Active Equities Limited

Registered Office Address
Level 18  
Caltex Tower  
282-292 Lambton Quay  
Wellington  

Directors
COLLINS, Paul David
REDDY, Patricia Lee
HANCOX, Bruce


History
Incorporated: 26-NOV-1998
Active Equities Limited ("AEL") is a specialist investment company
based in Wellington, which was established in 1998. The company�s 
founders, Bruce Hancox, Paul Collins and Patsy Reddy, are all     
Executive Directors and significant shareholders in the company.  

Active Equities initial capital base of $40 million is managed by 
a small team of five including the three Executive Directors. The 
company has around 100 shareholders and its shares are quoted on  
the Unlisted Securities Market.                                   
excerpt from www.teamtalk.co.nz



Major Shareholders

Shares on Issue
100,000

Ownership Restrictions

Major Assets
Hawkes Bay Meats 51% (as at 28 Jun 2001)
Infinity Group 35.4% (as at 7 Nov 2000)
Teamtalk 60% (as at 16 May 2001)
Jade Software Corporation - ?%


Website


News

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

11 June 2002 - NZUM
Securefresh Pacific, an Active Equities controlled company, is having a $2M dispute with     
soon-to-list (NZSE) Vertex. The exclusive agency for a low oxygen meat chilling packing      
system is held by Vertex having bought the Asia-Pacific patents from Securefresh Pacific.    

The dispute centers on the fact that a second payment was to made if the technology, which   
replaces oxygen with carbon dioxide within the meat pack, could be used with foam trays      
instead of rigid plastic ones. This, according to Vertex, failed to occur within 12 months of
the sale.                                                                                    

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

04.04.02 - NZUM

Active Equities have reported a six monthly profit to December of $36,989 (tax paid), the    
result was achieved from income of $8.53 million and includes the write off of $1.61 million 
worth of goodwill.                                                                           

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

16 May 2001 - NZUM
Active Equities buys large stake in TeamTalk 

Active Equities has become a majority shareholder in TeamTalk, which has about 90% of the    
market.                                                                                      

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Excerpt from www.infinitygroup.co.nz

November 2000
RDT Pacific becomes a 100% subsidiary company of infinity group.

August 2000
$10 million raised through private placement of new capital.
Purchase of Comtex Group Ltd complete. 

May 2000 
Active Holdings changes name to Infinity Group.
Acquires 100% of Trilogy Business Systems Ltd, Quanta Systems Ltd and Madison Systems Ltd. 

April 2000
Active Holdings makes initial investment in Madison Systems. 

March 2000 
AEL subsidiary Active Holdings buys InfoVista Pty Ltd.
AEL acquires further IT investments through Active Holdings. 

September 1999
Private investor Active Equities Ltd (AEL) takes 17% of Trilogy Holdings,
effectively marking the start of Infinity Group. 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~