Message from the Executive Chairman

I am very pleased with the result for 1HY07.

The organic growth the Company is experiencing is testimony to the quality and level of service offered by Wellcom in this market. The securing of API (Australian Pharmaceutical Industries) and the Dick Smith Electronics accounts will add further growth to our business. Turnover for the quarter was $8.7M, reflecting an EBIT growth in excess of 10% from the first quarter FY05.I believe our shareholders will be pleased with the performance of Wellcom and can see the laying of the foundations for the transition from a very successful private company to a very successful public corporation moving forward.

Wayne Sidwell
Executive Chairman