agm, page-21

Although it won't make for palatable reading for UMC holders, I just through I'd point out that Giralia (GIR) have included a small piece on IO takeover valuations in their AGM presentation, released to the market yesterday.

Now there might be good reason for it, but, as you would probably guess, UMC didn't fare to well in the comparison. You may well be aware of these comparative values already....if so, please ignore.

The best to you all, in any case.

Disc: holding GIR.