In light of the ongoing SARS outbreak, Censere is operating a reduced staffing policy in our Hong Kong office. Staff have been instructed to work from home except where necessary until further notice. Measures have been taken to ensure that this does not cause disruption to ongoing work as follows: Clients can continue to call our direct office numbers/general numbers as these have been forwarded to corresponding mobile phones. Faxes are automatically forwarded to e-mail and will be received remotely. Mail is checked regularly and forwarded accordingly. Deliveries/Couriers should contact Chris Lo at 2179-2011 to arrange delivery as our office may be unmanned during normal office hours due to the above measures. Travel to SARS affected areas will be assessed on a case by case basis and we may be forced to delay inspections due to quarantine measures being put in place by certain parties. Where possible we will utilise staff from areas which are not affected by SARS in order to avoid delays. Any staff exhibiting SARS symptoms will not meet with other staff or clients for a period of 10 days. The above measures are designed to ensure both the smooth completion of work and safely of our staff and people with whom they interact.

Happy Chinese New Year to all our friends and clients. We wish you all the best for the year of the goat.

We would like to thank all our clients for their support during 2002 and wish you all a Merry Christmas and Happy New Year.

Brett Shadbolt, Group Managing Director, has been invited to speak at a seminar co-organised by the Intellectual Property Office of Singapore (IPOS) and the IP Academy of Singapore about the valuation of intellectual property. This seminar, specifically directed at the Singapore press community, will focus on the emerging importance of Intellectual Property to Singaporean corporates and how IP can be properly identified and managed. The seminar will be held in the training room at IPOS's office, 51 Bras Basah Road, #06-01 Plaza By The Park, on October 21st, 2002, between 9.00am and 2.00pm. The seminar will be open for all members of the press.

Censere is pleased to announce that it has been admitted to SurfIP's Panel of Advisors for intellectual property valuation services. SurfIP is an intellectual property portal operated by the Intellectual Property Office of Singapore and intended to assist private enterpise in the commercialization and management of all forms of intellectual property. For more information relating to SurfIP please visit them at www.surfip.gov.sg