From March QtrlyNorth Sound Court Application Further to the...

From March Qtrly

North Sound Court Application Further to the announcement made on 21 December 2007, regarding the application filed with the Federal Court of Australia in Sydney by North Sound Legacy International Limited ("North Sound"),
a shareholder in the Company, various orders have been made by the Court regarding the filing and serving of evidence by both parties.

At a direction hearing held on 18 April 2008, it was explained to the Court that both parties were
having discussions with a view to resolving the issues.

The Court made the following orders in
respect of future progress of the matter:

·The scheduled hearing dates of 5 and 6 May 2008 were vacated

·The matter was to be re-listed for directions on 23 May 2008, at which point North Sound is required to produce documents

·Both parties have liberty to apply on 48 hours notice for the re-listing of the matter before the Court.
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The main positive being that NS hasnt had the matter relisted(which they could have done on a 48 hour notice) up to this date which MAY mean we MIGHT get a conclusion to the legals.Hopefully another little stumbling block(of the potential many)out of the way.

d.