DIRECTORS’ REPORT AND CONTROLLED ENTITIES CABCHARGE AUSTRALIA LIMITED  ABN 99 001 958 390 11 Mr Ian Alexander Armstrong  (59 years)  Non Executive Director Future Developments Environmental Issues Mr Garry Frederick Bradd  (55 years)  Non Executive Director Information on Directors Mr Reginald Lionel Kermode AM MBE (74 years) Executive Chairman and CEO Significant Changes in the State of Affairs Post Balance Date Events Mr Ewaz Barukh  (53 years)  Executive CFO Director since 17 July 2000 and Chairman of the Audit Committee. Mr Armstrong is a Fellow of the Institute of Chartered Accountants in Australia. He was a partner with PricewaterhouseCoopers for 23 years of which 15 years were in the field of corporate finance. Mr Armstrong retired from PricewaterhouseCoopers on 31 December 2000. 83,333 fully paid Ordinary Shares held. 166,667 Options pursuant to Executive Share Option  Scheme. The Directors are of the opinion that the new financial year will be a period of continued growth. Other than the information disclosed in the review of operations or notes to the financial statements, further information as to the likely developments in the operations of the economic entity and the expected results of those operations in subsequent years has not been included in this report because the Directors believe, on reasonable grounds, that to include such information would be likely to result in unreasonable prejudice to the economic entity. The economic entity’s operations are not regulated by any particular and significant environmental regulations under a law of the Commonwealth or of a State or Territory. Director since 15 December 1989 and member of the Audit Committee. Mr Bradd is Executive Chairman and CEO of Black Cabs Combined Limited. He is a Member of the Victorian Taxi Association Council, Vice President of the Australian Taxi Industry Association and Fellow of the Australian Institute of Company Directors.  No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the economic entity, the results of those operations, or the state of affairs of the economic entity in subsequent financial years, other than: On 28 June 2001, the Company advised the Australian Stock Exchange that it was in preliminary discussions with Combined Communications Network Limited (“CCN”) concerning a potential merger. As at 11 September 2001 these discussions are continuing.* There were no significant changes in the state of affairs of the economic entity during the year under review.  Founder of Cabcharge in 1976, Chairman, Managing Director and Chief Executive Officer since 27 July 1980 and member of the Investment Committee. Mr Kermode is a Director of Cabcharge Asia Pte Limited, Non executive Chairman of Combined Communications Network Limited, Director of Computer Cab plc, London and Director of CityFleet (UK) Pte Ltd. Mr Kermode is the immediate past President of the New South Wales Taxi Council and retired Director of the NSW Taxi Industry Association. He is  a Fellow of The Australian Institute of Company Directors.  600,000 Fully Paid Ordinary Shares held. 1,333,334 Options pursuant to Executive Share Option Scheme. Relevant interests- Relevant interests- Relevant interests- 89,333 Fully Paid Ordinary Shares held by Bradd Superannuation Fund. 216,000 Fully Paid Ordinary Shares held by Eastmoor Investments Pty Limited as trustee for Eastmoor Investments Unit Trust – 50% of units held by Bradd Nominees. Mr Bradd is Director of Eastmoor Investments Pty Limited and Director and Shareholder of Bradd Nominees Pty Ltd. 166,667 Options pursuant to Executive Share Option Scheme. 338,663 Fully Paid Ordinary Shares held. 666,667 Options pursuant to Executive Share Option Scheme. Director since 19 November 1998 and member of the Investment Committee. Mr Barukh is a Director of other Cabcharge Group entities. He has been Chief Financial Officer of the Company since 1985, and has significant experience in the fields of funds management, technology and the Australian Taxi Industry. Mr Barukh  is a Bachelor of Economics and is an Associate of the Australian Institute of Company Directors. Relevant interests- * On 13 September 2001, the Company advised the Australian Stock Exchange of its intention to make a takeover offer for all shares in CCN that it does not already own.