ENTERTAINMENT MEDIA & TELECOMS CORPORATION LIMITED(ETC)

name changed to Nexbis Limited

we understand that on or about this date the company consolidated its shares 1 for 5

shares reinstated to quotation

releases its Half Yearly Report & Half Year Accounts to 31 December 2006

releases 2006 Financial Statements

releases Half Yearly Report

cash flow for the quarter ended 30 December 2006 reflects a surplus at operating level of $20k

company advises that it expects its shares to be re-quoted by the end of next week

releases Half Yearly Report

releases cash flow reports for periods up to 30 September 2006

company is to focus on the Sapio AB business - directors expect to be able to apply for re-quotation of the company's shares by the 2nd week of February 2007 (last we heard, "directors consider it will be in a position to apply for re-quotation in July 2006")

company releases an overview of the Sapio AB business

the company has acquired the remaining 9.9% of shares in Sapio, the consideration being 5.94m shares in the company issued at 1 cent a share

the company is also likely to acquire the remaining shares in Sapio and is negotiating with the minority shareholder

the company has acquired 90.1% of the shares in Sapio, a telecoms business, the consideration being 54m shares in the company issued at 1 cent a share

company advises it has signed a letter of intent to acquire Sapio, a telecoms business

company advises it has to lodge '05 and '06 accounts and will not be in a position to apply for re-quotation of its shares until mid to late January - also the acquisition of the telecoms business should be completed in two weeks

at its general meeting today the resolution for the future placement of securities was passed on a show of hands

company advises it has signed a letter of intent to acquire all the shares in Interactive Telecoms P/L and Fax Mobile Accessories P/L for $500,000, half in cash the rest in shares - there is a delay with the Cardinal Communications transaction

directors expect quarterly cash flow to be lodged within a couple of weeks and that it will be able to apply for re-quotation of its by September 2006

company advises that the receiver has retired and it is focused on finalising the statutory issues that remain outstanding and that currently stand in the way of EMT applying for re-quotation on the ASX - directors consider it will be in a position to apply for re-quotation in July 2006

company releases an update on its restructure - the directors advise that the receiver has finalised the second phase of the process of resolving the debts of the EMT group of entities - an informal proposal was put forward to the unsecured creditors of the various subsidiary entities which resulted in the majority of unsecured creditors being satisfied - in accordance with this process, 50,757,859 shares have been issued at 1.0 cent per share - the directors and the receiver of EMT are now focused on "tidying up" a small number of residual creditors of the EMT group of entities and expect that the receiver will be in a position to retire during the month of May 2006

lodge quarterly cash flow report for the quarter to 31 March 2006 - it shows a surplus at operating level of $20k

lodges two quarterly cash flow reports - the one to 30 September 2005 shows a deficit at operating level of $684k and the one to 31 December 2005 shows a surplus at operating level of $213k

the restructuring of the company is progressing with Cardinal Communications Inc and Livonia Pty Limited both effectively swapping debt for equity - each hold 19.99% of the issued capital - the holdings of existing shareholders are therefore significantly diluted but the directors of EMT "remain confident that it is possible" that EMT will be in a position to apply for requotation during the final quarter of the 2006 financial year

company advises of a new registered office at Level 20, 99 Walker Street, North Sydney NSW 2060 - Telephone - 02 9657 1311 Facsimile - 02 9657 1312

company applies for the quotation of an additional 116m shares issued to reduce debt and satisfy creditors

the company's directors provide a reconstruction update and advise that the reconstruction activities are progressing well and that it is possible that the company will be in a position to apply for requotation during the final quarter of the 2006 financial year

all resolutions put to the General Meeting of shareholders today were passed on a show of hands

provides notice that a General Meeting will be held on Thursday, 2 February 2006 at 10.00 AM on Ground Floor, 100 Walker Street, North Sydney - the resolutions to be considered involve the placement of securities, the future placement of securities to directors and the ratification of a previous issue of 13,500,000 shares to Khan Stockbroking Pty Ltd at 1.3 cents a share to raise $175,500

applies for the quotation of an additional 10.75m shares

receivers advise the secured creditor has assigned its security to a third party and this has resulted in the retirement of the receiver as of yesterday - they remain appointed to the subsidiary companies and will continue to realise the assets of those subsidiaries

Gideon Rathner of Lowe Lippmann appointed receiver and manager

receivers advise of the partial sale of the EMT's Group assets located in Australia and New Zealand

administrators advise that the sale of the US-based business is complete

shares suspended from quotation following the appointment of Tony Sims and Neil Singleton of SimsPartners as Receivers and Managers of the Company - this never augurs well for shareholders but it is too early to speculate on the outcomes

we understand that on or about this date the company consolidated its shares 1 for 25

name changed from Tele2000 Limited