analyst call, page-3

hi guys

I'm still listening to the webcast. So far the only references to TFS have been management saying several times that the sale of TFS has gone extremely well.

I emailed TZL yesterday and the response this morning was that Textron's presentation would be their standard analyst presentation with nothing expected on the TFS sale. They said also that the process Textron are undertaking in relation to TFS is progressing without in TZL's opinion developments that need to be communicated to the markets. They indicated that they can safely say that from TZL's perspective no annuncement is required at this point in time.

Sounds like a finalisation of the sale and TZL's involvement is a little way off as yet.

H