Ann: Update on Legal Proceedings Against Bayan Re, page-4

re: Ann: WEC: Update on Legal Proceedings Aga... "The estimated loss of profits ranges from $63 million from a
production capacity of one million tonnes per annum
to $749 million for 15 million tonnes per annum. Further, BCBCS claims damages for wasted expenditure. BCBCS submits that Singapore law recognises a plaintiff's right to claim reliance losses and cite s Halsburys Laws of Singapore [80.545] in support of that proposition. There is nothing to
contradict that proposition, which I accept. The wasted expenditure which BCBCS seeks to recover in the Singapore proceedings amounts to at least $US138 million."

A real Thriller !