Company Balance Sheet

at 31 December 2004

			Rm
	Notes	At 31 December 2004	At 31 December 2003 (Restated)*
Fixed assets
Investments
Shares in Group undertakings	40	7,930	8,618
Loans due from Group undertakings	40	24,843	24,041
Shares in associated companies		174	179
Shares and other variable yield securities		488	275
Deposits with credit institutions		1,465	537
		34,900	33,650
Current assets
Debtors
Other debtors		22	–
Amounts owed by Group undertakings		11	60
Other prepayments and accrued income		43	48
Cash at bank and in hand		119	143
		195	251
Creditors: amounts falling due within one year
Amounts owed to credit institutions	34	54	334
Amounts owed to Group undertakings		14,450	13,954
Other creditors including tax and social security		293	621
Accruals and deferred income		111	131
Dividends payable	4	607	585
		15,515	15,625
Net current liabilities		15,320	15,374
Total assets less current liabilities		19,580	18,276
Creditors: amounts falling due after one year
Amounts owed to credit institutions	34	4,360	3,522
Provisions for liabilities and charges	32(b)	228	310
Net assets		14,992	14,444
Capital and reserves
Called up share capital	27	4,187	4,584
Share premium account	27	6,509	7,007
Profit and loss account	28	4,296	2,853
Equity shareholders’ funds		14,992	14,444

* Comparative figures have been restated to reflect the adoption of Urgent Issues Taskforce Abstract 38 “Accounting for ESOP Trusts” as described in note 1.

These financial statements have been approved by the Board and signed on its behalf by:

Julian V F Roberts
Group Finance Director
28 February 2005