AGM Date & Time, page-2

Hi Beal - Thursday the 27th of November at 10.30am and is held at the usual location being the Boulevard Centre 99 The Boulevard in Floreat......are you going as I will be there.

Guys there seems to be a bit of frustration creeping in here of late. Z to very honest I think your biggest problem is going to be working out exactly when to sell.....I only say that because I suspect the first deal may be from the Novadel pipeline and once that is done it will be possible to get a handle on how much worth is sitting in the back room awaiting commercialisation. Also much will depend on the structure of the deal and exactly what the Board do with any cash payments. A tasty dividend could see many holding, many will sell enough to get their capital back and free carry the rest, who knows.

The one thing I can say with absolute certainty is that the deals they are negotiating are complex and will take time, if they where to miss the Christmas deadline I would not see that as a broken promise but merely a fact that complex commercial deals can take time.

Clyde