Ann: Bid for MAK - Substantial Holder Notice from, page-6

re: Ann: Bid for MAK - Substantial Holder Not... I think you are missing the point. Somehow the ownnership issue has to be resolved to a single entity along with NMP running the Sandpiper project. MAK heve fired two broadsides at their partners and missed by miles! MAK has managed to pxxs off both their partners and us, their shareholders. They DID NOT add shareholder value by their actions. This has led to both MAK and UCL sp at ridicoulous lows. No one is winning. We, the shareholders, are all loosing. We will continue to do so until someone can take control. I am of the opinion that the MAK Board do not have the qualities required to achieve this. Someone has to take charge of the project and get rid of all this uncertainty. Uncertainty kills investment. That is our investment. We keep seeing our investment drop to record lows.

If we can help get this resolved, I believe, all MAK and UCL shareholders should see their investments rise in value. Frankly I don't care what name the entity has but it is clear that a joint MAK and UCL team cannot lead it. In my opinion the MAK board has failed us. I will take any increased offer from UCL. UCL has clearly demonstarted their ability to raise capital well above the sp. Holding out to see our value continue to drop is stupidity. If enough shareholders change, then I am of the opinion that OUR investment has a chance to grow. What a nice change!

Disclosure - shares held in both MAK and UCL