Ann: Chairman's Address to AGM , page-6

Hello All,

I was fortunate to attend this mornings meeting and found it interesting. Jamie presented well, obviously a highly intelligent individual and he gave a very thorough analysis of the businesses' strengths, accomplishments, challenges, disappointments and future growth prospects.

There seem to be huge markets still to access in Australia and Indonesia and further down the track broader Asia, South America and Africa. REL seems destined to become a global mining services company over time with a strong footprint in many continents.

It was reiterated at the meeting that REL is unique internationally in the specialised services they offer.

When it came to questions I asked Jamie how things were going in Indonesia and he left the answer to Anthony Ryder who said they were currently quoting on around $3-4 million of work. When asked afterwards what potentially could be the size of the Indonesian market Anthony replied that over 5-6 years we could be looking at $50-60 million in revenue although there were numerous hurdles and complications to doing business in Indonesia. Still, this is very exciting and sets up REL for years of growth and that is just Indonesia. Mine sites across Asia, South America and Africa are all long term goals so decades worth of growth opportunities to come.

I also got the impression that the board were very keen on paying dividends and that we'll see a 1c interim and 2c final dividend this year. That is only my impression, no figures were quoted at the meeting.