Ann: Letter to Shareholders - Investor Informatio, page-42

re: Ann: Letter to Shareholders - Investor In... David ob - I think I am a bit maverick - I would sell if that person had wanted to buy them as they are worth something to them. It would have meant they wanted to make a profit even on the spp. I would have exited and waited for more information I would still have had very small holdings so if another rights issue came about I would have that opportunity to decide to participate again. It was an interesting exercise as the price would be cheaper than the SPP and I am aware they intend taking up their rights. It gave me an insight as to how emotionally attached they may or may not be to the company. What it told me is that they see it as critical that the money goes to the company to pay to stay alive and that 15% discount was not the issue but getting and keeping the company alive.That is a very good motive and I applaud it.

Albie - I am looking at a few of your other shares and like those - Not sure I dislike this one either but too much water under the bridge for me. If I was looking at this with new eyes I can see that I may well be able to see value - just not at this price after so much has occurred.