Future Investors and Lenders, page-8

Hi jma,

I still think the freeze/thaw test is a biggie, due to the fact that it will make EdenCrete even more of a no brainer in countries with cold hard winters. These countries engage in major repair programs in Spring every year and the repair costs are huge as well as the discomfort and additional costs to motorists.

I am a long termer and not one to speculate on where the SP is likely to go in the short term, however, after today’s news, my calculation of 47 cents per share in 18-24 months you can throw out the window! I am now firmly convinced that we will see the SP at 47 cents by the end of this year. I have just revised my SP prognosis for the 18-24 month time frame up to A$1.00.

With regard to the next big announcements, considering that the GDOT were involved in the whole incentive scheme from the start, I believe, as I have always done, that the GDOT is the star of the EdenCrete show. I also believe that the GDOT will now, more than ever, move with the utmost speed so that they can start ordering EdenCrete.

I see the following things happening, and probably in this order:

1. Class B handling specs finalized by the GDOT (at the very latest in May)
2. First orders for Class B application placed by the GDOT (at the very latest in June)
3. Class A mainline paving tests fast tracked by the GDOT (section of highway laid in May)
4. Class A specs finalized by the GDOT (at the very latest in July)
5. First orders for Class A application placed by the GDOT (at the very latest in August)

During this time I expect other DOT's to follow GDOT's lead. Although I am not sure, I believe that the other DOT’s wil not have to do their own testing nor will they have to write their own handling specs. Therefore orders could follow pretty swiftly after the GDOT have placed their first orders.

It goes without saying that further significant commercial orders from the private sector will continue to be received on a regular basis.

Although I believe GS wants to retain 100% ownership of EDE/EdenCrete, and in fact this might just be an integral part of the incentive deal with the State of Georgia, I can imagine at least one company being interested in taking over EDE/EdenCrete. As I said on the 13th of April, this deal will have to be worth at least A$ 1.1 billion or A$ 1.00 a share. However after today's news, this figure is probably now far higher.

I would also not be at all surprised to see a major concrete or admixture company try and do some sort of exclusive deal with EDE/EdenCrete, although apart from the obvious marketing and speed advantages, I am not entirely sure whether GS would want to, or need to enter into this type of cooperation.

Of course there are plenty of other positive things that could come out of left field!

I hope this helps a bit.

Cheers!