Ann: Appendix 4D & Half Year Report, page-15

My understanding of the Options offer is that, especially in the current financial climate, not all shareholders will be able to afford to participate in the Rights Issue.

So as a separate offer, in recognition of their support, the Company provides all shareholders with an option to part pay for some shares now then save and pay the remaining outstanding amount in possibly two years time when they can afford to pay, albeit, at a higher price than the rights issue, but at a price considered less than the expected market price at that time.

Everyone then has the option to participate in some way.