One of approximately 60 (update: there were likely closer to 25 Series III bike) Series III bikes made by Joe Breeze.  Great nickel plated fillet brazed frames which still used the horizontal Campagnolo drop outs.  The clamp on stem is attached to a brazed on stub in the steerer tube.  This stub has a Swiss coin brazed to the top of it and then plated.  The Breezer Series I bikes are generally acknowledged as the first purpose built mountain bikes.  There were 10 Series I bikes produced. The Breezer Series II bikes were a refinement of the Series I bikes and 25 of those were produced.  A hundred Breezer Series III bikes were scheduled but only about 60 (update: closer to 25 Series III bikes) were produced for a total production run of about 95 (update: total production was closer to 60) hand built Breezer bikes.  This bike, serial number 49, is currently the highest serial numbered bike documented making it one of the last, if not the last, Joe Breezer built bikes.  Production was later moved overseas for a run of bikes in the 1990's.  In my opinion, the first Breezers are among the most "collectible" mountain bikes produced.