Brendan Richards and Timothy Michael were appointed Voluntary Administrators of the Company pursuant to section 436A of the Corporations Act 2001 (“the Act”) on 25 August 2010.

The Company commenced trading in 2006 as a privately owned and operated transport company providing a daily delivery service in Brisbane & surrounding areas.

The Company provides a comprehensive daily delivery service from the Port of Brisbane & Rail hubs, providing local, interstate and overseas clients with a full logistics package including container movements and unpacking.

The Administrators are now in control of the Company’s assets and operations and are conducting an assessment of the Company’s financial position. The Company’s directors have been requested to prepare a statement about the Company’s business, property, affairs and financial circumstances as at the date of our appointment.

The Administrators are currently continuing the operations of the Company while they conduct a sale of the business. Creditor should note that the Administrators do not accept liability for any goods purchased or services rendered without authorisation from the Administrators. Refer to our letter dated 26 August 2010 for more information.

At the second meeting of creditors held on 29 September 2010, creditors resolved to adjourn the meeting for a period of up to 45 business days to allow the Administrators time to continue the sale of business process and review the Deed of Company Arrangement proposal.

The adjourned second meeting of creditors is due to be held on or before Tuesday 30 November 2010 at the offices of Ferrier Hodgson, Level 7, 145 Eagle Street, Brisbane, Queensland.

Notice of the meeting date and time will be sent to creditors in due course.

At the adjourned second creditor’s meeting, creditors will consider the Administrators’ report and consider the following resolutions regarding the Company’s future, namely:

• That the Administration should end and the control of the Company be returned to the directors.

• That the Company enter into a Deed of Company Arrangement.

• That the Company be placed into Liquidation.