Update on 2009 Pay Talks

To advise that following a further meeting with the Company today in relation to the pay talks for 2009, we can advise that the Company have presented a revised offer and this set out as below Also to advise that it was raised with the Company if there will be any increases on London Allowances and the Company responded that there will be No increases on London Allowances. They also advised us that due to the issues that all the Trade Unions were not interested in entering a Long term Deal on Pay this Year, they have put an offer for a 2 Year Offer because of this..... 2 Year Offer 1.25% For 2009 RPI + a Quarter % or 1% what ever the Greater is for 2010 We have said to the Company which was based on Agreement by all the 4 Trade Unions that we would only be interested in a 1 Year Deal, and would wish for the Company to improve their offer based on a 1 Year Deal only. The Next Meeting has been arranged for the 20th October 2009. We will advise you on further developments on this issue.