Application in Relation to Isis Communications

The Panel advises that it has received an application on behalf of the directors of Radly Corporation Limited (Receivers and Managers Appointed). The application seeks a declaration of unacceptable circumstances and interim orders in relation to an agreement entered into on 14 June 2002, between the receivers of Radly and both of Investec Australia Pty Ltd and MGB Equity Growth Pty Ltd. The agreement relates to the purchase of 19.9% of the issued capital of Isis Communications Ltd by MGB and Investec.