Dear Shareholder Thank you for your inquiry. As foreshadowed in...

Dear Shareholder

Thank you for your inquiry.

As foreshadowed in BCL’s ½ year accounts to 31 December 2006 and previous announcements and circulars, the Board of Directors of BCL has been continuing to assess potential opportunities for increasing shareholder value (for example, potential non-US-facing acquisitions).

The Board wishes to ensure that all potential opportunities for re-investment with a view to increasing shareholder value have been fully investigated and evaluated before the Board proposes to the shareholders in general meeting the return of shareholder funds by way of a share buy-back.

In the event that no potential re-investment opportunity proves worthy of putting to the shareholders for approval or otherwise, the Board intends to propose to the shareholders an equal-access share buy-back.

There is not at this stage a set timetable in relation to the above. The Board will, however, keep shareholders informed as matters progress.

There is currently no date set for an AGM, but it would certainly be held in accordance with the requirements of the Corporations Act, namely, within 5 months of the end of the Company’s financial year-end.

Please do not hesitate to contact me if there is any further information you require.

Yours sincerely


Justin Gisz



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Justin Gisz
Group General Counsel
Betcorp Limited

Telephone: +1 268 764 7694
email: [email protected]