investor relations, page-5

I respectfully disagree with you Heraclitus. A seemingly strong performing company with minimal debt, which is very cheaply priced has decided to raise almost a third of its capital at a time when this would appear the most expensive form of finance for existing shareholders. The new shareholders got a great deal, basically getting Neptune on the cheap. As existing shareholders, our potential upside has been severely eroded. There is still upside, but not to the same extent as there would have been before. Existing shareholders are entitled to know how the money will be invested. Its been a long time since the capital raising and still no announcement. The one comforting factor is that the company is still very cheaply priced and is basically debt free after the capital raising, so I think there is very limited downside if whatever the news is disappoints. This company still offers lots of upside, but just not to the same extent in a short term anymore in my opinion