------------------------------------------------------------------
MNI TECNOLOGIASE E SISTEMAS DE
COMMUNICACAO SA
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS B.V.
(NETHERLANDS)
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GMBH
(GERMANY)
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS REAL
ESTATE GMBH
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOFTWARE SYSTEMS GMBH
& CO KG
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
SOFTWARE SYSTEMS VER. GMBH
- -----------------------------------------------------------------------------------------------
BEIJING MARCONI COMMUNICATIONS
TECHNOLOGY CO LTD
- -----------------------------------------------------------------------------------------------
GEC (HONG KONG) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI AUSTRALIA PTY LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS ASIA
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SOUTH
EAST ASIA PTE LTD
- -----------------------------------------------------------------------------------------------
101
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
THE GENERAL ELECTRIC COMPANY
OF SINGAPORE PRIVATE LIMITED
(NOW KNOWN AS MARCONI
SINGAPORE PTE LTD)
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONSSpA
- -----------------------------------------------------------------------------------------------
MARCONI IBERIA SA
- -----------------------------------------------------------------------------------------------
MARCONI MOBILE ACCESS SpA
- -----------------------------------------------------------------------------------------------
MARCONI SUD SpA
- -----------------------------------------------------------------------------------------------
MARCONI INTERNATIONAL SpA
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS de
MEXICO SA DE CV
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
TELEMULTI LIMITADA
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS DO
BRASIL LTDA
- -----------------------------------------------------------------------------------------------
FORE SYSTEMS LIMITADA
- -----------------------------------------------------------------------------------------------
MARCONI COLUMBIA SA
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
ARGENTINA SA
- -----------------------------------------------------------------------------------------------
MARCONI VENEZUELA CA
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
OPTICAL NETWORKS CORP
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
TECHNOLOGY INC
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
CANADA INC
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
FEDERAL INC
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
- -----------------------------------------------------------------------------------------------
102
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
INC
- -----------------------------------------------------------------------------------------------
MARCONI INC
- -----------------------------------------------------------------------------------------------
MARCONI SOFTWARE
INTERNATIONAL INC
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (US) INC
- -----------------------------------------------------------------------------------------------
SYSTEMS MANAGEMENT
SPECIALISTS INC
- -----------------------------------------------------------------------------------------------
MARCONI MIDDLE EAST
(SAUDI ARABIA)
- -----------------------------------------------------------------------------------------------
MARCONI MIDDLE EAST
LLC (DUBAI)
- -----------------------------------------------------------------------------------------------
MARCONI APPLIED
TECNOLOGIES SA
- -----------------------------------------------------------------------------------------------
SNC COMPOSANTS & CIE
- -----------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------
NON-TRADING SUBSIDIARIES
- -----------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES LIMITED
- -----------------------------------------------------------------------------------------------
BRUTON STREET INVESTMENTS
LIMITED
- -----------------------------------------------------------------------------------------------
EA CONTINENTAL LIMITED
- -----------------------------------------------------------------------------------------------
ELLIOTT-AUTOMATION HOLDINGS
LIMITED
- -----------------------------------------------------------------------------------------------
THE ENGLISH ELECTRIC COMPANY,
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (BRUTON STREET)
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (HOLDINGS)
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI AEROSPACE
- -----------------------------------------------------------------------------------------------
103
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
UNLIMITED
- -----------------------------------------------------------------------------------------------
MARCONI CAPITAL LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS AFRICA
(PTY) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (DGP1) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (DGP2) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (ELLIOTT AUTOMATION)
LIMITED
- -----------------------------------------------------------------------------------------------
MOBILE SYSTEMS INTERNATIONAL
HOLDINGS LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GMBH
(SWITZERLAND)
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS GMBH (GERMANY)
- -----------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES LTD (NOW KNOWN AS
MARCONI AUSTRALIA HOLDINGS PTY
LIMITED)
- -----------------------------------------------------------------------------------------------
MARCONI HOLDINGS SPA
- -----------------------------------------------------------------------------------------------
RELTEC MEXICO SA DE CV (NOW
KNOWN AS MARCONI
COMMUNICATIONS, S.A. DE C.V.)
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(CANADA)
- -----------------------------------------------------------------------------------------------
FS FINANCE CORP
- -----------------------------------------------------------------------------------------------
FS HOLDING CORP
- -----------------------------------------------------------------------------------------------
104
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS NORTH
AMERICA INC.
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CANADA
HOLDINGS INC.
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
HOLDINGS INC.
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL INC.
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS LIMITED
(BERMUDA)
- -----------------------------------------------------------------------------------------------
DORMANT SUBSIDIARIES
- -----------------------------------------------------------------------------------------------
A.B. DICK HOLDINGS LTD
- -----------------------------------------------------------------------------------------------
ARROW LTD
- -----------------------------------------------------------------------------------------------
ASSOCIATED AUTOMATION LTD
- -----------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES HOLDINGS LTD
- -----------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES (MANCHESTER) LTD
- -----------------------------------------------------------------------------------------------
CLANVILLE LIMITED
- -----------------------------------------------------------------------------------------------
COMBINED ELECTRICAL
MANUFACTURERS LTD
- -----------------------------------------------------------------------------------------------
COPPENHALL NOMINEES LIMITED
- -----------------------------------------------------------------------------------------------
DAYMO LTD
- -----------------------------------------------------------------------------------------------
FF CHRESTIAN & CO LTD
- -----------------------------------------------------------------------------------------------
GPT CONSUMER PRODUCTS LTD
- -----------------------------------------------------------------------------------------------
105
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
GPT PAYPHONE SYSTEMS LTD
- -----------------------------------------------------------------------------------------------
GPT RELIANCE LTD
- -----------------------------------------------------------------------------------------------
THE KINGSWAY HOUSING
ASSOCIATION LTD
- -----------------------------------------------------------------------------------------------
KRAYFORD LTD
- -----------------------------------------------------------------------------------------------
LARNERWAY LTD
- -----------------------------------------------------------------------------------------------
LAYANA LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI CASWELL DEVELOPMENTS
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS OPTICAL
FIBRES LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (FIFTEEN) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (FIFTY-NINE) LTD
- -----------------------------------------------------------------------------------------------
MARCONI (FIFTY-THREE) LTD
- -----------------------------------------------------------------------------------------------
MARCONI (FORTY-FIVE) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (FORTY-FOUR) LTD
- -----------------------------------------------------------------------------------------------
MARCONI (FORTY-THREE) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI G.M. LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI MOBILE SYSTEMS LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (NINE) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI PHOTONICA LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (SIXTEEN) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (SIXTY-NINE)
- -----------------------------------------------------------------------------------------------
106
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (SIXTY-TWO) LTD
- -----------------------------------------------------------------------------------------------
MARCONI (THIRTEEN) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (THIRTY-TWO) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (TLC) LTD
- -----------------------------------------------------------------------------------------------
MARCONI (TWENTY-SEVEN) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (WCGL) UNLIMITED
- -----------------------------------------------------------------------------------------------
MCMICHAEL LIMITED
- -----------------------------------------------------------------------------------------------
METROPOLITAN-VICKERS
ELECTRICAL CO LTD
- -----------------------------------------------------------------------------------------------
MOBILE SYSTEMS GROUP LTD
- -----------------------------------------------------------------------------------------------
MOBILE SYSTEMS (HOLDINGS) LTD
- -----------------------------------------------------------------------------------------------
MOBILE SYSTEMS SERVICES LTD
- -----------------------------------------------------------------------------------------------
MOBILE SYSTEMS (UK) LTD
- -----------------------------------------------------------------------------------------------
THE M-O VALVE CO LTD
- -----------------------------------------------------------------------------------------------
MSI CELLULAR INVESMTNETS (ONE)
LTD
- -----------------------------------------------------------------------------------------------
PALMAZ LTD
- -----------------------------------------------------------------------------------------------
PHOTONICA LIMITED
- -----------------------------------------------------------------------------------------------
PHOTONIQA LIMITED
- -----------------------------------------------------------------------------------------------
PYFORD LIMITED
- -----------------------------------------------------------------------------------------------
107
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
RAINFORD GROUP TRUSTEES LTD
- -----------------------------------------------------------------------------------------------
RAINFORD RACKS LTD
- -----------------------------------------------------------------------------------------------
RELTEC (COVENTRY) LTD
- -----------------------------------------------------------------------------------------------
ROBERT STEPHENSON & HAWTHORNS
LTD
- -----------------------------------------------------------------------------------------------
THE ROTARY ENGINEERING COMPANY
LIMITED
- -----------------------------------------------------------------------------------------------
SALPLEX LTD
- -----------------------------------------------------------------------------------------------
STYLES & MEALING LIMITED
- -----------------------------------------------------------------------------------------------
TCL PROJECTS LIMITED
- -----------------------------------------------------------------------------------------------
ZIPBOND LTD
- -----------------------------------------------------------------------------------------------
THE VULCAN FOUNDRY LTD
- -----------------------------------------------------------------------------------------------
TRADING SUBSIDIARIES (OTHERS)
- -----------------------------------------------------------------------------------------------
ASSOCIATED ELECTRICAL
INDUSTRIES INTERNATIONAL
LIMITED
- -----------------------------------------------------------------------------------------------
FORE SYSTEMS LIMITED
- -----------------------------------------------------------------------------------------------
GPT MIDDLE EAST LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS (CIS)
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI FINANCE PLC
- -----------------------------------------------------------------------------------------------
MARCONI FLEET MANAGEMENT
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI INFORMATION SYSTEMS
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (NCP) LIMITED
- -----------------------------------------------------------------------------------------------
108
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
NETSCIENT LIMITED
- -----------------------------------------------------------------------------------------------
NORTHWOOD TECHNOLOGIES LIMITED
- -----------------------------------------------------------------------------------------------
TELEPHONE CABLES LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS CHINA
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL HOLDINGS LIMITED
- -----------------------------------------------------------------------------------------------
BRUTON STREET OVERSEAS
INVESTMENTS LIMITED
- -----------------------------------------------------------------------------------------------
BRUTON STREET PARTNERSHIP
- -----------------------------------------------------------------------------------------------
MARCONI INDIA LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI (THIRTY-ONE) LIMITED
- -----------------------------------------------------------------------------------------------
HIGHROSE LIMITED
- -----------------------------------------------------------------------------------------------
ANCRANE LIMITED
- -----------------------------------------------------------------------------------------------
WOODS OF COLCHESTER HOUSING
SOCIETY LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI INSURANCE LIMITED
- -----------------------------------------------------------------------------------------------
TETREL LIMITED
- -----------------------------------------------------------------------------------------------
RELTEC SERVICES (UK) LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI ANSTY LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI NOMINEES LIMITED
- -----------------------------------------------------------------------------------------------
109
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
YESLINK UNLIMITED
- -----------------------------------------------------------------------------------------------
ELLIOT AUTOMATION CONTINENTAL
SA
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL NOMINEES LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI DEFENSE OVERSEAS
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS GLOBAL
NETWORKS LIMITED
- -----------------------------------------------------------------------------------------------
MARCONICOM LIMITED
- -----------------------------------------------------------------------------------------------
MICRO SCOPE LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS
INTERNATIONAL INVESTMENTS
LIMITED
- -----------------------------------------------------------------------------------------------
GPT (NEDERLAND) BV
- -----------------------------------------------------------------------------------------------
GEC OF PAKISTAN LIMITED
- -----------------------------------------------------------------------------------------------
GEC ZAMBIA LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS AB
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS BVBA
- -----------------------------------------------------------------------------------------------
MARCONI COMMUNICATIONS SARL
- -----------------------------------------------------------------------------------------------
MARCONI CHANNEL MARKETS GMBH
- -----------------------------------------------------------------------------------------------
AEI FURNACES PTY LTD
- -----------------------------------------------------------------------------------------------
HARMAN INFORMATION TECHNOLOGY
PTY LTD
- -----------------------------------------------------------------------------------------------
MARCONI NEW ZEALAND
- -----------------------------------------------------------------------------------------------
110
OFF-BALANCE SHEET LIABILITIES
- -----------------------------------------------------------------------------------------------
OWED TO PLC OWED TO CORP
- -----------------------------------------------------------------------------------------------
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI TELECOMMUNICATIONS
INDIA PRIVATE LTD
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (AUSTRALIA) PTY
LTD
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (HONG KONG)
LIMITED
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (INDIA) PRIVATE
LIMITED
- -----------------------------------------------------------------------------------------------
MARCONI ACQUISITION CORP
- -----------------------------------------------------------------------------------------------
MARCONI FINANCE INC.
- -----------------------------------------------------------------------------------------------
NORTHWOOD TECHNOLOGIES INC.
- -----------------------------------------------------------------------------------------------
APT NEDERLANDS BV
- -----------------------------------------------------------------------------------------------
APT TELECOMMUNICIONES SL
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL AB
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL BRASIL LTDA
- -----------------------------------------------------------------------------------------------
METAPATH SOFTWARE
INTERNATIONAL (FRANCE) SA
- -----------------------------------------------------------------------------------------------
MARCONI PROJECTS HONG KONG LTD
- -----------------------------------------------------------------------------------------------
111
IN WITNESS of which this Agreement has been executed as an Agreement and has
been delivered on the date which appears first on page 1.
SIGNED by ) CHRIS HOLDEN
for MARCONI )
CORPORATION PLC )
as CORP )
SIGNED by ) CHRIS HOLDEN
for MARCONI )
CORPORATION PLC )
as a TRADING COMPANY )
SIGNED by ) CHRIS HOLDEN
for MARCONI PLC )
as plc )
SIGNED by ) CHRIS HOLDEN
for MARCONI PLC )
as a TRADING COMPANY )
112