$62 whenever it happens - maybe maybe not, page-146

I understand that focusing on Customer, Ethics and Culture goes hand in handwith long term Shareholder Value. I’m looking at the financial costs ofdedicating more resources into thorough internal audits, corporateresponsibility initiatives and brand engagement and development programs, toshareholders.

$100m invested into developing the CBA brand is just an expense on theincome statement. The fruit of that investment may be greater sales revenue in thecoming years, however, that can’t be reliably measured. The $100m investment won’tbe reflected via the SP or an increase in the book value.

Due to the negative impact these scandals have had on CBA’s reputation, Ibelieve additional resources should be directed to reinforce our brand. Note, Isay reinforce and not strengthen, as the resources will assist the recovery ofour corporate image rather than deliver us a greater market share.

At the end of the day, the funds directed to the appropriate divisions will bea pay cut to shareholders.