Meeting 21 May 2003

Meeting at the London office of The Equitable Life Assurance Society, City Place House,

55 Basinghall Street, London, EC2V 5DR at 3.30 p.m. on Wednesday, 21 May 2003



Equitable Policy Holders Action Group :

Michael Caley

Nicholas Oglethorpe

Equitable Life Members Help Group: Liz Kwantes

Vanni Treves (Chairman)

Charles Thomson (Director, Chief Executive)

Nigel Brinn (Finance & Investment Director)  

Andrew Threadgold (Director)

Tony McGarahan (Chief Communications Officer)

Peter Wilmot (Company Secretary)

1. Terms for the meeting - confidentiality
- reporting on the meeting
- minutes
2. Minutes of the meeting held on 21 January 2003
3. Corporate update and strategic objectives  - Vanni Treves/Charles Thomson
4. Items EPHAG/ELMHG have requested to discuss:
4.1 Financial Report - explanation of the current financial situation
- current level of provisions (and major components)
 4.2 With-Profits Annuities -  reductions in payments to with-profits annuitants
- recent press speculation regarding potential sale of the with-profits annuities book of business
4.3 Rectification current position
4.4 Legal Actions update on the cases in hand
4.5 Parliamentary Ombudsman Inquiry

possibility of, and support for, a wider examination through this route for possible compensation

4.6 Political Pressure to support Compensation

what action has ELAS undertaken, if any, to date.  What plans exist for the future.  

5. Arrangements for future meetings
6. Any other business