Ann: Response to ASX Query, page-32

To use some of your like expressions...what utter rubbish riddled with innuendo, falseties, fallacies and misguided if not unfounded hope.

Technical issues resolved? What technical issues are you referring to and if it is regarding funding something they are getting questioned by the ASX in regards their compliance....technical issues resolved my derriere, that is as inane as ever and sounds like a grease monkey saying "Oi, I dun greased ya rear axle so the front wheels shud be good now mate and ya safe to go".

As for an 8% coupon rate on a 5 year bond it puts is squarely in the sub-investment grade territory (or non-prime if you want to use Moody's description). The current base rate in the US is 1.5% as is Australia at this point with a possible cross-over soon. The US CCC corporate rate bonds are testing a yield of about 8.8% with a coupon rate of about 8%. They are clearly in junk bond territory.

PDF has some answering to do and right now it appears those answers are being sought by the ASX on two fronts for one issue, disclosure on funding. The other matters will possibly unfold soon after as the ASX digs deeper including their attempt to relist.

Your views on PDF are as fanciful and wishful as Pacific Dairies Fiji Limited being a legitimate currently registered Australian business. Wonder where Asia Pacific Logistics went to by the way. Historical behaviour repeating itself perhaps?

We were never on the same page, thankfully.