BAT INDUSTRIES LIMITED
Rogd.Office: P.O.Box345 Windsor House 50 Victoria Street London SWIM ONL
IncorporAted ir London-Na. =112
TNIVESTMEN'T, DEPARTMX.'%"r
Telegraphic Address Satind London SWI
Ttlez913393
hereby certify, pursuant to Sections 4(b) and (c)
of the Guaranty Agreement dated as of April 9, 1980 (the
'Guaranty Agreement') of B.A.T industries Limited (the
'Guarantor') rel-atine to the X100,000,000 Note Agreements
dated as of March 1, IA976 as amended by the Amendment
Agreements dated Apr!! 9, 1980 (together the 'Note
Agreements') of B.A.T international Finamce Limited, tSat
the balance sheets and profit and loss accounts for 'the
Guarantor and for the Group (as defined in the Guaranty
Agreement) for the twelve months ended 31st December 1980,
sent to you, give a "rue and fair view of the profits of
the Guarantor and the Group for such period on the basis of
accounting principles consistently applied (except as stated
in such accounts) and comply with the Companies Acts '948
and 1967, subject to chonges resulting from year-end
adjustments.
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;inan Dir c: o 0! e G
Checked and approved
for siggature .............. rN,;
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..............
A.%Iernb;r of the B.A.T Group cc
B.A.T INKWMIES P.LC. MINNEWTA DEposrroRy Copy - PWWcED PURWAKr To I VILD. oF
Co"SENT JUDGMEW DATED 518M M SrATE OF AOMMSOTA, ET AL V. PH&P MORA% Er CAsE Hm C14K4=5