brokers, page-38

re: acamas the trojan Pacey,

I will say again and again I have not been trying to influence anybody on this board. I have put my views openly and honestly for debate by all including yourself. As for commercial gain I was into HDR for the long run and was losing money until the takeover came along and I have broken even. This must be the third or fourth time I have said this.

You must do whatever you consider correct. But I feel that at the end of the day your efforts will come to nothing. All I have attempted to do is debate the subject of HDR's future and when in doubt have sort clarification from this board. I came on to this board initially because I saw the writing on the wall and felt that you people would be nearer to the truth than myself in England

If that is wrong then I have done it in all innocience. I believe you are being very heavy handed with a fellow investor

regards

Acamas