Safeplus International Holdings Ltd. (ACAI)

[Jagman]

Number of shareholders went down from last year's 10K? That's hard to believe unless profit taking lost some.

As of February 29, 2004, we had outstanding 65,945,011 shares of our common stock which were held by approximately 360 stockholders of record.

As of February 28, 2005, we had outstanding 74,317,832 shares of our common stock which were held by approximately 325 stockholders of record.