Ann: Change in substantial holding , page-2

Tulla resources group purchased the following last year.

Universal Resources Ltd has placed 33.8 million shares at 65 cents each with New South Wales-based Tulla Resources Group Ltd to raise about $2.2 million

They now have purchased at 19,400,000 million shares in Universal Resources via a conversion of convertible notes

Their investment from initial purchsae is sitting at a loss of over 20 million as we speak.

Wise to invest at such low levels. They would want to recoup that initial investment back.


regards