TVSN LIMITED

TVSN LIMITED ACN 066 139 991, ACN 003 546 709 PTY LIMITED
(FORMERLY TRADING AS DANOZ DIRECT PTY LIMITED),
ACN 073 815 344 PTY LIMITED (FORMERLY TRADING AS EMJOI AUSTRALASIA PTY LIMITED), ACN 098 041 055 PTY LIMITED
(FORMERLY TRADING AS THE EXPO CHANNEL)

(ALL SUBJECT TO POOLED DEED OF COMPANY ARRANGEMENT)
(Referred hereafter as the TVSN Group companies)

Trevor Pogroske and Paul Billingham were appointed Joint and Several Administrators of the Companies on 28 October 2004 pursuant to Section 436 of the Corporations Act 2001.On the same day David Winterbottom and Martin Madden of KordaMentha were appointed Joint & Several Receivers and Managers of the Companies.

Further to a meeting of creditors held on 21 February 2005 the body of creditors approved a resolution to adjourn the meeting of creditors for up to 60 days.

An application to the Court was made on 8 April 2005 for an adjournment of the meeting to 21 June 2005. I confirm that the extension was granted to hold the meeting not later than 21 June 2005.

A further application was made on 7 June 2005 for an adjournment of the meeting to 19 July 2005, which was granted.

The third meeting of creditors of the TVSN Group Companies was held on 19 July 2005. The outcome of the meeting in regard to the future of each TVSN Group Company was as follows:

• SHOP FROM HOME INTERNATIONAL PTY LTD - Placed into Liquidation
• DANOZ DIRECTIONS PTY LIMITED - Placed into Liquidation
• DANOZ DIRECT RETAIL WARRINGAH PTY LTD - Returned to Directors due to absence of Quorum
• DANOZ DIRECTIONS CAMPBELLTOWN PTY LTD - Returned to Directors due to absence of Quorum
• DANOZ DIRECT RETAIL ASHFIELD PTY LTD - Returned to Directors due to absence of Quorum
• DANOZ DIRECT RETAIL PTY LIMITED - Returned to Directors due to absence of Quorum
• ACN 099 066 565 PTY LIMITED (FORMERLY TRADING AS DANOZ HOLDINGS PTY LIMITED) - Returned to Directors due to absence of Quorum
• TVSN INTERACTIVE PTY LTD - Returned to Directors due to absence of Quorum
• ACN 073 815 344 PTY LIMITED (FORMERLY TRADING AS EMJOI AUSTRALIASIA PTY LIMITED) - To Execute the pooled DOCA
• ACN 003 546 709 PTY LIMITED (FORMERLY TRADING AS DANOZ DIRECT PTY LIMITED) - To Execute the pooled DOCA
• ACN 098 041 055 PTY LIMITED (FORMERLY TRADING AS THE EXPO CHANNEL) - To Execute the pooled DOCA
• TVSN LIMITED - To Execute the pooled DOCA

Please note that the execution of the DOCA was subject to ratification in the Supreme Court of NSW within 21 days of the meeting. The Supreme Court of NSW on 22 August 2005 issued a direction that it was proper for the Administrators to execute and to give effect to the DOCA dated 3 August 2005.

Any queries regarding the Administrations of the Company should be directed to Geoff Baker on 02 8297 2428.

Please click on the following links to access documentation relating to the Administrations.

Document Name	Date
Notice of Appointment letter to creditors	26 October 2004
Instrument of Proxy	26 October 2004
Proof of Debt Form	26 October 2004
Statement of Independence	26 October 2004
ASIC - Information for Creditors	26 October 2004
Danoz - Minutes of First Meeting of Creditors	4 November 2004
Minutes of the Adjourned First Meeting of Creditors	4 November 2004
TVSN - Minutes of First Meeting of Creditors	4 November 2004
Court Order - Extension of Convening Period	17 November 2004
Report to Creditors - Second Metting	11 February 2005
Amended Notice of 2nd Creditors Meeting	14 February 2005
TVSN - Minutes of 2nd Meeting of Creditors	21 February 2005
Letter to creditors re: extension application	05 April 2005
Copy of Court Order re: extension of time	05 April 2005
Letter to creditors re: extension of time to 19 July 2005	9 June 2005
Second Report to Creditors	11 July 2005
Notice of third Meeting of Creditors	11 July 2005
Instrument of Proxy Third Meeting of Creditors	11 July 2005
Formal proof of debt form	11 July 2005
Copy of Judgement - Receivers' Application approved 12 July 2005	12 July 2005
Minutes of Third Meeting of Creditors	19 July 2005
Annexure D to Minutes of Third Meeting of Creditors	19 July 2005
Executed DOCA proposal	3 August 2005
Court Directions given regarding the DOCA proposal	22 August 2005
Declaration on Capital Losses	19 October 2005
Letter to Creditors	07 March 2006
Notice of Intention to declare Dividend	07 March 2006
Formal Proof of Debt Form	07 March 2006
Third Report to Creditors - Report - Notice of Meeting of Creditors - Report - Appointment of Proxy - Report - Formal Proof of Debt - Report - Time Cost Analysis - Report - Staff Responsibilities - Report - Charge out rates	13 October 2006