Wellington Capital Update, page-2

Hi again Nor,
I must apologize to you as I have got part of my last Post to you, wrong.
ARL WERE, originally using Armstrong Registry, and now have decided
to switch to LINK Registry services.
So sorry about that.

As to the outcome of Wellington's court case, re in-specie distribution of ARL shares,
if they lose their appeal, as far as I can tell, the individual Issuer Holding Statements we
were given would be taken back, and the shares would be held in group by the PIF,
but may stay with the current registry. That decision would be in the hands of the RE
namely, Wellington Capital Ltd.

Regards.