time now to support ceo, page-8

I certainly own TTY shares and I have decided to put a little heat in the fire and attempt to clarify a few points. Here is a copy of an email I have just sent to MK.


Michael,

As you are aware just about every shareholder of TTY I have conversed with is extremely worried about the direction of TTY and the competence of its board.

Personally, I cannot believe what is happening by an experienced campaigner in yourself. With all due respect your standing in the business world and also that of your board is in absolute disarray at the present time.

The corporate governance states that the main task of the board is to optimize medium to long term gains for shareholders.

Corporate Governance also goes on to state that the Boards policy is to remove any conflicts of interest.

Listed below is the connections of the directors of TTY to the companies that TTY has had financial dealings.

Eg. Michael Kiernan – Involved with IRL, MON, TTY and MAL in varying board capacities.

Andrew Simpson – Chairman IRL.

Allan Quaddrio – Former MON Managing Director.

David Humann – Deputy Chairman MON.

Can you please explain to me how the personal connections between these companies has not influenced your decisions, and the boards for that matter of whether to loan monies, and/or buy shares in same.

Another final point is that the plan going forward from this point in time is absolutely vital in restoring what credibility TTY has left.

The shareholders do not want to see any more money loaned to these other companies until TTY is completely established and flying with a large resource base at Frances Creek. The rationale of the board appears to be putting the horse before the cart.


Thankyou for your time and looking forward to your clarification and response.


Regards


Hopefully this clarification will clear up a few fears.