Application in Relation to Pinnacle VRB Ltd (No 2)

The Panel announced that it has today received an application for a declaration of unacceptable circumstances in relation to the affairs of Pinnacle VRB Ltd. The application is made by Federation Group Ltd which is currently bidding for all the issued shares of Pinnacle (and two classes of option which Pinnacle has on issue). Federation commenced its scrip offer for Pinnacle on 2 October, 2000.