options, page-4

G'day,

This may surprise but this is an instance where (on the available facts) I do not agree with the company's actions.

I am a long term investor in CST and have been happy to risk my money on this venture for the returns that I will get. The important part of this is that I took a RISK to get the REWARD. Those who take the risk should get the reward (or the punishment).

I can understand to a certain extent that during the early days of a company when there is no positive cashflow that it may be appropriate to pay part of employees wages with equity. However, that slim justification disappears once the company has positive cashflow. Particularly when the company has no need for the cash (other than to pay dividends).

I welcome those employees who wish to join me in taking a risk on this company to reap the rewards. They can do this easily by using some of their wages to buy shares on the ASX.

Like LOPEZ, I hope that this is not repeated year on year.

As an aside I understand that these options went to employees, not Directors.