Ann: Appendix 4C - quarterly, page-22

McGrath is a completely different different model to IBuyNew. Also IBuyNew hasn't exhibited any of the problems that McGrath seemed to have had. I think you're comparison doesn't really make sense.

In the end the truth is in the numbers, on the one hand we have McGrath with continual profit downgrades and then we have IBN with its numbers. As I said in a previous post, IBNs numbers are going gangbusters and IBN still has contributions to come from Indo Pacific sales the property management business, the establishment of IBN Home Loans and IBN Real Estate as well as the arrangement with ISelect. Also people will also realise that there is major value in the online platform and technology that IBN has and is developing, the value in that alone could be worth anything.

MEA and IBN have very different trajectories and I'm more than happy to be in IBN.