In the UK, there are two organisations :

- Elan Vital, which is a registered charity, and
- Elan Vital Ltd., which is a registered company.

Elan Vital Ltd. is wholly owned by Elan Vital, and, very likely handles the sale of materials.

The following information is taken from the 2001 Financial Return lodged with the Registrar of Companies by Elan Vital Ltd., a company Registered in the UK.

Copies of the full Return for 2001 and other years may be obtained from Companies House http://www.companies-house.gov.uk/ - a fee is chargeable for this service, alternatively the Company may be approached directly - see item 11) below.

The transcript of the annual report is reproduced below. The originals can be viewed here (Needs Adobe^® Acrobat^® Reader installed on your computer).

See also the Form 363a: EV-UK Annual Return to the Companies House (Needs Adobe^® Acrobat^® Reader installed on your computer).

The annual report for the charity is also available on this website.

Cover page

"Department of Trade" Copy
Company No: 2289543

ELAN VITAL LIMITED

Balance Sheet and Accounts

For the Year Ended 31 March 2001

N. HARRIS &. Co.
Registered Auditors
LONDON

Page 1

ELAN VITAL LIMITED

Registered Office:
The Drive, Hove EAST SUSSEX BN3 3JE

NOTICE IS HEREBY GIVEN THAT THE 2002 General Meeting of the Members of the Company will be held at 3 The Drive, Hove, East Sussex BN3 3JE on the 8th day of January 2002 at 3.00 p.m. I. 2. 3.

1. Notice convening the Meeting.

2. Minutes of Previous Annual General Meeting.

3. To receive and approve the Report of the Directors and the Accounts of the Company for the year ended 31 March 2001.

4. Appoint or re-appoint Auditors.

5. To transact any other business of an Annual General Meeting.

A Member entitled to attend and vote is entitled to appoint a proxy to attend and on a poll, to vote instead of him. A proxy need not be a Member of the Company.

BY ORDER OF THE BOARD
NORMA WILSHAW
Secretary

Page 2

ELAN VITAL LIMITED

Registered Office :
3 The Drive, Hove,
East Sussex BN3 3JE

DIRECTORS' REPORT

The Directors are pleased to submit their Report and the Company's Accounts for the year ended 31 March 2001.

Statement Of Directors' Responsibilities
Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those financial statements, the directors are required to:

( i ) Select suitable accounting policies and then apply them consistently;

( ii ) Make judgements and estimates that are reasonable and prudent;

( iii ) State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

( iv ) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results And Dividends
The profit for the financial year after tax and after covenanted donations was £59 (2000 - £583).

The directors do not propose that any dividend be paid, and recommend that the above amount be credited to reserves.

Review Of Business Development
The principal activity of the Company continued to be that of conference and convention organisers and general traders.

Turnover for the year was £193022 (2000 - £384336)

The directors attribute the decrease in Turnover mainly to the fluctuation in receipts from conferences and travel bookings.

Page 3

Events After The End Of The Year
No major events affecting the Company have occurred after the end of the year, nor are any future developments presently envisaged.

Directors And Their Interests
The directors of the Company during the year were as follows :-

G M S Whittaker
N Wilshaw

Neither of the directors had any interest in the share capital of the Company.

Political And Charitable Contributions
The Company is a wholly owned subsidiary of Elan Vital, a registered charity and has covenanted to donate all its profits which would be chargeable to corporation tax to Elan Vital.

The donation for the year amounted to £44081 (2000 - £134109).

There were no political donations during the year.

Auditors
A resolution to re-appoint as Auditors, Messrs N Harris & Company, Registered Auditors, will be put to the Members at the Annual General Meeting.

FOR AND ON BEHALF OF
THE BOARD OF DIRECTORS

Page 4

REPORT OF THE AUDITORS TO THE MEMBERS OF
ELAN VITAL LIMITED

We have audited the financial statements on Pages 5 to 10 Which have been prepared under the historical cost convention and the accounting policies set out on page 7.

Respective responsibilities of Directors and Auditors
As described on Page 2 the Company's directors are responsible for the preparation of financial statements. It is our responsibility to form an independent opinion, based on our audit, on those statements and to report our opinion to you.

Basis of Opinion
We conducted our audit in accordance with Auditing Standards issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the directors in the preparation of the financial statements, and of whether the accounting policies are appropriate to the Company's circumstances, consistently applied and adequately disclosed.

We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements.

Opinion
In our opinion the financial statements give a true and fair view of the state of the Company's affairs as at 31st day of March 2001 and of its profit for the year then ended and have been properly prepared in accordance with the Companies Act 1985.

N Harris & Co
Registered Auditors
155-157A Clapham High Street
London SW4 7SY

LONDON - 14th day of December 2001

Page 5

Page 6

The Accounts on pages 5 to 10 have been prepared in accordance with the special provisions relating to small companies within part VII of the Companies Act 1985 and with the Financial Reporting Standard for Smaller Entities (effective March 2000).

The Accounts were approved by the Board of Directors on 14 December 2001 and signed on its behalf by :-

Norma Wilshaw
G. Whittaker

DIRECTORS

Page 7

Page 8

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2001

1) Accounting Policies
These accounts have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective March 2000) under the historical cost convention, adopting the following principal accounting policies:

a) Turnover
Turnover represents sales at invoiced value to outside customers excluding Value Added Tax.

b) Depreciation
Tangible fixed assets are depreciated using the reducing balance method at 15% per annum.

c) Stocks
Stock has been valued at the lower of cost (including an appropriate charge for import duty and freight) and net realisable value, on a first-in, first-out basis.

d) Deferred Taxation
No provision has been made in these Accounts for deferred taxation as, in the opinion of the directors, no actual liability is expected to crystallise in the foreseeable future.

e) Foreign Currency
Assets and liabilities denominated in foreign currencies are translated at the rate of exchange prevailing at the Balance Sheet date.

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction.

All differences are taken to the Profit and Loss Account.

2) Turnover and Profit Analysis
The Company's turnover is derived mainly from within the United Kingdom from its principal activity, which is the organisation of conferences and conventions and general trading.

3) StaffCosts

Page 9

4) Particulars of Staff
The company had 2 employees during the year who were employed in Selling and Administration, the same as in the year ended 31 March 2000.

5) Operating Profit (Loss)
Operating Loss for the year is arrived at after accounting for the following items :-

6) Tangible Fixed Assets

Page 10

7) Stocks

	2001	2000
	£	£
Finished Goods for Resale	34695	27601

The replacement cost of stocks at the Balance sheet date was not substantially different from the values stated at the lower of cost and net realisable value shown above.

8) Debtors

9) Creditors

10) Pension Commitments
There was no company pension scheme in operation during the year under review, nor any other pension commitments.

11) Parent Undertaking
The Company is a wholly owned subsidiary of Elan Vital, a charity registered with the Charity Commission. Copies of the group accounts prepared by Elan Vital can be obtained from the Charity at 3, The Drive, Hove, East Sussex BN3 3JE.

See also the Form 363a: EV-UK Annual Return to the Companies House (Needs Acrobat^® Reader installed on your computer).