Ann: Annual Report to shareholders, page-23

Good afternoon guys,

I noticed the rent situation being brought up again. We have addressed this on a number of occasions and for any newcomers, to the group, I am happy to explain again.

The increase in rent is for a new property, not the same property.

Previous address: 67 Penkivil Street.BONDI
Current address: 24 Birriga Road, BELLEVUE HILL

As noted in my previous posts, I have visited QBL's offices on two occasions.
The property, even though in the appearance of a house, is almost all dedicated to office use. The large living room / dining area has a boardroom size table for meetings. The rooms on the top floor are utilized as separate offices. I met Sholom and Pnina in the 1st office which is also used by Dr. Robert Coeenraads. On both occasions, that I was invited to visit, there were no fewer than 10 people in the property working.

This building is close to the CBD and the airport and is presented well for visiting CEO's/ management and is well suited to conduct the business affairs of the company in a comfortable and relaxed environment. The ideal place for the signing of deals. My second visit, earlier in the year, was at the board table talking with a few of the management about issues being raised by shareholders, and media issues. Those were all addressed to my satisfaction.

Thanks,

Neil1959
QBL HC rep
QUEENSLAND BAUXITE LIMITED
(soon to be renamed CANN GLOBAL LTD)