Yesterday Graeme Norman at Nylex said $150m debt but Smith...

Yesterday Graeme Norman at Nylex said $150m debt but Smith Barney said $132m.

Today Graeme said that the $150m is from the end of June 2005 report.He won't say the current debt level since that would require an announcement,which he won't give.

Smith Barney must have done their own calculation of $132m debt for Nylex,and it is probably correct for now(ie. October 2005).

Smith Barney article said "† While the sale will create a large hole in operating earnings (30% out of EBIT for FY07E), the bottom line impact is likely to be much less because of the interest savings from cutting net debt from $132m to below $20m."