Ann: Response to letter to Ardent shareholders, page-29

Choosing to reply to my one line post but ignore my previous post seems strange, anyway. ALG has been my best holding in last few years but I’m also a regular visitor and have concerns with its current state and direction. When some overseas parks spend more than than ALG’s market cap on a single ride there’s massive capital needed to bring it back to a current international theme park standard. I have full confidence that Greg is the man to do it but I also wonder where the moneys going to come from to take it to the next level or at least a higher standard than currently is. Are you going to lose money at its current MK, no I don’t think so. Is there upside to come, yeah highly likely but unless Greg gets the capital required to spend and expand it’s going to underperform to what it could be. Talk of a dividend at this early stage would not be productive to ALG and what they need going forward.