Glenn Barnes, Chairman of Baycorp Advantage (ASX:BCA) today announced that Chief Executive Officer Andrew Want had agreed to a one year renewal of his contract with Baycorp Advantage. Under the terms of the contract, this renewal decision takes effect from 1 July 2006. Mr. Want has agreed to stay with the Group until 30 June 2007 to assist the Company with a planned transition of leadership to a new CEO. Andrew Want had previously informed the Board that he wasn’t able to commit to a three year renewal of his contract. “The Chairman and I came to the conclusion that the best outcome for shareholders, for customers and staff was to start planning now for a managed transition” stated Andrew Want in a recent press release.  Source: BaycorpAdvantage October 6th, 2006

BIIA Newsletter October – 2006 Issue