  Overseas & General Limited was incorporated
in the Isle of Man on 26 January 1987 under the Companies Acts of 1931 to 1993. It
commenced operations on 21 May 1987 when the Company was floated on the Australian Stock
Exchange. At that time, the Company's primary business was gold mining in Ecuador, where
it also explored for other minerals, and for energy resources.  1994/95 saw the Company progressively transforming itself away from
a narrow Ecuadorian mining and exploration profile to a timber based profile which now
represents the Company's core activity. On 28 May 1994, the Company acquired 100 per cent
stake in Cakara Alam (PNG) Pty Ltd which is involved in timber logging activities and
marketing of timber. As part of its strategy to complement its existing timber logging
activities in PNG, the Company acquired a 65 per cent stake in Fenning Pacific Limited
Group which specialises in saw milling and kiln drying of quality hardwood from
Concessions and State forests located in New South Wales, Australia and Fiji in April,
1995.
 To continue with the repositioning of the Group's profile to a more
broad based industrial profile, the Company has acquired a 25 per cent equity stake in
Vietnam Industrial Investments Limited which has been licensed to build and operate a
180,000 t.p.a. steel rolling mill in Vietnam. The Company has also divested its
restructured Ecuadorian gold mining assets which has been successfully listed on the
Vancouver Stock Exchange in 1996 through Odin Mining & Exploration Limited.
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