Ann: Market Update , page-42

Orbis can't buy much more. There nearly at 20%. I wonder who was buying today.

The only sub holders are Orbis and Maple Brown Abbott. Both have increased their shareholdings this year. So the big sellers are just cleaning their books of the whole sorry saga of Sigma.

Orbis are expecting div's over the next year or so greater than the current sp. Once these divs are paid from cash received from sale of pharmaceutical division, refinancings and bringing in that $350 million of receivables into line then what is left is a solid distribution business earning a reliable $40 to $50 million a year. That business has to be worth 35 to 40 cents a share in itself.