Ann: Appointment of New CEO and Managing Director, page-11

re: Ann: Appointment of New CEO and Managing ... I think it is an amazing news for EGL to have Peter Cockcroft joining their group. I am sure he will not have left a confortable position at Blue if he did not have full insurance that the debt issue was getting resolved and had full confidence JV partners and fresh money could be found to develop the large projects EGL has in France.

I don't think Peter Cockcroft would be the individual behind the loan otherwise he would have been obliged to disclose his options I would guess.

What would be interesting to know is his remuneration package since I believe the exercice price of his options will give us an indication of his level of confidence in the company future success.

I am a bit disapointed EGL did not disclose the remuneration package of Peter Cockcroft but I guess we will see it in the annual report that shall be published in the next 2 months or so.

I think the company seems to finally be on the right track, with a much better team capable of developing a very exciting portfolio of assets in Western Europe.

I feel EGL needs a positive news on the debt to be rerated and see this stock trading again at much higher levels, more in line with the other companies operating in the same space in Europe and elsewhere.

Bartom