Andrew Saker, Peter Geroff and Darren Weaver were appointed Joint and Several Receivers and Managers over the assets and undertakings of the Group on 26 November 2008 pursuant to various securities executed in favour of Macquarie Bank Limited.

We advise that we, the Ferrier Hodgson Receivers, have retired as Receivers and Managers of the Group effective as of 6 February 2009 following the completion of our role as Receivers and Managers, and the assignment of the debt due to Macquarie Bank Limited to a wholly owned subsidiary of ASX listed resources company Cape Lambert Iron Ore Limited.