Update: October 2007.

The following email has been sent to competition winners who signed up for shares:

Congratulations on completing the claim process for your shares in Bladez Toyz, the winner of the ITV1 series Tycoon. The company is currently in the process of completing the legal conversion to a PLC and it is anticipated that this will be finalised in the next few weeks. When this process is complete the shares you have won will be allocated to your account with The Share Centre.

As you are probably aware, Bladez Toyz was established earlier this year to take part in the television show Tycoon. Iain Morgan is the Managing Director of the business and he has worked tirelessly during and since the TV show to establish Bladez Toyz in the UK. Any newly formed business faces hurdles and challenges but with the resources at his disposal, Iain is doing a great job in overcoming the challenges put in front of him, and we are confident that he is developing a strong business.

It was hoped that the Bladez Toyz shares would be listed at some point on the Sharemark market, thus allowing you to trade your shares and keep up-to-date with the latest price and news. Joining a stock market is a big leap for any company and if the move is made too early, it can have a detrimental effect on the company's long term prospects. Bearing this in mind, and having consulted with advisors, it has been decided that it is not yet the appropriate time for Bladez Toyz to join a stock market. This decision will give Iain more time to focus on developing the business and growing sales rather than having to focus on the additional responsibilities and time commitments admission to a market would involve.

This decision to delay the listing on Sharemark in no way affects your right to the beneficial share you have won in Bladez Toyz and the intention of the company is to list the shares on Sharemark in the future at the appropriate time

Kind regards

The Tycoon Team

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