nice of colin to prop up the shareprice!, page-13

Hi Dan,
Thanks for your evaluation and I value your opinion. I don't understand why the first half was so bad either. I agree that they will have to really pull something out of the hat to the end with an improved set of figures. But, I do believe that the second half will be a good deal better than the first and that next year if they keep a tighter grip on their outgoing, combined with improved margins on adsl and local calls with good growth across all products we will see a tidy net profit and hopefully a dividend.

Their adsl margins are set to improve by around 50% when there move customers over to the nextep DSLAMs.

I know the market is going to be very sceptical until they see the next set on financials, but I liked what I saw and I feel they are turning the corner. The 'vib' in whirlpool is alot better and adsl sales are growing very nicely. Yes I know the current adsl numbers are crap, but from now its about growth.

The SP might hang around these levels for a bit longer, but I think it will be heading up sooner than later now.

Cheers