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UIBI letter from CEO 7/2/04...

http://www.iceblast.net/chairman7_02_04.htm

Chairman's Letter - July 2, 2004

Letter from Rory Clarke, Chairman, CEO:

Dear Shareholders,

We have seen what I consider to be a disturbing influence on our stocks’ trading last week. I know it had an impact on investor confidence as I personally heard from many of you via email. As a shareholder and Manager, I was perplexed and taken aback by the decline in our share price after we had a press release on what I know is good news for the Company. The new prototype is an accumulation of many months hard work in design, build and testing.

The sudden and persistent decline on June 30th of our stock price on substantial volume (seven times daily average of last 30 days) came as a surprise to all, especially since the press release was positive news. I can say that we do not have any new, negative material events that we are aware of.

I have spoken at length to our recently appointed investor relations firm who strongly recommended that we immediately seek the removal of our stock from the Berlin Exchange, where recently, and without Board authorization, our stock has been listed. They are of the opinion that we could have been the subjected to “off shore” shorting activity.

While we have not updated our Chairman’s letter, we have been busy with business and have made strides in better positioning the company. We expect to release results of our activities over the coming weeks and months as events unfold and become firmer.

Our investor relations consultants firmly believe that the Berlin Exchange is a concern we have to deal with. They informed the Company that they have undertaken steps on behalf of their client base to assist in eliminating this stock manipulation. For additional information on this matter please contact Mr. Ron Garner directly at Equitilink: [e-mail]

Sincerely,

Rory Clarke.

Chairman CEO