The Board established a Remuneration Committee during the year ended 30 June 2007. The Remuneration Committee’s powers and responsibilities are governed by a formal charter.< Charter - Remuneration Committee>

The Remuneration Committee reviews the remuneration paid to Directors and senior management for providing their services to the Company. The Committee may consider the advice and recommendations of external experts on market conditions as appropriate.

The Remuneration Committee is comprised of a majority of independent directors, one of whom is the Chairman of the Committee. Current members are B Killinger (Chairman) and A Snowden.