SUPPORT FOR ALL SHAREHOLDERS, page-6

Both of you have valid points.

I have to ask more about who these shareholders are and what their motivation is. What were the full terms behind their investment?

The Company notice stating "the company is firmly of the view that these changes are not in best interests of the remaining 77%" was signed by one of the directors being asked to resign in his role as company secretary.

I remember the Friends of PPY days, and also the supposed shareholder newsletters that were going to become a regular occurrence outside of the required ASX reporting. These faded into obscurity rapidly.

The company has changed track from paper to veneers, to packaging products. and so on. We have seen footage and sample product demonstrating the ability to produce all of these items. Despite these changes in markets, long term investors have still not seen any return. After all these years. Papyrus Australia still do not appear to have any valid customer paying for technology licenses, which was the whole premise for the company.

What is the basis behind the convening shareholders comments?

"we refer to recent discussions that we have had with certain of the directors in respect of the composition of the board of the company and the roles of Vincent Rigano as director and company secretary and Edward Byrt as director."

Who were these "certain directors" that were involved in these discussions and what did the discussions relate to?

The Board has known about the request for the EGM since 17th November, with the ASX notice being issued on 29th November, "We are in discussion with the member that have signed the 249D Notice with a view to the timing of the EGM". It is now the 12th December, and we are still waiting for a date to be announced..

As usual, substantive information is not forthcoming for shareholders.

How many "discerning investors" diluting the shareholdings and joint venture partners has the company had now that have resulted in similar actions? There is still no "income generating licenses" to speak of.