Ann: Quarterly Report and Appendix 5B for March 2, page-3

re: Ann: Quarterly Report and Appendix 5B for... there is a lot riding on this deal between WISCO and CXM IMO. If the deal is made before 10th May, with CXM receiving agreed funds in the order of $60 million to start with and a further $120 million to come potentially the SP will reflect the confidence that amount of cash brings - meaning no longer in the teens and twenties IMO.

However, if a further delay occurs with the deal i feel that the SP will fall harshly. I think that the steady rise in the SP over the past few weeks from mid teens to low twenties is a result of anticipation of the deal being made.

Hopefully the deal is made, CXM will receive much need cash, (as they have only $10 million on hand) and we can begin producing and see some real moves in the SP.