ADSLOT LTD. — AGM Information 2007

Sep 26, 2007

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ABN 70 001 287 510 Level 3, 95 Coventry Street South Melbourne Vic 3205 Australia Phone + 61 3 8695 9199 Fax + 61 3 9696 0700

Ansearch General Meeting

Letter from Mr Terry Grigg

Melbourne: 27 September 2007

Ansearch Limited (ASX:ANH) advises that it is sending all shareholders the attached letter from Mr Terry Grigg addressing Resolution 3 in the Notice of General Meeting for the General Meeting to be held on Monday 22 October 2007.

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Jan Macpherson Company Secretary

For more information:

Robert Edge Jan Macpherson CEO, Ansearch Company Secretary Tel: +61 (0) 438 530 530 Tel: +61 (0) 419 940 558 Email: robert.edge@ansearchltd.com Email: jan.macpherson@ansearchltd.com

About Ansearch

The Ansearch group of companies generates revenue mainly by selling advertising space on a growing network of search engines, portals and popular websites. The Company originally provided this suite of products and services through its own search and directory websites, and has since extended its network and audience reach to include the distribution of advertising to third-party Australian, US and UK based search engines, websites and third party advertising networks.

With the recent acquisition of Webfirm (http://www.webfirm.com.au) and Searchworld (http://www.searchworld.com.au) the company can now provide the most 'complete' range of online media solutions to SME's.

Please visit http://www.ansearchltd.com for more details.

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ABN 70 001 287 510 Level 3, 95 Coventry Street South Melbourne Vic 3205 Australia Phone + 61 3 8695 9199 Fax + 61 3 9696 0700

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26th September 2007

OPEN LETTER IN RESPONSE FROM TERRY GRIGG – Ansearch Director .

As per the Notice sent to all Ansearch Shareholders a General Meeting has been called in response to a Notice under the Corporations Act from the past CEO and recently appointed and then resigned Director, Mr. Dean Jones of Whodeani Pty Ltd, calling for you to consider three resolutions.

I urge you to vote AGAINST ALL 3 RESOLUTIONS .

I request you to appraise and consider the following before casting your vote.

It has been asserted that as incumbent Directors, Mr Ridge and I have lacked positive and decisive leadership, with a laissez-faire attitude to decisions and their ramifications. We have both been on your Board since the inception of this business - nearly 3 years. I have always displayed a strong belief in Ansearch, and have seen it develop from a ’Start-Up’ to now a ‘growing and profitable’ business. Having the right team in place is of paramount importance. With the current team we are very confident in Ansearch’s exciting future and the opportunities which will be available to grow the online media business both in Australia and overseas.

For Dean Jones to make these incorrect, misleading and diversionary assertions is personally insulting and takes away from the true picture of tremendous achievements that are unfolding within Ansearch.

I have always been positive and supportive of Ansearch - even through some of the more challenging times, including tight cash-flow positions and new fund raising requirements, as shareholders interests have been the main criteria, along with maintaining the positive energy and moral of the staff. The words of the story that Dean Jones may use will not build the Company - rather it is actual and real performance that will increase shareholders’ wealth. The performance of Ansearch in its current structure needs to be your focus in voting AGAINST ALL 3 RESOLUTIONS .

I believe that a well structured Board must possess sufficiently varied skills reflecting the requirements essential to set policies and strategies for the diligent monitoring of the CEO and his Executive Management Team.

As Managing Director of my own business and a director on other Boards, my contribution, integrity, diligence and appropriate decision making has never previously been called into question. Those that I have been involved with would vouch that my leadership and decision making is well placed. I possess the financial background to represent fairly all stakeholders’ interests for growth of their investment, at the same time ensuring a supportive and goal setting environment for our valued employees.

I have decided to put myself in the hands of all shareholders rather than resign because of the overwhelming support received since the Notice of Meeting has been issued. Major Shareholders as well as smaller stakeholders have expressed their total support. It is also prudent to mention that members of Ansearch’s Executive Management Team have advised me verbally and all the Board in writing, that to approve these proposed

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Resolutions would not be in the best interest of all shareholders, and in fact would have a negative and destabilizing impact on both our employees and clients and subsequently on Ansearch. I have been informed that vital members of the team will not continue with Ansearch should these resolutions be approved. They further state that Ansearch has never been under better leadership. Glenn Ridge as Chairman and Robert Edge as CEO, have initiated a smoothly functioning structure with transparency and accountability evidenced by the financial performance of the business at this time .We are confident that the current model and Team that is in place will provide further future sustainable growth.

Adherence to Corporate Governance Principles has been a major issue which I have pursued both in and out of Board meetings. Having a vision alone does not translate into a compliant and a financially viable entity. Employing and maintaining a structured Team is absolutely vital to achieving a sustainable growing business. The current Team meets these criteria.

Under our present Non Executive CEO and Executive Management Team structure, Ansearch has developed a measurable, transparent and accountable Business Plan and Budget - the latter stringently monitored via monthly reporting from all sections of our online media business. The Board and CEO stress the importance of taking ownership of these processes. Our Team vision is united and we are working harmoniously to achieve our collective goals for Ansearch.

The Board supported Dean Jones’s requested transition from CEO / Director to Consultant for the USA market. A difference occurred recently when he proposed that Ansearch be listed in the USA. Your Board decided that this was not in the best interest of the Company at this stage .We decided to open a USA branch office engaging Dean Jones on a Consultancy contract, and employing an Ansearch New York office sales representative. This was a starting point to evaluate potential opportunities, rather that giving away Ansearch Shareholders’ equity at substantial discount.

This General Meeting is costly, time consuming and a negative distraction to our Employees, Clients and Shareholders given that our A.G.M will be held shortly. I sincerely hope that this letter gives you an understanding of the reason why both Glenn and I wish to continue as your representatives on the Board and l trust that my continuing position on the Board will receive your overwhelming support.

As Chairman, Glenn Ridge will convey his written thoughts to you shortly and we look forward to receiving your support to vote AGAINST ALL 3 RESOLUTIONS and to allow the Company to continue in the current successful structure.

Yours sincerely Terry Grigg

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