Thank you Denver, Wavenet bought the 50% from a third party ,...

Thank you Denver, Wavenet bought the 50% from a third party , not from me. The property is run independently , any loan funds advanced are fully secured and attract better than bank interest rates.The board, independent from myself, have had legal advise on every transaction. The accounts are independently audited. The board took the view that it was an opportunity to protect shareholders equity by diversifying its investments. This strategy has been an overwhelming success , particularly in light of Carrabella's current share price. Please note that the strategy was used as a hedge , especially with the uncertainty of the Global Financial Crisis, which has been openly stated in my review of operations in our annual report. Please be assured that all assets that are non core will be moved on to fulfill our stated objectives in a timely manner, that the board believes, will bring the best value for shareholders. Any ill-informed claims to the contrary are without foundation and mischievous.

Mick Stroud