MCEV earnings per ordinary share

For the half year ended 30 June 2010

1 Based on 132 million shares (full year 2009: 92 million) as set out in note 5 of the IFRS condensed consolidated interim financial statements
2 Based on 132 million shares (full year 2009: 105 million), allowing for warrants in issue as set out in note 5 of the IFRS condensed consolidated interim financial statements

The earnings on covered business are calculated on a post-tax basis and are grossed up at the effective rate of shareholder tax for presentation in the income statement. The tax rate used is the UK corporate tax rate of 28 percent.