todays asx announcement-my view, page-5

Armalap - The depreciated value of AH Plant Hire equipment at 30 June 2004 as stated in the annual report is $60.199m. You cite a value of $30m but I don't know if thats just plucked out of the air or you have some other source of information.

You are correct when you talk about Federal Govt road projects ready to go and NLX CEO said exactly the same thing at this weeks AGM. What he said was that AH Plant Hire had positioned itself in the eastern states to focus on major government road project spending in the $11.3 billion Austlink plan. He went on to say that the next two or three years were going to be very good years for AH Plant Hire which in 2004 was back in profit after loss's and right downs in 2003.

We all know about the difficulties that Nylex has experienced in the last four years but it has survived and this year will return to profit. Theres a lot going on at Nylex which doesn't get much publicity but my prediction is that within 12 to 18 months you will see its stock price up around 80 to 100 cents.