letters of demand sent to opes clinets, page-38

Comment ...This is the Notice from the recievers ..i was previously referring to...date May 1

I think Delloites need to look very carefully at themselves..as this advice ...was given...only 60 notices of default were issued by clients to Opes..presumably before this went out

60 out of 900 clients..

Dates at odds

On May 1, however, the receiver sent out a circular to Opes Prime clients advising them the default event occurred on March 27.

"The following key assumptions have been made in calculating your account balance:

1. The appointment of Administrators at approximately 4.30pm on 27th March 2008 triggered an Event of Default under the

Terms;

2. Following the occurrence of an Event of Default the Terms impose a requirement to set-off obligations between both parties;

3. This set-off will create a net balance either payable to you or payable by you to OPSB;

4. Your net account balance is calculated as at the 27th March 2008 including:

a. Loan balance as at 27th March 2008 including interest accrued to 27th March 2008;

b. Cash balance as at 27th March 2008;

c. Market value of shares as at close of business on 31st March 2008, being the second business day after the Event of

Default; and

d. Dividends where the normal entitlement criteria have been met and the record date for payment of the dividend was

before 28th March 2008.

If your net account balance is in deficit you are a debtor of OPSB. This amount is due and payable immediately by:

* cheque made payable to Opes Prime Stockbroking Ltd. (Receivers and Managers appointed) (Administrators appointed); or

* direct debit to

Opes Prime Stockbroking Ltd. (Receivers and Managers