options, page-2

Purchase of these options gives you the right to convert them to an equal amount of VLA shares @ 0.04 in June 2010 regardless of the market price of the shares at that time. (no stamp duty or brokerage fees). If you don't take up the offer your right lapses.The options will be listed on the ASX subject to approval and will therefore have a market value and be able to be traded until exercise date . Cheers