When good news oooaahh99?, page-2

Morning Tebley,

Truthfully I do not have a clear date about the timing, and unlike some I will make a clear definition on what I do know and what I don't.

I think they are looking at an FNT result they can take to shareholders in three to four weeks. This means they will need to gain an extension for completion from shareholders, presumably in the same document as a seperate resolution. This is not a big problem.

I do know that a lot of the progress (potential or realised) in the corporate area is (and will be) due to the work of the most recently appointed director, Paul Biddle.

Biddle is well known figure in UK business circles. He was CFO of all retail and commercial banking divisions (which accounts for 80% of turnover/profit) at Natwest bank, the largest bank in the UK, and held the position for several years. He also had several other responsibilities such as managing the sale of County Natwest to Salomon Smith Barney for example.

A logical question is why would the equivalent of CFO of the Commonwealth Bank join the board of a junior telco, in this environment, that is not even listed in his home country? I think because he can see the upside if ATC can be guided through the current situations (ie funding etc). I do not believe he would join to warm a seat.

On the operational side, I have heard the numbers are very good this month (US$40k + per day). I suppose that would mean they might announce monthly revenue for October in early November, but considering the effect that previous announcements have had they also might save their breath. They would probably combine them with the EBITDA +ve announcement that will happen sometime througth this qtr. Hopefully they might get some good press this time although I am not holding my breath.