97KM Relx Fin 27

    Income Partners Asian Collateralized Assets I Limited

         Income Partners Asian Collateralized Assets I Limited

US$54,000,000 Subordinated Secured Notes due 2011 of Income Partners Asian
                    Collateralized Assets I Limited

Notice is hereby given that the holders of the above referenced securities have
passed the following resolution at a meeting of the holders of such securities
held at 3:00 p.m. on Friday May 20, 2005 in the Escudo Room at No. 1 Poultry,
London EC2R 8JR.

BE IT RESOLVED by the holders of the US$54,000,000 Subordinated Secured Notes
due 2011 (the "Holders") of Income Partners Asian Collateralized Assets I
Limited (the "Issuer"), as follows:

I.   The Issuer shall distribute to or upon the order of Bear Stearns Capital
     Markets, Inc. ("BSCM") the sum of US$1,881,654.65, plus interest accrued
     thereon from the date such amount was due to the date such amount is
     actually paid (the "Swap Counterparty Payment Amount"), out of the
     remaining funds and assets of the Issuer that were subject to the security
     granted by the Trust Deed or the proceeds thereof (the "Assets") in
     satisfaction of all amounts requested by BSCM under the terms of that
     certain ISDA Master Agreement, including the Schedule thereto and the
     Confirmation having a Reference Number LE64698.

II.  The Issuer shall pay, from the Assets available following payment of the
     Swap Counterparty Payment Amount, all amounts owed by it, including but not
     limited to amounts owed under the terms of that certain Trust Deed dated 30
     July 1997, among the Issuer, The Law Debenture Trust Corporation p.l.c., as
     trustee (the "Trustee"), Citibank, N.A., as custodian (the "Custodian"),
     and BSCM, as swap counterparty and all related documents.

III. The Issuer shall distribute all remaining Assets, following payment of the
     amounts referenced in I and II above, to the Holders pursuant and in
     accordance with the terms of the Trust Deed and all related documents.

IV.  Following payment and distribution of all of the Assets as described in I,
     II and III above, the Issuer shall promptly wind up its affairs.

V.   The Holders each (for itself and any person or entity claiming through it)
     authorize the Issuer, the Trustee and the Custodian to take such steps and
     do such acts or things as may be necessary or desirable to give effect to I
     to IV above and shall hold those parties harmless for so doing.

VI.  This Resolution shall become effective immediately upon approval by 75 per
     cent of the votes cast by the Holders voting at a meeting duly convened and
     held at which a quorum is present.
*T 

General inquiries regarding this notice may be directed in writing to Guy Major,
Senior Vice President, Maples Finance Limited, P.O. Box 1093GT, Queensgate
House, South Church Street, Grand Cayman, Cayman Islands or by facsimile at +1
345 945 7100.

Dated: __ May 2005         Income Partners Asian Collateralized Assets I Limited

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