NEGOTIATIONS BREAK DOWN IN THE UK

Aug 13, 2010

As reported earlier this week AUSTRALIAN BLOODSTOCK had negotiated and signed a letter of intent to purchase the UK bred colt Contract Caterer. We officially withdrew the offer this morning as the vendors conditions became increasingly unreasonable. As previously stated we will secure the right horse on our terms and refuse to enter into a 'dutch auction' as we believe was transpiring in the last 48 hours. Thank you to those who had committed to racing this horse with us (85% subsribed), and as indicated will be given first right of refusal as we to our due diligence on a replacement horse in the coming weeks.

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