EFTA01835108

PRICEWATERHO U s E C C O P E R S PricewaterhouseCoopers LLP J O'Sullivan Esq pwc.com 7 January 2011 WITHOUT PREJUDICE Dear Mr O'Sullivan, The Duchess of York ("The Duchess") As you are aware, we are advising HRH The Duke of York and The Duchess concerning her financial affairs. Previously, an informal offer of 25p in the pound was made to creditors but, unfortunately, there was no unanimous acceptance. However, all significant creditors have now agreed to the offer and it is the intention of The Duke of York to provide funds so that The Duchess can reach a final agreement with her creditors. According to our records, your claim is $126,721 and accordingly a payment of $31,680 is offered without prejudice in full and final settlement. We attach a simple form of agreement which we will be glad if you will sign and return if you are prepared to accept the offer. As the Duke of York hopes to be able to make payment this week, if you are able to return the signed agreement by email we would be most grateful. Should you wish to be paid by bank transfer, please provide your account details. Yours faithfully PricewaterhouseCoopers LLP PricenterhouseCoepers LLP d a tinted liablita caramel, registered in England Imth regstered number OC303.525. The registered office al PrIcenetethouseCoccers Lip is I Embankment Place. London YVC2N 6R11 Prieevaisch0useCoopers LLP is atone ise0 and rewtated by the FinenCiai Sences authority lot designated cycsament business EFTA_R1_00214585 EFTA01835108