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Thanks for the heads up, just removed the grub screw and on inspection it looks like a stainless steel one and was well greased... Do you know if this is a Carbone 9? I read the name relates to the number of carbon tubes used in construction, so in my case this frame would be a Carbone 7? Perhaps this originally came with carbon forks which counted as the extra 2 tubes on top of the top tube, seat tube, down tube, plus chain and seat stays? Any thoughts?
If it hasn't been done already, replace the steel grub screw with a stainless steel one (a few quid in your local hardware store). Original screws had a very bad habit of bonding into the frame, meaning a mess with a drill and retapping disasters, which often go fatally wrong!