Ann: Regulatory Update , page-12

As is so often the case, the markets and shareholders have got it wrong. While I became a shareholder for the first time this morning, I am not in this group.

Lets take a step back for a moment. If the result a few months ago was: "response 210 days, with corresponding CR", would the result have been 44% downturn? Maybe, but I very much doubt it. The smashing this morning is due to the series of events and is being overdone. The negativity around mngt respons. is also weighing on ppls mind. In reality it has nothing to do with them. This is regulatory risk at its finest.

The astute are going to make some money today.