sliding doors, page-2

Unfortunately Vet, the job of the suits is to get a return for creditors, not shareholders although in the early stages the shareholders were a consideration if it were possible to include them and Marcus had seen a little hope.

That hope has now all but disappeared and a break up of Newsat in to saleable components is under way and almost inevitable.

Measat and Speedcast are sniffing around. Measat obviously for Jab1 but I think they will have to deal with ExIm to get that. We don't have it any longer and I think ExIm and Lockheed will be doing their own deals behind closed doors to save their butts, which I am sure they will do at our expense. Any thoughts that either one of them will find any moral or ethical conscience to include Newsat had better wake up.

Speedcast are running a ruler over the teleports so they want them. Speedcast already have a teleport in Adelaide so it makes good commercial sense for them to integrate the two. Also IMO OPTUS is also very interested in the teleports. They would be looked on very favourably and are very cashed up.

Even the "other" forum seems to have tossed it in now. Running around blaming everybody [except AB of course], and wanting writs taken out on ExIm, Lockheed, Arianespace, etc. because it was all THEIR fault [again not AB of course], so when even they can't find anything they can upramp any more then it is getting serious.

They slam the thought of a CA as being unnecessary. No way. I don't disagree with broadening the terms of reference to include ExIm and Lockheed/Arianespace but those guys would be a very hard nut to crack. Worth a thought though.

I think this will all be over within 2 more weeks.

Reportedly existing staff are already being interviewed by bidders [one bidder in particular] for our assets so they can take the best staff with them if they win. That to me shows how confident they are that Newsat are gone. Naturally the staff are very keen to negotiate with these bidders to maintain employment because they see that their future lies by following the assets to their new owner because from what they have been told and are hearing, Newsat has now gone.

The only bright light to it all is AB can't win the Newsat footy tipping contest now. He hasn't put in any entries since end of May. Perhaps his entry fee could be garnisheed and offset against his loan [every little bit helps] although with our luck he has got it listed as part of his creditor claim against the Company.

To all those who have added their details to the class action data base [now reaching toward 150 shareholders with the power of about 30 million shares behind them], thank you. Because the list is now so large and still growing it isn't possible yet to be able to send out updates to everybody. It will happen but in the meantime you are welcome to use the class action registration email contact [[email protected]] to keep yourselves informed [please not all at once.]

At the moment there is little movement anyway and nothing additional to add as the final nail must be driven home and the administrators report released before anything commences.

As far as the administrators are concerned I will attempt to talk to Marcus again toward end of this week and report back what I can.