GAS-L: Apology - Dynamotive Energy Systems Corporation

[Cordner Peacocke <cpeacocke@care.demon.co.uk>]

Dear All,

I have been contacted by lawyers acting on behalf of Dynamotive Energy 
Systems Corporation asking me to retract my statement that Border Biofuels 
are bankrupt.  I apologise for the statement in that my words poorly 
reflected the details of Dynamotive's press release of 28th May 2002 and 
that neither Border Biofuels nor Dynamotive are bankrupt.  It was not my 
intent to cause any harm or embarrassment to Dynamotive Energy Systems 
Corporation, as I am keen to see pyrolysis and gasification develop as 
viable technologies in the UK.  I apologise unreservedly for any offence or 
distress that I may have caused.  The press release from May 28th 2002 
follows to clarify the situation:

The Company aims to further reduce costs of operations in Europe through 
the relocation of its European Headquarters. As part of this process, the 
Company also announced that all Border Biofuels Limited staff were made 
redundant pending restructuring of operations and that selective 
re-employment is expected. It was further announced that the Board of 
Border Biofuels has resigned due to personal reasons, terminated employment 
agreements and opposition to the aggressive financial restructuring the 
Company demanded, paving the way for the restructuring process to begin. 
DynaMotive, as the majority shareholder of Border Biofuels, will be 
appointing new board members to Border Biofuels.

Cordner Peacocke

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