Ann: Letter from the Chairman , page-3

This is the kind of update that we should have received more often. Even if the information is not definitive it does give a clear statement on which directions we are going on key issues. Shareholders will easily accommodate that major events (contracts) such as the ABS JV take time to negotiate. We are told that we can expect a result in about one month. We won’t mind waiting a bit if the progress is explained.

Communicating in this manner is a good way by which management can take shareholders with them and not horrify them by appearing to suddenly go on another tangent.

I had thought that a suitable Singaporean facility had already been located twice before. The pics look good but is this specific equipment that PrIME Biologics actually needs? Are they of the appropriate scale (capacity), etc? Has any equipment build actually occurred?

Great that there are offers of support to fund the SpermSep trial. No doubt the string attached will be to farm out in exchange for part ownership. However, as with the ABS arrangement, the critical issue now is to get this circus on the road and working as rapidly as possible. Enough of decades of fiddling.

The tenor of this announcement is genuinely positive. It almost sounds as if John M really wants to have the General Meeting to make some dramatic reports. I shall be there! Writing questions already.

Juke