Company says that given the significant foundation work...

Company says that given the significant foundation work completed to date and the strong willingness of the partners to advance the project, it is anticipated that a formal joint venture shareholders agreement will be signed within the coming months.

I think if this joint venture gets the go-ahead, it may well happen before we get the funding for our expansion in Malaysia, but as CAQ has said the process has been slowed due to global finance crisis and the changes with-in State and Federal Governments.

Remember Malaysia has just got a new Prime Minister, out with the old and in with the new, there has been many changers of Ministers in the new Government, but the new P.M. intends to implement new infrastructure projects, and fast track present ones, Agriculture, and yes Aquaculture.

I am pleased that CAQ is very much committed to the operations in Malaysia, there are 13 States in the Country and CAQ has said other funding applications are pending.

With the growing world population and the demand for fish there is every possibility that with future expansions, that Cell may be the the worlds biggest land based Aqucaulture company in the world.