Ann: Cellestis Limited Announces Improved Proposa, page-15

re: Ann: Cellestis Limited Announces Improved... Hi Timee

Regretably it is starting to look like some form of legal arm-twisting has occured. I think it would have been better if the $3.55 offer had been left to run its course, and then most probably rejected. I think a realistic offer, somewhere near the $5-$6 mark, might have then been made. The CSAG, depite all the work by Vic, has been a disaster; a miserable 7% increase in the offer. I have voted no and will not be changing my vote If most of the smaller shareholders also do this the SOA will be defeated.

I also get a feeling that there is a fair bit of anger out there amongst the minor holders because a small clique of a few major holders is calling the tune.

Red