The Board of Directors of the company has resolved to appoint an Independent Expert to prepare a report for incorporation in an Explanatory Memorandum in relation to the proposed acquisition of ACW announced to the market late December 2006. This arrangement is now in train. The Independent Expert's Report will comprise part of the documentation intended to be sent to CKR shareholders in relation to this proposal when all due diligence and legal compliance work, now well advanced, has been concluded.