Ann: Appendix 3B , page-13

Lautrec,
you have mentioned the favourite board member and that he was involved in the financing. Unless you have made certain progress as a company which does not come down to him you can not acquire finance on your terms or on good terms. Esi have continually had to raise money, La Jolla was a last resort, and the only reason they have accepted is because of the terms of the cr, they know if esi don't deliver they can still get out at a small profit. They can't really lose. Esi is running out of time, if we have to wait for vietnam elections to pass we may be finished, and in my book that is simply down to management, for we have the technology IMO.

The lack of updates is a dissapointment, we as shareholders should know what the current state of play is. We were not even informed of tincom's communication with Arup till months down the track! Did esi not know what communications tincom and Arup were having? Were they kept out of the loop?