Ann: Chairman's Address to Shareholders, page-5

takeprofits - not sure what half year release embarrassment you are referring. There was nothing wrong with MGM's half year release last year. They explained things extremely well and reality is that it was a strong performance. Minor timing differences on revenues for a business that has very high gross profits margins can appear to have an impact, however in reality don't change the value of the business at all.

The only embarrassment should be to those people who spend less than 5 minutes looking at a results announcement without trying to understand it. Spending 5 minutes actually reading the announcements would enable people to understand the business.

This business is so cheap it isn't funny. Effectively trading on 6x cash EBITDA. Given nature of revenues this is cheap.

Regards
Marv

DISC: I hold plenty.