Ann: Research Report on NuSep , page-2

On the last page of the "Research Report"

"Alpha makes no representation and gives no warranties about the accuracy or completeness of the information and material, including any forward looking statements and forecasts made by NuSep Holdings Ltd to Alpha, and it should not be relied upon as a substitute for the exercise of independent judgment."

FORECASTS MADE BY NUSEP HOLDINGS LTD TO ALPHA

So the management paid Alpha, with our money, and gave them the story.

From the Alpha report of 6 September 2012;

http://www.nusep.com/user_files/1346905605_NuSep%20Holdings%20(Alpha%20Securities)%20%206%20September%202012.pdf

"Development Timeline for PrIME’s Entry into Singapore
NSP’s short term goals for the Singapore project include:

By February 2013:
? Manufacture initial trial production batches of IVIG and Albumin; and
? Start Singapore sales of an existing therapeutic plasma product range.
By May 2013:
? Gain HSA cGMP approval for Singapore’s manufacturing facility;
? Apply to the Indian FDA for marketing approval for the CUP plasma products; and
? Start clinical trials of IVIG and Albumin in Singapore.
By August 2013:
? Start processing initial 50,000 litres of India CUP
? Start the setup of a manufacturing facility in India
By December 2013:
? First sales of India CUP product.
By August 2014:
? Complete clinical trials of the IVIG and Albumin in Singapore;
? Start clinical trials of hyperimmune plasma products in Singapore

So how are the Singapore sales, begun in February of this year going?

Will any of these short-term objectives be met by the 2013 AGM?

Should we believe anything from the latest Alpha update?

How many clients has Alpha had buy NuSep shares?