Resolution:Audit Committee Jan07

Resolved that,

The audit committee for one year shall consist of

The Board directs the committee take all steps necessary to prepare quarterly or semi-annual reviews, and the next financial year external audit.

The Board authorizes and directs the audit committee to take actions necessary to approve the audit charter.

The Board directs the committee to report back by 7th of February 2007 with the designation of a chairperson

The Board directs audit committee to proposed a list of actions to be defined by 2nd week of february

Approved during board meeting 12-14 january 2007

Reference Resolution:Audit Committee - Passed 14-Jan-06