Ann: Half Year Report and Accounts , page-5

TTH

thanks for the reply, to be quite frank I take the PLT revenue forecast with a grain of salt. As a comparison I think that GBI's 1st year full revenue on PapType will be in the vicinity of $5 to $8m. PLT board and management are yet to deliver on any of their promises and hence I think one needs to be a little skeptical regardless of all the promise 'in theory'.

The SP is telling me this morning that punters are getting out of the Ordinaries positioning themselves for a pending C-Note issue. It would be extroadinary if this were able to be completed on better terms than the Dec 2007 issue.

If you recall these C-Notes are convertible "at any time" at 7c and hold a fixed and floating charge over all the assets and future assets.

This wouldn't make an offer of Ordinary shares at 11c overly attractive to me.

As stated I hold no PLT but have a large interest in GBI and will be discounting heavily (infact zero weighting) any revenue coming to GBI out of this partnership as I imagine 100% of all available resources for PLT will need to go into Truscreen.

The question will hence be can PLT get access to enough capital to get Truscreen up. Redfaces clearly spells out (via his experience in BZI) the issues around pioneering a market with a new technology approach. I too have lost money in 2 similar situations myself.

The potential value of the PLT cake is also getting heavily diluted. My guess (assuming that $2.3m is raised from the SPP and this may be very optimistic and say $3m is done via a C-Note) there'll be about 325m pieces of paper out there excluding options). That's a $50m market cap at 15c still with a situation where the company is by no means fully funded.

Best of luck to all but I still say Caveat Emptor.