Ann: Appendix 4C - quarterly , page-2

We should not have expected any surprises in this Qtrly given that a rosy shareholder update was given on 18th Jan 2012 which did signal however that we had to be patient with the Egyptian partners given the turmoil in Egypt...surprise, surprise!

However we now find in this the Qrtly report that AAMC did not deliver a machine for Egypt on time (end Dec)and a key milestone in the Egyptian agreement was missed. No details were given but some of us are curious where these new machines are actually being constructed (eg China rather than Adelaide?) and how they are being paid for.

The failure to disclose this little problem in the shareholder update seems remiss...especially as the share price recovered a bit recently.