Ann: Financial Update, page-33

In the quarterly the higher AUD was specifically pointed out. Average increased from 0.77 to 0.79... yet no mention of a fall in the AUD which now is running much larger than the increase during the March qtr.

The fall of the AUD has given considerable breathing space to us.

Also there were 1m put options at US 68 for 62%fe which would also assist. That assistance would be compounded by the lower AUD and the discounts stabilising or in actual fact coming in slightly.