contact asic, page-4

Dear All,

I contacted TFS last night and received the following correspondence immediately this morning:

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"Your query has come through to me as I handle Investor Relations at TFS.

TFS has fully informed the market. I refer you to announcements to the market on the 3rd January, 28th December and 23rd December for recent disclosures.

It appears the market has reacted negatively to the 3rd January disclosure, which TFS believes is an overreaction. It also appears to have ignored the other disclosures that are quite positive for TFS.

TFS remains confident that this is a short-term issue that will be navigated successfully.

TFS is also confident that as TFS achieves its long-term goals the market will reward shareholders for their patience.

Should you have any further questions, please do not hesitate to contact myself via email or phone."

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I for one am satisfied with such prompt, direct communication from a representative of TFS (GM - Corp Strategy). It is unusual to receive such a clear message to a shareholder outside of official announcements in this era of paranoid corporate govenance.

Keep the faith, the potential upside from this share price level is substantial in the short term and long term.

Good luck all...

Woodsman