Ann: Change of Director's Interest Notice - D Veitch, page-25

Well the fact that the Substantial Holders don't have to lodge a Form 604, due to the fact that SMN is a foreign company, is a concern. The only way of finding out if the Sub Holders have been selling is to put pressure on SMN (ie Sam Wright) to update the Top 20 or to do a search of the registry. I have done both back in December and am just about to repeat the exercise. SMN have the info readily at hand, but for whatever reason they prefer to keep us in the dark about these Sub Holders. This coupled with the fact that the 3Y lodged today fails to disclose David Veitch's indirect interest in AED is a further indication they do not want the market to know what AED's current shareholding was at the time. Not very transparent if you ask me and if the announcement we have been waiting for is not what we were expecting heads will roll.