Private & Confidential

Caroline Ward
Morgan Stanley
25 Cabot Square
Canary Wharf
London
E14 4QA

27/07/2006

Please find enclosed our fee note 07002379 in respect of professional services, as itemised overleaf.

Invoices are payable within 30 days of the date of issue.

Please can you arrange for payment via BACS transfer to the following account:

The Royal Bank of Scotland plc

Threadneedle Street
London, EC2
United Kingdom

Sort Code: 15-10-00

Account No.: 20328749

Please ensure that the Penna invoice number is quoted as part of the reference for all transfers.

Alternatively a cheque can be sent, together with the advice slip, to our accounts department at:
Penna Plc
3rd Floor
St Mary’s Court
20 St Mary at Hill
London EC3R 8EE

If you have any queries concerning this invoice, please can you e-mail the relevant details to
Invoices@e-penna.com

Penna Plc
Finance Department
St Mary’s Court, 20 St Mary at Hill
London EC3R 8EE, UK
telephone +44(0)20 7648 2427
facsimile +44(0)20 7648 2450
email accounts@e-penna.com
website http://www.e-penna.com

Penna Plc
Registered Number 1918150 England.
Registered office: 3rd Floor, St Mary’s Court
20 St Mary at Hill, London, EC3R 8EE.
VAT Number GB 605 8497 19
Invoice

Morgan Stanley Penna Plc

Finance Department
25 Cabot Square St Mary’s Court, 20 St Mary at Hill
Canary Wharf London EC3R 8EE, UK
telephone +44(0)20 7648 2427
London facsimile +44(0)20 7648 2450
E14 4QA email accounts@e-penna.com
website http://www.e-penna.com

For the attention of: Caroline Ward

Invoice date: 27/07/2006

Payment is due by: 26/08/2006
Invoice Number: 07002379
Client Account: D11058

Project Number: 007911

Project Name: Morgan Stanley, HR Consulting
Project Manager: George Griffin
Purchase Order No:

Description Value
GBP

To: Professional Services

(as itemised overleaf) 2312.50

Total 2312.50
VAT @ 17.50% 404.69
Total due 2717.19

Invoices are payable within 30 days of the date of issue.

Please can you arrange for payment via BACS transfer to the following account:

The Royal Bank of Scotland plc, Threadneedle Street, London, EC2, United Kingdom
Sort Code: 15-10-00 Account No:20328749

Please ensure that the Invoice Number and Client Account is quoted as part of the reference for all payments.

Please note a 3% Late Payment Fee will be charged if payment is not received by the due date.

A Penna Consulting Company. Registered Number 1918150 England. Registered office: 3rd Floor, St Mary’s Court, 20 St Mary at Hill, London, EC3R 8EE.
VAT Number GB 605 8497 19

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Remittance Advice
Please detach this slip and send it with your cheque to: Penna Plc, St Mary’s Court, 20 St Mary at Hill, London, EC3R 8EE. No receipt will be issued unless specifically
requested.

Invoice Number: 07002379 Total due: 2717.19

Client Account: D11058 Invoice date: 27/07/2006

Morgan Stanley