jh and cs, page-3

Well I can asure you alphasigma that I feel very let down after being such a strong supporter for WC and JH in days gone by. No so much for the fact that we did not receive anticipated distributions due to the financial meltdown, but for the lack of information and transparency we were promised. Questions were invited on the investor April 1 update posted on the NSX and newpiff website. I am still waiting for answers from questions raised in early March. We have no update regarding the $55mill owed by Raptis, no information in relation to the $21.5mill loan to Causeway who on lent the money to Resolute Capital which JH accepted a refinance proposal of $14.7mill due to be paid by 31July 2008 which still has not been paid to my knowledge and the borrower(Resolute Capital) is in administration according to a report by Grant Thornton.(http://www.grantthornton.com.au/files/439a_creditors_report_pdf.pdf) Information as to where we stand as an unsecured creditor to OCV has not been clarified after all the kerfuffle with Fortress etc. No update more than 5 weeks on from the big marketing campaign of 11 properties we are mortgage in possession of and no reference to the pending class action and possible impact if any on the PIF. Nope, nothing at all for the majority of investors who 'felt very reassured and had great confidence in Ms Hutson'. A very dissillusioned Seamisty