Ann: Release re Share Transaction, page-47

Thanks for you opinion Joe. I never discount anything in the market. I'll do some research into your view.

I can't find if Watermark are long or short AGI. I would assume their speil regarding the deal not being beneficial to minority holders indicates they are long. I can't find anything in their quarterly or yearly. They might have taken a position recently.

Watermark took it to Danny regarding their issues in the conference call He responded by saying he has a differing opinion. Exactly what you would expect him to say.

Interestingly they didn't infer they see any value in this and didn't ask any question regarding company performance. The other 2 calls from insto investors were directed at aspects of the results, no mention of the share transaction.