Dear Mr Chairman, page-9

Hoyland I walked down the road today in Sydney (before the rain) with a very large BLT holder we discussed such things as:

1. The basis used to arrive at the number of options proposed to be issued to each party?
2. The basis used to determine the exercise price?
3. Are the issuees liable to pay tax at the time of issue of the options or only on the vesting?

The holder will be attending the meeting and will be asking these questions and more.

Hoyland the chairman not responding to your email is pure arrogance.

VOTE NO!!!