++ data and comment ++ update, page-73

re: ++ agm--md's address ++ R,

Can we cut to the chase .Has LUM got any sales contracts which will be installed say in the next six months or are we still talking heads of agreements,letters of intent etc.Apart from the Pepsi sign in Moscow(installation?) and having scrutinised their 30/06/03 report Icannot see any firm contracts.

Whilst Iagree that LUM has a lot of upside in the long term,say 2/3 years,short term,say 12 months and on the basis of the above cash flow,excluding option and or share exercise, appears less than 500,000.00.

Please surprise me to the contrary.Ihold shares -10000-and will probably buy moreif share price drops.

Cheers.