Following the announcement in October about the appointment of member-nominated Trustee Directors, the selection process is now underway.

Nominations were invited from all active members and pensioners. The Trustee has agreed a new selection process to appoint the three new member-nominated Directors to the Trustee Board.

The response from the membership has overwhelmingly positive with fourteen applications, including the three current incumbents. The applications are relatively proportionate from current active members of the Plan and pensioners. Some applicants are experienced in running pension schemes and others have significant company service.

The ICL Pension Members Committee (IPMC) now has the difficult job of deciding who the new member-nominated Trustee Directors will be. They will short-list the applicants according to suitability and may wish to interview the final short-list in order to make their final decision. The announcement regarding the successful applicants is expected in early 2008.

Those who become member-nominated Trustee Directors will have responsibility to look after the interests of active, deferred and pensioner members of the plan equally and to ensure the Plan benefits are paid in accordance with the Trust Deed and Rules.

Paula Evans - Pensions Manager