Combined Code Statement

The ENRC Board takes its responsibility under the Combined Code on Corporate Governance, as published in June 2008 (the ‘Code’), very seriously, recognising that the Board sets the values and standards that are used to guide the affairs of the Company.

The Board considers that, during the 2010 financial year, it complied with the Code in all respects with the exception of the decision not to use an external agency when appointing Professor Dr Dieter Ameling.

More information is available on page 65 of the 2010 Annual Report.

For 2011, ENRC is seeking to act in accordance with the principles of the UK Corporate Governance Code issued by the Financial Reporting Council in June 2010.