Tuesday 24th February 2009

Dear Reader,

How nice to be able to recommend a privatisation offer for a change...

Accept Nam Tai's offer for NTEEP
It is now proven that the Dec-07 acquisitions by NTEEP (2633.HK) from its parent (NYSE:NTE), which we opposed, destroyed shareholder value. Today NTE has launched a privatisation offer at HK$1.50 per share. Webb-site.com editor David Webb holds over 10% of the float and intends to accept the offer - we explain why. (24-Feb-2009)

HKEx invents square wheel
HKEx has reportedly approved a new rule which will make it the only market in the world to have no price caps in regular trading but a limit on movements during the closing auction, thereby locking in any manipulation that occurs just before the auction. Many developed markets have adopted random auction closing-times to deter manipulation, which HKEx did not even allow for in its recent consultation. (12-Feb-2009)

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David M Webb
Editor, Webb-site.com