Meyado Group Holdings50 Shirley Street Nassau New ProvidenceBahamasThursday, 13 November 2008To: Nominee Shareholders in Meretec LimitedDear Sir/Madam,

RE: Meretec Limited

Recent market turmoil and global events have had an obvious adverse effect onMeretec’s ability to refinance its institutional bonds. The global fall in share prices andstress on the financial system combined with the dramatic slide of the Australian Dollar against the U.S. Dollar has made it impossible for Meretec to refinance at this present juncture.We have been informed of the following:The company completed the sale of the business and assets of Meretec Limited on the12

August 2008 in return for 37.5 million shares in CMA Corporation. The shares inCMA are held in Escrow and Lock-Up Agreements until August 2010.The company had issued Institutional Bonds which were due for repayment on 31

October 2008. It was not possible for the company to refinance the bonds before thisdate due to the fall in the value of the assets.Consequently the board of Meretec sought advice from Davenport Lyons as LegalAdvisors and Smith Williamson Limited as Insolvency Practitioners on 28

October 2008 and it was determined that the company should no longer trade and should seek toappoint an Administrator with the intention to preserve and maximise the value of thecompany for secured creditors, unsecured creditors and shareholders alike. The boardtherefore filed intent to appoint an Administrator on 28th October 2008.

On 6

November the board of Meretec was informed of the appointment of Simon Plantand Daniel Plant of SFP in London as Joint Administrators by a majority of theBondholders.SFP’s details are as follows:

SFP9 Ensign HouseAdmirals WayMarsh WallLondonE14 9XQUnited Kingdom

From the date of this order the board of Meretec no longer hold management powersunless delegated to by the Administrators. The board of Meretec is currently liaisingdirectly with the Administrators and is awaiting direction as to the further course of anyaction that they may wish to adopt.We believe that the administrators should choose to adopt a “Return to Value” strategylasting for the duration of the Escrow and Lock-Up Period as the most sensible way to provide the best value to all the creditors and the shareholders as a whole. In any case,

all shareholders will be informed by the Administrators when they decide the mostappropriate course of action.

We are giving the Administrators all the details of the nominee shareholders of MeretecLimited, including all contact details, so that information can be made available direct.All nominee shareholding positions will be converted into individual shareholdings, andall current nominee shareholders will hold ordinary shares in their own name with fullshareholders´ rights and votes.

Once the Administrators have settled on the bestcourse of action over the coming months they will inform shareholders directly.