initial comments

Hello All,

Will cross post this on CER thread also:

Have only just skimmed through the announcement. Aside from the incredibly poor written English skills (presumably spoken too) it is quite a daring thing to do. Daring and timely and no doubt CNP Management anticipated this at some point but are still reeling.

Some points to note:

1. The CNPSA are kidding themselves and us if they think that is a resume for the nominees. We need educational backgrounds, detailed qualifications and work history.

2. Chinese people (not being racist here) but I mean Chinese people in China as in dealing with China in general is extremely difficult. No wait: EXTREMELY DIFFICULT. I am closely affiliated with an Australian business that has business over there in Shanghai and the amount of corruption and the requirement for State Issued invoices and what have you is horrendous.

3. Caution about assuming some bank in China will just be happy to refinance ALL 20 billion in group debt. This is silly and to suggest that we should believe this without further proof is also silly. The CNPSA would need to bring more to the table than that.

4. Nonetheless I don't hold yet. I will have to buy soon. I did say before that I would vote against any dilution when/if given the chance and this is it. I will also vote in favour of these two directors (upon providing more information) for the heck of it.

CNP need a boot up the behind and this looks like it is it.

Cheers.