NNAAARRGGGHHH!!! (broken bottle cage bolt...)

Similar to that stated above, use a small quality drill bit and drill carefully at low speed through the MIDDLE of the seized bolt after securing the frame. Squirt some WD40 in and the leave for a while. Then drill a larger hole with a drill bit a tad smaller than the outer diameter of the hole using the small predrilled hole as a guide. When you have drilled out most of the seized bolt stick a small screwdriver in, tap gently with a hammer and the old bolt remnants should either screw through or break off in bits. A quick retap/clean up of the threads with a kit from B & Q might be needed but I doubt it.
 
Score a slot into the remnants of the screw with a cente punch and use a small good quality flat blade screwdriver to extract.
 

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