in the weekend australian, page-13

Dear BWN Watchers,

Everyone is entitled to their opinions but in my view this is a great deal for Bowen shareholders, and it deserves strong shareholder support.

Some of you have made the point about dilution and others have mentioned that Bhushan will gain control of Bowen- my point is, so?

Few companies with BWN's market cap would be able to raise $32 million on market to fund exploration drilling in the current market climate, with getting screwed. Bowen have successfully raised this money at a premium to the current share price, and since Bhushan will not be a seller of their stock, the real dilutionary impact is minimal. Bowen remains a tightly held stock and both traders and investors have reasons to like that.

Bowen will have sufficient funds to drill its coal projects through to pre-feasibility, and these coal projects could be mining and generating income for Bowen within two to three years. That seems like a pretty good return on investment for Bowen, considering Bowen will be free carried through to production, and will retain a strong income stream from mining for the life of the project.

Bowen retains 100% ownership of five other coal projects in the Bowen Basin, that are outside the scope of this Subscription Agreement and not covered by JV with Bhushan.

Before HC subscribers make cheap shots about Director's buying bigger houses, or make crass generalisations about "Indian's never wanting to pay full price for anything", I would ask you all to consider this deal on its merits and recognise the benefits it provides to all Bowen shareholders.

Within two to three years, Bowen shareholders will own at least one major coal mining operation, and retain substantial interests in several more, with the potential to generate significant amounts of cash for Bowen over decades.

As always, I urge you to do your own research.

Tony Dawe