peter meagher must step down asap, page-2

Don,

Meagher was a worry back in mid October when he was selling his EXT shares. He must be in big trouble with AXI and MKH and he is the guy that Stalker and Hohnen will be pushing for replacing Buchan.

If I have a choice of a winner like Buchan and a guy like Meagher I know who I would want as chairman.

If we let Hohnen and Meagher take charge of the EXT board we may as well forget about getting the best deal for us and watch as they organise the best deal for bailing out their failed companies.

KAH is our biggest shareholder and they deserve representation on the EXT board but when they start to dictate to us and start trying to take full control then they have crossed the line.

Pretty soon RIO will hot 20% and then they will want a representative on the board as well.

We will have people with KAH's best interests at heart, a person with RIO's best interests at heart so who will be left with EXT shareholder's interest at the top of their list?

Keep Bob Buchan there. I will write to the company and offer any assistance I can in keeping the man in charge.

Peter Mac has to chase up the $500K from KAH as well. They have shown that they are looking after themselves so we do not need to cut them any slack.

I am happy to go to London and pick up the $500K as long as it is in small bills. That's what a great guy I am.