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Further to our announcement to the Exchange dated 15 May 2002 on the abovematter, we wish to inform that the hearing of the application for Erinford Injunction was last heard before the High Court on 17 June 2002. Pending conclusion of the submission by the counsel for both parties, the application is now fixed for continued hearing on 31 July 2002.

In the circumstances, Profitera will be prevented from filing the winding-up petition against TM until the disposal of the Erinford Injunction application on 31 July 2002.