Friday September 17 2009 �����������������������

�������� The Hobson�s Bay North East Railway Company

The Hobson�s Bay North East Railway Company

The Directors have settled on the name of our Railway. In future all letterheads will feature our� new name and existing logo.

The Railway links Albury with Wanganella to the South, which is a junction for the Victorian Railways North Eastern Line. The Locomotive Servicing Facilities and Registered Office will be situated at Wodonga in Victoria.� Head Office �will remain at Osbornes Flat in Victoria.

The line will principally be a line haul transport Company, contracting with the Victorian Railways shifting� complete trains between Wanganella and� Albury.

Our own transport plan, involves servicing the branch line which offers traffic in Wheat, Maize, cement, bluestone and all types of general cargo. In addition we pay a lot of attention to a well patronised passenger service.

The Railway has a diverse ownership of freight and passenger rolling stock, which has been purchased from the Victorian Railways system, by adding to new orders undertaken by that entity, or by purchasing and upgrading used equipment no longer required by the VR system.

The Railway has not found any good purpose in developing a separate livery at this time, and as our friendly relationship with our southern neighbour allows some leasing of stock, we have decided to maintain the Victorian liveries.

Rail construction continues, and we are expecting to make a major announcement in the near future.

For The Directors

Rod Young

Chairman of the Board.