Ann: Response to ASX Query - Appendix 5B , page-15

I spoke to Mark Lynch, maybe 6 months ago, not sure. Nice guy to talk to but he did not convince me. Sold my holdings within a few days.

One reason was the negative vibe shareholders have put on the CTO threads for a long time.

There is perhaps one way to make money out of CTO and that is if all those just constantly complaining and taking no action sold out, the sp would go down and then you can buy in at 2 cents or so. At least you would have made 8 cents a share better than holding and complaining.

Chinese participation is no guarantee of success. Chinese bought out shareholders of AII at 70 odd cents. The shares are now around 12 cents.