New Director / Chief Operating Officer

Verballis Translation Services Update

Progress is being made in relation to the appointment of a new Director for Verballis. There are currently three interested parties and negotiations continue although slowly due to technical problems and my inability to enter SL. This will be resolved within a week with the purchase of a new PC.

As soon as I am able to access SL once more I shall arrange a shareholders meeting, the purpose being to elect a permanent CEO. I shall be nominating myself for this post, if others wish to be considered please notify me in advance of the meeting so that an announcement can be made so that shareholders will have an opportunity to contact and question the candidate. In reality it is likely that I will be voted as the permanent CEO due to my majority shareholding. If this decision is agreed then shareholders will be introduced to the new Management/Board of Directors and their areas of responsibility.

The meeting will also discuss the re allocation of 250,000 shares held by Sully Okelly. These shares are Treasury shares which were given to Sully whilst acting as CEO in order that he be compensated for work undertaken. I would propose that these shares are returned to the Treasury and disbursed as agreed by the Board of Directors. I welcome other suggestions in advance of the meeting so that they may be considered diligently. Suggestions made during the meeting will be considered but will be at a disadvantage as Board members will already be familiar with the other proposed options.

At present the VBL share price is artificially high due to the lack of VBL shares on the market. The meeting will discuss options regarding this situation and whether the status quo should remain or whether there should be a share split. This may be a mute point as senior positions within VBL will be allocated shares over the coming months which may increase the supply to the market. My view at the moment is to leave as is.

The shareholders meeting will not discuss the business model adopted by Verballis. This will will be managed within the Board and various strands announced when appropriate. Shareholders are encouraged to engage directly with the board with business proposals or ideas to promote Verballis Translation Services.

I thank shareholders for their patience, I have been working consistently behind the scenes in order to press ahead with various plans once the CEO position is decided. This should also free IPO funds which are still available. A number of options are being considered for the funds including an advertising campaign and permanent home for Verballis. I believe it is time for Verballis to become far more aggressive within the market place and the Board is being identified with this in mind.

If you have any questions they can be posted here, the VBL forums on Capex or I can be contacted on caymanbeaumont@hotmail.com

Regards,

CB

Cayman Beaumont
Acting CEO
Verballis Translation Services