DRAFT DEED OF PARTNERSHIP

Scope and Content

1. J.W. Owen and Hughes of 4 Victoria Buildings, Deganwy, builders, decorators and contractors.

2. Arthur Hewitt of Bank Chambers, Llandudno, surveyor and architect.

Re: parties have purchased two pieces of land in Llanrhos and Llandudno-cum-Eglwysrhos with a view to building several dwellinghouses and premises and are therefore going into partnership in this single venture.