Reestablishment of Fenway Resources Ltd. shareholder stock trading privileges is of paramount importance to the Company's plans to complete the Philippine cement project fundings.

Many steps are required to complete the process. Fenway's Annual Audited Statement to August 31, 1998 has recently been completed by Moen and Company of Vancouver and, it is being sent to the Company's USA auditor for restatement in appropriate USA auditing terms. Subsequently, an audit of the combined assets and liabilities of Fenway International Inc. showing the effect of the acquisition of the assets and liabilities of Fenway Resources Ltd. will be completed. The process is underway with completion anticipated early in 1999. The consolidated Fenway International Inc. Financial Statements are then to be included as part of a Regulatory filing to register the company as a "Reporting Company" for Regulatory purposes. Dealing internationally it is important for Fenway to be transparent in its activities and report to USA SEC Regulatory Authorities.

The further significance of gaining Reporting status is that Fenway International Inc. shares held by Fenway Resources Ltd. are subject to a one-year hold before they can be traded. Registration as a Reporting company will allow these shares to be removed from the regulatory holding period

Coincident with progress in the USA legal and accounting procedures Fenway directors have been holding meetings in the Philippines and Europe to effect construction loans, acquire export credit and obtain equity investment for both the Palawan and Negros Oriental cement projects. Accordingly, achieving Reporting status and a full listing on the New York NASDAQ stock exchange gains in importance and is being addressed by management.

The change of domicile to Delaware is an accomplished feat, as in the agreement between Fenway Resources Ltd. and Nevada/Utah Gold Inc. for the sale and acquisition of the assets and liabilities of Fenway to Nevada/Utah. The subsequent name change of Nevada/Utah to Fenway International Inc. and the appointment of the Directors of Fenway Resources Ltd. to the Board of Fenway International Inc. have also been completed.

Fenway International Inc. [(888) 441-1132)] is the lead proponent in the development of two large portland cement plants in the Philippines. Fenway currently holds a 90% equity interest in Palcan Cement Corporation, a proposed 2.5 million tonne per year cement plant to be constructed at Scott Point, Municipality of Sofronio Espaņola, Palawan, Philippines.