ce mark update, page-17

Ted - I invest in TIS from 3 separate entities .. Personal Account, SMSF & Family Trust.

For the SMSF & Family trust - I had to wait for 1st July .. for absolute benefit reasons more than liquidity ones. Having said that, I would have been prepared to even buy prior to 30th June if I was certain that we'd get the CE approval by then. It was my best guess that we wouldnt and hence I waited. But that was a punt ! My best guess now is that we will get approval by 20th of July at the latest.

There is only so much management can put in an announcement - its not because they want to hide the truth, but more to do with things which are "beyond their control". Its a bit like using a best guess estimate - each and every company does that to provide guidance, cash flow estimates, product launches, etc etc.

The important change happening with TIS now is the management is more proactive and utilising the wait-period much better than anytime in the past. I believe this is because of the expertise bought in by Quintilles.

BTW - picked up another 25K at 45c. And have a few more orders lined up.