Ann: Appendix 3B, page-30

My view is that these options have been allocated to lower rung employees { and consultants who can bring business to us - remember the Chairman mentioned that in China to do business, you need to have connections and these connections will need to be rewarded to bring repeat or more business } and not the directors or management. In this case, they don't need to disclose anything and will not require any form of approval. Then $1.35 is a fair price for option as these employees need to be rewarded and motivated.

If these are allocated to any director then we will know soon enough as they have to lodge change of interest in next few days.