Frankly, I could care less about any comparison between UTS and Connacher. At present, I am only interested in Connacher and what Connacher Management is doing to ehance my net worh. And after four years Connacher has not done a dam# thing on that score. I understand that the past year has been a difficult period. But, frankly at the end of the day, I do not care.

So far, we common shareholders just keep on giving in both dilution and share price. Has Management suffered similarly? As their shares have been acquired far below fair market value through insider options and as I have not heard of any key employee voluntary pay cuts, I can only conclude that we as shareholders have been left to absorb losses in principally solo fashion. Additionally, through the soon to be reality of diution,insiders will get added benefit again through the inherently unfair and unjust provision of adjustment for the effects of dilution, which they enjoy and were foolishly approved by shareholders two years ago.l

It is our money which Management keeps playing with and eroding away. Frankly, I am dam* tired of their cavalier attitude when it comes to how they execute their fiduciary responsibility. It is time for results which are accretive to my net worth. Not just theirs!

Brian