Ann: October Operational Update, page-101

Hi Guys here is the reoly in full. Make what you will of it. Cheers

Dear Rajen,

Your comments are out of line on this point " I have never come across an AGM report so notable for its brevity and lack of effort, or pride in the company's achievements. ". The AGM is not an Annual Report, although question if raised are brought forward from the Annual Report as it is tabled at the AGM, with only AGM results posted unless an undertaking is a part of the resolution/s.

A General Meeting is to ratify or pass resolutions, it is based on reporting completed for the period which the Annual Report was presented. The AGM in itself had only a single shareholder in attendance and was held functionally and concluded in 10mins with only 3 resolutions. There was no formal address or any questions asked. I will be posting the Chairman's scripting once it is transcribed.

I am unsure of what "incursion" into NSW you speak of, LPE have been selling into NSW for well over 12months we have always stated that we are working on growth into the market and have been doing so in an ongoing manner. When we speak of new volume monthly it represents 12-17 new communities each month we cannot realistically report on every one individually.

We have recently released the October Operational update, which has a lot of context around performance and the Annual Report has got a lot of relevant information in regards to LPEs performance for the year. We are required to post the AGM results, which is the same as AGM results posted by every listed company, none post additional information other than if a Chairman or CEO does a formal address to the attendees, or a resolution requires an undertaking.

Thank you for your support