Ann: Appendix 4C - quarterly , page-10

Re: the $94m - yes, indeed...and its not like they have been burning through it at a rate of knots - PXS has always - and continues to - been VERY responsible with its cash management.

I respect Lopez right to not like the stock (and stock for that matter) or not like the fundamentals of PXS - I have no issue with that at all.

However, I honestly don't understand the constant disparagement based on the same accusations that (with all due respect) are just an opinion that is not actually substantiated with any track record of failure by PXS.

It isn't as if the PXS thread is constantly attracting an array of new investors who need to be shielded from a ravenous group of outrageous rampers, either. For we are certainly not that and no-one posting here - to my knowledege - has ever been guilty of trying to influence the gullible.

I do think it is time to move on...I mean, we remain in the midst of a horrible BEAR market - the worst in many, many decades - yet PXS (after its initial fall in the first half of 2008) is hardly in the same league as the AFG, ABS, BNB, CNP, MFS, AHUG, RAT, REU, RJT, BBI, OZLs of this world.

PXS are actually travelling along quite well and that means that - in the fullness of time - the share price will reflect that success.

Regards

Coop