Griffin Speculators Investment Club

Minutes of Meeting held on Wed 5th July 2000

Present: Jon Kitch, Graham Roy, Richard Poole, Andy Taylor, Neil
Hogg, Paul Manning, Ian Cosford, Dean Cunliffe, Keith Burbanks,
Nick Walch, Nick Pollard.

Apologies: Andy Slinn, Tim Bentley

Previous Minutes: Minutes of the monthly meeting of 7th June 2000
were approved.

Treasurer's Report:

Treasurer reported the following figures :

HSBC : #529.80
Charles Schwab : #116.06
Petty Cash : # 0.55

Tot : #646.41

Less
Admin. Fund : # 27.85

Amount due to
to Invest at meeting : #618.56
(not including sales)

Net Assets : #5922.31
(105.53% of total current cash contributions since
inception)

Unit Price : #0.96

Current Portfolio :

The meeting agreed to hold on to all current holdings.

Additional Investment:

Paul Manning and Ian Cosford both applied to purchase an
additional 50 units in the club. These were accepted.

There were no applications to increase monthly subscriptions.

This Months Investment Decision

The vote was as follows

Do Nothing 21
Quintain Estates 15
Eidos 30

It was decided therefore to invest #700 in Quintain Estates
(#618.56 + #96 additional investment = #714.56).

403 shares in Quintain estates were bought at a price of 169p
(cost #699.48).

A stop loss of 130p was proposed with a target review date of
01/01. Owner Neil (NH).

Estimated Amount Available at next meeting:

Amount Available for
Investment This Month : #714.56
Less
Quintain Estates : - #699.48

Plus
Monthly Sub : + #290.00

: #305.08

Formalised Proposal Form

Graham was thanked for providing a suggested proposal form. It
was felt that although it contained a lot of useful information,
the amount of such information may put people off putting forward
proposals. It was agreed that the present process should
continue but that proposers should consider the form as a guide
for useful information to obtain on prospective stocks.

Presentation of Current Portfolio prior to meeting

It was agreed that the 'owner' of a stock should provide a brief
report to the Secretary in response to the request for monthly
proposals. Each report could then be distributed along with any
new proposals prior to the monthly meeting.

The information should be brief but incorporate current price,
any recent price trends, any new info/results, proposed change to
targets/stop loss etc.

Proshare Competition

It was agreed to nominate Atlantic Caspian each month on a
rolling basis until further notice.

Penny Share Focus

Richard advised he had cancelled the Penny Share Focus standing
order due to full price cost. All were actioned to keep an eye
out for reduced subscription deals available.

AOB

Richard will be on holiday next meeting - 2/8/00 (Neil to
deputise).

Paul asked that all memebers advise change of email addresses.

Graham and Andy to advise of postal addresses for communications
although internet will also be used.

Richard canvassed ideas on an internal fantasy share league. One
idea proposed is to set up 12 separate portfolio's on our iii web
site and competition to run from 6/9/00 to 4/9/01. Hon. Chairman
is happy to set things up on the web site and provide a monthly
league table. It was agreed to consider proposals for agreement
at next meeeting.

The meeeting thanked Graham for his service as Hon. secretary and
for the drinks!

Next Meeting:

The next normal monthly meeting has been arranged for Wednesday
2nd August 2000 12:30 pm in Moseley's Arms function room.