HODGES AND ASSOCIATES – July 20, 2010

HODGES AND ASSOCIATES

A PROFESSIONAL LAW CORPORATION

A. CLIFTON HODGES                                                                                                                                                                               4 EAST HOLLY STREET
JAMES S. KOSTAS                                                                                                                                                                     SUITE 202
DONALD W. RICKETTS*                                                                                                                                                             PASADENA, CA. 91103                                                                                                                                                                                          TEL  (626) 564-9797

* OF COUNSEL                                                                                                                                                                             FAX  (626) 564-9111

July 20, 2010

Sent Via E-Mail and Facsimile

Fax No. 020 7270 4580

The Right Honorable George Osborne, MP
Chancellor of the Exchequer
HM treasury
Horse Guards Road
London SW1A 2HQ

Re:       U.S. Dollar Refunding Project

Dear Honorable George Osborne:

I write to you once more in furtherance of matters raised in my prior correspondence on behalf of my clients Michael C. Cottrell, B.A., M.S., of Erie, Pennsylvania, USA, and his corporations: Pennsylvania Investments, Inc., registered in the Commonwealth of Pennsylvania, and Cottrell Securities Limited, registered in England and Wales.

The events of the past week are both tragic and untimely.  By post, dated July 16, 2010 we received notice [copy attached] of the passing of Mr. Christopher Story, FRSA:  Because of Mr. Story’s rather intimate past involvement with the U.S. Dollar Refunding Project, Mr. Cottrell wanted to provide assurance to all parties that provisions had been made, and are currently in place for the project to proceed as originally conceived and on schedule.

Please be advised that Michael C. Cottrell, Pennsylvania Investments, Inc., and Cottrell Securities Limited are fully prepared to accept the U.S. Dollar Refunding Project loan proceeds from the Royal Monarchal Power or nominee, and to proceed immediately with implementation of all requisite activities to accomplish the defined goals of the Project.  If I can provide any additional information or help, please feel free to contact me directly.

Sincerely,

    HODGES AND ASSOCIATES

A. CLIFTON HODGES

ACH/gm

Cc:  Michael C. Cottrell
Pennsylvania Investments, Inc.
Cottrell Securities Limited

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