another takeover offer, page-8

Hi WB,
I did some napkin sums and based on the 70,000 acres we hold (we also hold 60,000 as a JV), but based on the 70,000 at say $6,000 per acre = $420m

Now with 140m shares in the market, that equates to $3.00 per share exactly.

We seem to have similar revenue as AZZ, but the flow rates are different, thats whi have discounted the sale from AZZ's $12,000 per acre to RFE's $6,000 per acre.

Now if you took the best case of $12,000 per acre x 130,000 acres = $1.56B($11.14 PER SHARE)VERY COMPELING !!!

Also, if you go to page 13 of the Singapore Investor Presentation July 2010, it has a NPV (Nett Present Value) of $4.24m per section and our current land holding is approximately ~150 sections which would bring the NPV to $636M or $4.54 per share!

IMO VERY COMPELLING story is unfolding.