does anyone know anything, page-29

Extract from 2nd Administrators Report
Further, we received three (3) final offers for the recapitalisation of NFL entailing DOCA proposals. The Administrators have conducted an assessment of the DOCA proposals put forward and recommend that creditors accept the DOCA proposal put forward by NRG Capital Pty Ltd (“NRG”) for the following key reasons:
1. Under the NRG proposal, unsecured creditors of NFL are expected to receive a dividend of approximately 0.2 cents in the dollar in respect of their debts owing as at 9 April 2009. This anticipated return is greater than in a liquidation scenario where the estimated dividend is Nil cents in the dollar to unsecured creditors. The acceptance of this proposal will also satisfy priority creditors in full, compared to the liquidation scenario of which it is anticipated that priority creditors will receive a dividend of 65 cents in the dollar.
2. It offers lower completion risks compared to the other DOCA proposals received.
We note that Cygnet proposal provides for a greater cash consideration, however, NRG comes with lower completion risk in relation to the shareholder resolution. The DOCA proposals are discussed in greater detail in section 9 of this report. The reconvened second meeting of creditors of NFL will be held on Tuesday, 20 October 2009 at the offices of Ferrier Hodgson, Level 26, BankWest Tower, 108 St George’s Terrace, Perth WA at 2.30 pm Western Standard time. At the reconvened second meeting, the following options are available to creditors regarding NFL’s future:
• That the administration should end and control of the Company revert to its Directors;
• That the Company execute a DOCA; or
• That the Company should be wound up.

Jeff