Censere's KL office is relocating. With effect from 20th October 2003 our new office details will be as follows: Censere Malaysia Sdn Bhd Suite 1002, Level 10, Block B, Phileo Damansara II 15, Jalan 16/11, Off Jalan Damansara 46350 Petaling Jaya, Selangor Darul Ehsan Malaysia Our phone and fax numbers will also be changing to: Tel. (603) 7665 2703 Fax. (603) 7665 2702

Brett Shadbolt, Managing Director at Censere, will be presenting a paper at the Euromoney 2003 China Tax & Accounting Summit being held on the 14th & 15th of July 2003 in Hong Kong. Mr Shadbolt will be discussing Asset Valuation in the PRC. Program details will be available shortly.

Censere's Hong Kong office is relocating. Effective 1 June 2003 our new address will be: 25/F, Bank of China Tower 1 Garden Road Central Hong Kong Phone and fax numbers remain the same, however there might be some disruption to our direct dial numbers during the first week of June while the system is being moved. If you have any difficulty contacting anyone via their direct dial number, please call our general number - 2511 2011.

Brett Shadbolt will be presenting a paper titled The Value of IPR at a seminar jointly organised by the Singapore Infocomm Technology Federation and the Intellectual Property Office of Singapore on 5 June 2003. The event will be held on 5th June 2003 from 1.30pm to 5.00pm and will offer advice on the fundamentals of Intellectual Property and how it can be protected. For registration, please reply directly to the SiTF via email or phone to Sherry at: This email address is being protected from spambots. You need JavaScript enabled to view it. or Tel: (65) 6325 9710

Censere is participating in the Optimal (Optimising Intellectual Assets) Conference and Exhibition which is being held in Singapore on March 12-14 2003 at Hall 601, Suntec Singapore. Please come and visit us at Booth No. 236 during this event.

Brett Shadbolt, Managing Director at Censere, has been invited to present a paper to MBA students at the HK University of Science & Technology on Saturday, 8th March 2003. This event is part of the regular Saturday afternoon MBA program where UST invites entrepreneurs and business people to share their knowledge with students. Mr Shadbolt will be talking about the identification and valuation of intellectual property.

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