The Role of the Bank of NY, page-3

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    Yes, the launch is a milestone. Here's an extract from their latest that spells out what I meant by 'the role of the Bank of NY'. Note the number of mailings, targeted or otherwise:

    "... The Bank of New York will act as the Company's Depository. Under the
    terms of the sponsorship arrangement with the Bank, the Bank absorbs
    most of the fees and charges associated with this Level One ADR
    programme. The Bank has established the client reporting and support
    services associated with this programme and will embark on secondary
    market promotional services shortly. Amongst other things, this will
    incorporate

    * Depository Receipt Internet Access - www.adrbny.com with links for
    VRI BioMedical and a hypertext link to the Bank's Global BuyDIRECT
    facility.

    * Targeted mailings to over 15,000 registered representatives
    authorised to sell securities in the US.

    * Mailings to the Bank's proprietary databases of over 25,000
    advisors, consultants, institutional brokers and portfolio managers,
    retail brokers and specialised analysts.

    * Listings of VRI Biomedical in the Bank's Research magazine
    distributed to over 85,000 registered representatives.

    * Support in profiling the Company with key Investment publications,
    the Bloomberg Forum, senior managers and analysts of investment banks
    and investor relations firms.

    An initial investor road show in the USA is planned for later in 2002
    with the Company committing to regular investor road shows in the USA
    to establish and maintain the Company's profile in conjunction with
    the Bank's promotional services ..."
 
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