Ann: Change to Director's Interests (Appendix 3Y), page-13

Farmerpaul is not far off when he says fresh lows. The question is how much lower can it go? 10cents was heavily discounted about a year ago, I think fair value is 4.5 to 5cents. Two weeks later is when the results are in. If the results are not better than last year, I’m betting they are NOT! I hope I’m wrong!!! Then 5cents is not pessimistic at all. it’s a fact that coz of mro the harvest amount in the whole region is a bit less than last year! All the other farmers are happy except mro. Wonder why? As I stated many times before I’m no Nostradamus but these guys got max 2 years in the asx before they get delisted. National Australia Bank will take control of all the farms and anything of value to get their money back. Firstly Massive pay cut in board members salary is needed. Secondly a farmer from the area needs to be put in charge ( Frank or Tony) majority of Italian farmer names are either Frank or Tony. Mildura is conservative area. Farmers generally stick together. If we can get a grower on our side from the area we might have a chance. Glorified words like ‘exiting or turnaround or it’s all previous management mismanagement’ is not going get results any longer. Thank you!