Credit Overview - Sample Top Executive Summary Credit Category: Red Credit Limit: 0 Top Header Information Date Delivered: 13/09/2004 Report Name: Credit Overview Time Delivered: 15:45:21 Report Version: 1.2 Account Number: 10501 Report Currency: GBP Top Statutory Information Company Name: BRITISH ENERGY PLC Company Number: SC162273 Date of Incorporation: 13/12/1995 Company Type: PLC Latest Accounts to: 31/03/2003 Accounts Type: Group Accounts Latest Return to: 13/12/2003 Legal Status: N/A Registered Office: 3 REDWOOD CRESCENT PEEL PARK EAST KILBRIDE G74 5PR Post Code: G74 5PR Business Address: 14-16 Cockspur St LONDON London SW1Y 5BL Business Phone No: 020 7389 3408 Fax Number: Business Activities: The generation and sale of electricity. SIC Codes: 7415 HOLDING COMPANIES INCLUDING HEAD OFFICES US SIC Codes: 4911 ELECTRIC SERVICES 4931 ELECTRIC AND OTHER SERVICES COMBINED 4910 ELECTRIC SERVICES 4939 COMBINATION UTILITIES NEC Company Registered Office Activity: 11/01/1999 Annual Return Made Up Date 11/01/1999 SIC Codes 11/06/1999 Accounts Made Up Date 07/01/2000 Annual Return Made Up Date 07/01/2000 SIC Codes 01/09/2000 Accounts Made Up Date 21/12/2000 Registered Address Change 26/01/2001 Annual Return Made Up Date 26/01/2001 SIC Codes 26/07/2001 Accounts Made Up Date 21/12/2001 Accounts Made Up Date 21/12/2001 Annual Return Made Up Date 21/12/2001 SIC Codes 07/09/2002 Accounts Made Up Date 07/01/2003 Annual Return Made Up Date 07/01/2003 Annual Return Made Up Date 07/01/2003 SIC Codes 20/10/2003 Accounts Made Up Date 23/01/2004 Annual Return Made Up Date 23/01/2004 SIC Codes Previous Names: N/A Top Profit and Loss Extracts

Account Type:	Group Accounts
Scale:	Millions
Profit & Loss Extracts
No. of Months:	12	12	12	12
Period Ending:	31/03/2003	31/03/2002	31/03/2001	31/03/2000
Consolidated:	Yes	Yes	N/S	N/S
Turnover:	1,903.00	2,049.00	2,124.00	2,092.00
Profit Before Tax:	-4,292.00	-493.00	57.00	225.00

Top	Balance Sheets Extracts

No. of Months:	12	12	12	12
Period Ending:	31/03/2003	31/03/2002	31/03/2001	31/03/2000
Trade Debtors:	226.00	294.00	239.00	214.00
Cash & Equivalent:	87.00	N/K	N/K	N/K
Total Current Assets:	1,358.00	1,866.00	1,539.00	1,431.00
Trade Creditors:	198.00	285.00	112.00	222.00
Overdrafts:	0.00	N/K	N/K	N/K
ShortTerm Loans:	152.00	N/K	0.00	565.00
Total Current Liabilities:	1185	975	685	1358
Total L.T. Liabilities:	4,375.00	5,217.00	4,931.00	4,380.00
Shareholders Funds:	-3,383.00	583.00	1,168.00	1,313.00
Stock:	360.00	514.00	560.00	587.00

Top	Ratio Analysis

Figures Stated in:	Millions
Key Ratios
No. of Months:	12	12	12	12
Period Ending:	31/03/2003	31/03/2002	31/03/2001	31/03/2000
Profit Margin:	-225.54	-24.06	2.68	10.76
Profit/Capital Employed:	126.87	-84.56	4.88	17.14
Profit/Assets:	-197.15	-7.28	0.84	3.19
Current Debt:	-0.35	1.67	0.59	1.03
Total Debt:	-1.64	10.62	4.81	4.37
Long Term Debt:	4.41	0.90	0.81	0.77
Current Ratio:	1.15	1.91	2.25	1.05
Liquidity Ratio:	0.84	1.39	1.43	0.62
Stock/Turnover:	5.29	3.99	3.79	3.56
Collection Period:	43.35	52.37	41.07	37.34
Creditor Days:	37.98	50.77	19.25	38.73
Gearing (%):	-23.53	0.00	0.00	74.11
Interest Coverage:	N/K	N/K	1.02	N/K
Credit Gearing:	N/K	N/K	1.71	1.52
Indicator Ratio:	N/K	N/K	11.30	11.47

Top	Industry Comparison

Industry Type:	88	Utilities
No. of companies:	2,318
Last updated:	01/09/2004

Industry Comparison/Average	Latest	Previous	Previous	Previous
Scale:	M	M	M	M
Turnover:	160.18	158.92	149.23	156.63
Profit Before Tax:	-13.73	-0.40	45.91	15.53
Debtors:	20.13	15.26	13.75	14.56
Total Assets:	295.00	329.46	324.82	354.58
Shareholders Funds:	27.69	54.03	78.30	96.90
Profit Margin (%):	-8.57	-0.25	30.76	9.92
Liquidity Ratio:	0.87	0.94	0.94	1.03
Collection Period:	45.87	35.05	33.63	33.93
Stock/Turnover:	42.38	35.08	27.89	25.64
Creditors Days:	29.10	33.05	32.87	33.21
Solvency Ratio (%):	9.39	16.40	24.11	27.33
Gearing (%):	619.75	340.55	211.63	179.51

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Auditors

Auditors are:	PricewaterhouseCoopers LLP
Auditors Comment on the latest Balance Sheet:
The Auditors note that the going concern basis may be inappropriate.

Top	Report of Company Directors

Co Secretary:	ROBERT MALCOLM ARMOUR
Nationality:	BRITISH	Date Appointed:	13/12/1995
Home Address:		Date of Birth:	25/09/1959
88 RAVELSTON DYKES		Occupation:
EDINBURGH
EH12 6HE		Co Sec & Director:	N
		Other Directorships:	Y
DIRECTORS DETAILS
Director:	IAN HARLEY
Nationality:	BRITISH	Date Appointed:	01/06/2002
Home Address:		Date of Birth:	30/04/1950
28 KINGSWOOD WAY		Occupation:
SELSDON		NON EXECUTIVE DIRECTOR
SOUTH CROYDON
SURREY CR2 8QP		Other Directorships:	Y
Director:	SALVATORE MARTIN GATTO
Nationality:	BRITISH	Date Appointed:	08/12/2003
Home Address:		Date of Birth:	09/05/1950
11 CAVENDISH LODGE		Occupation:
CAVENDISH ROAD		ACCOUNTANT
BATH
AVON BA1 2UD		Other Directorships:	Y
Director:	CLARE MARY JOAN SPOTTISWOODE
Nationality:	BRITISH	Date Appointed:	01/12/2001
Home Address:		Date of Birth:	20/03/1953
39 LONSDALE SQUARE		Occupation:
		DIRECTOR
LONDON
N1 1EW		Other Directorships:	Y
Director:	ADRIAN ALASTAIR MONTAGUE
Nationality:	BRITISH	Date Appointed:	02/12/2002
Home Address:		Date of Birth:	28/02/1948
PEGSDON BARNS		Occupation:
PEGSDON		DIRECTOR
HITCHIN
HERTFORDSHIRE SG5 3JZ		Other Directorships:	Y
Director:	MIKE ALEXANDER
Nationality:	BRITISH	Date Appointed:	03/03/2003
Home Address:		Date of Birth:	17/11/1947
8 BEARSWOOD END		Occupation:
BEACONSFIELD		CHIEF EXECUTIVE
BUCKINGHAMSHIRE
		Other Directorships:	Y
Director:	PASCAL COLOMBANI
Nationality:	FRENCH	Date Appointed:	01/06/2003
Home Address:		Date of Birth:	14/10/1945
3 RUE DE LOGELBACH		Occupation:
		DIRECTOR
PARIS
75017		Other Directorships:	N
Director:	WILLIAM A COLEY
Nationality:	AMERICAN	Date Appointed:	01/06/2003
Home Address:		Date of Birth:	24/04/1943
1231 WAREHAM COURT		Occupation:
		DIRECTOR
CHARLOTTE
NORTH CAROLINA 28207		Other Directorships:	N
Director:	ROBERT WALMSLEY
Nationality:	BRITISH	Date Appointed:	01/08/2003
Home Address:		Date of Birth:	01/02/1941
41 BELTRAN ROAD		Occupation:
		NON-EXECUTIVE DIRECTOR
LONDON
SW6 3AL		Other Directorships:	Y
Director:	JOHN J DELUCCA
Nationality:	AMERICAN	Date Appointed:	09/02/2004
Home Address:		Date of Birth:	25/04/1943
314 ARDMORE ROAD		Occupation:
		COMPANY DIRECTOR
HO-HO-KUS
NEW JERSEY 07423		Other Directorships:	N

Top	Gazette or Detrimental Information

No Gazette Information

Top	Credit Risk Information

CCJ's Registered

Information concerning County Court Judgements is provided in good faith; however we do not accept responsibility for the accuracy thereof

Exact Matches
Court	Date	Amount of Judgement		Status	Date Settled
BRADFORD	06/09/2000	751		Judgement
Case No. BD006896
HAMILTON	05/10/2001	1,299		Judgement
Case No. SC631/01
STAINES	08/11/2002	275		Judgement
Case No. JF237973
TUNBRIDGE WELLS	18/12/2002	109		Judgement
Case No. JL226340
NORWICH	28/08/2003	235		Judgement
Case No. NR305680

Gazette Information
No Gazette Information
Payment Profiles
Creditor Days
Sector Average:	29.10 Days
BRITISH ENERGY PLC:	37.98 Days
Liquidity Ratio
Sector Average:	0.87
BRITISH ENERGY PLC:	0.84
Vital Signs
Turnover decreased by:	7.1%
Pre Tax Profit decreased by:	770.6%
Gearing increased by:	0.0%
Working Capital decreased by:	80.6%
Credit Score:	15
Credit Rating:	I
Credit Category:	Red
Credit Limit:	0
Credit Score Date:	13/09/2004

Credit Rating Guidance
Credit Score Range: 0 (Poor) to 100 (Excellent)
Credit Rating Codes: A=Excellent, B=Very Good, C=Above Average, D=Average, E=Poor, F=Very Poor, G=Serious Gazette code present, I=Technically insolvent, O=Late filing of accounts, N=Dormant accounts filed, NA=No accounts filed yet, NR=No Report, NT=Does not trade

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Top	Analyst Summary

The latest year accounting figures in this report have been rounded to thenearest thousand (000). The Company's latest filed accounts are for the year ended 31/03/2003. On the basis of these accounts: We suggest that you seek suitable assurances from the Directors. For contracts, we suggest obtaining performance/indemnity bonding. For credit insurance purposes the credit limit is nil.