INTERVIEW WITH MR. MARK SMYTH, CHIEF EXECUTIVE OFFICER OF CITIVIEW CORPORATION LIMITED (CVI)

“Revision of Strategy”

http://www.brr.com.au/event/52120

TUESDAY, OCTOBER 7, 2008, 10:30 AM.

            BRR    You’re listening to Boardroom Radio. Today we’ve got Mark Smyth, CEO of CitiView Corporation on the line.

10

                        How you are going there Mark?

            CVI      (inaudible).

            BRR    Can you give us snapshot of the key points in your Friday announcement

15                    please?

            CVI      Yes, we gained through extraordinary times. The banks collapsing and financial institution defaulting everywhere. None of our bankers are actually saying that they cannot meet their commitment. However, the problem is pinning them down as to when they can perform. We cannot (inaudible)

20                    for financiers to get their act in order, we have to be proactive. For which reason we have decided that to cut out a costly offshore oil program, it takes too long to get an adequate payback. I know that many of our shareholders are planning for Angolan offshore oil production but they are talking hundreds of millions of dollar which are no longer around. I’m actually quite reluctant

25                    about this as other oil opportunities will pop up in the future. As you know there are many fish in the big blue sea.

            BRR    There is a very big (inaudible). Perhaps the second question, how does it credit that CitiView get from Pensador’s shares benefit CitiView?

30        CVI      The Pensador credit gives CitiView the opportunity to do something, were I’ve talked about, eventually to (inaudible) to becoming a major share holder of Canzar, the joint holder of the Luachisse and Nhefo Diamond Field. These are very valuable areas containing both alluvial and kimberlites. I always wanted CitiView to get a key position in Canzar. I couldn’t afford it in the

35                    past. However, one person’s misfortune is another person’s opportunity. The failure of Pensador to perform on time has given CitiView the breakthrough to become a key player in Canzar as just much to expect.

            BRR    We’ll be watching this space most definitely indeed. So, why are you

40                    focusing on Nhefo instead of Luachisse?

            CVI      Before (inaudible). We now appreciate that we had totally underestimated what have been going on at Nhefo. Our problem was language. The management of Luachisse speak perfect English were the Nhefo management didn’t know English at all. We’ve been stunned by the fieldwork

45                    at Nhefo…they really are ready to crank up operation. We just got to get a treatment plant on site at Nhefo as soon as possible. Generating cash flow must be our first priority.

            BRR    So, if any interested listeners have any question for Mr. Mark Smyth, email him to brr@brr.com.au. Once again Chief Executive Officer of CitiView Corporation, Mr. Mark Smyth on the phone.

5                      Thank you very much Mark.

INTERVIEW CONCLUDED

Contact brr@brr.com.au for more information

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