Hi everybody,Below are key extracts from various presentations...

Hi everybody,

Below are key extracts from various presentations made at the Redflex agm this morning.I am now very confident about the future of Redflex

The full presentation is available by clicking on this link http://www.asx.com.au/asxpdf/20031125/pdf/3jwfkpczxkw4y.pdf
Note..These extracts are not in any particular order
I am pleased to advise that the outlook for the current financial year is generally a very positive one. USA revenues will for the first time this month exceed US $1 million, as mentioned previously. This is more than double the revenues year on year. The company has had a profitable first quarter and is currently significantly in front of annual budget projections. The expansion within our traffic division is such that current levels of profitability are expected to increase substantially over the balance of the financial year. A number of factors make it inappropriate to confidently provide a precise profit projection for the 2003/2004 financial year. We are, however, confident that the year will provide a substantial profit for the company at levels in excess of any previously experienced. We are similarly confident that the 2004 financial year will provide a sound platform for a bright future.

Also, in this month of November we expect to install and commission our 200th photo enforcement system in the USA. Together, these highlight that our growth model is not only achievable but is being exceeded.

Redflex Traffic Systems now has contracts with 30 cities in the United States, and contracted commitments in place that will underpin the next 100% growth phase. We have nearly doubled the installed base since the same time last year, and we have the commitments in place to double the base again.

However, it is worth noting that our first quarter’s result is ahead of our internal budget in profit terms, that we have 100% growth in the USA underpinned by committed contracts, and that we expect the first half to be profitable, with the full year delivering a much more substantial profit result.

The Traffic Division has by any standards had a great year. In recent times there has been much community and political controversy about traffic cameras generally and in particular the performance of various speed cameras around Melbourne. I reiterate our recent ASX release that NONE of the malfunctioning cameras that have attracted such publicity are Redflex products. They are all manufactured by Poltech International, a long standing competitor of ours which is currently in administration.

I believe this will be the year you, the shareholders, have been looking forward to. We will be doing all in our power to meet your expectations.