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Mike Pero re Origin Pacific

Friday 11 August 2006

A copy of a memo from Mike Pero re Origin Pacific.
This sets out Mike’s intentions, which are to purchase the freight business as separate company.

Sent: Friday, 11 August 2006 3:29 p.m.

To: Robert Inglis; Greg Rudings; Howard Clentworth; John de Vries; Wayne Christie
Subject: Rescue of airfreight business

Gentlemen

Firstly I am saddened to hear that our airline has almost come to the end of the line. I know everyone has done their best. My thoughts are with you at this time.

As I understand the airfreight part of the business (if isolated) is profitable.

I write to express my interest in purchasing this part of the business while it still has some value. From today the value of this division will diminish on a daily basis UNLESS something is done immediately to assure customers otherwise..

I have met with Wayne Christie (the Freight manager) and while I am on business for another company in AKL today.

In brief I believe I am in a position to:

- Take on the role of CEO/major shareholder
- Purchase the freight operation if all parties agree including QF / JC and Chatham’s
- Satisfy airline creditors that this is a wise move – some money rather than none
- Retain some staff
- Retain some dignity for current shareholders/directors
- Provide a seamless transition for customers and staff
- Provide long term security for all involved

If this is communicated to the current customers I believe it could help preserve the current database of customers. This memo is NOT confidential and I intend to make my intentions public.

I would expect to complete DD by 6pm Tuesday evening.

I await your immediate response.

Regards

Mike

ENDS

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