Ann: Change in substantial holding, page-5

Hi I dont mind you looking more closely at my transactions. I am prepared to disclose certain facts that really an Asic search will pick-up anyway. Those are not my assets but corporate except for the family trust and Superfund. I am overweight the stock in that capacity but the two companies are probably not - well the smaller one certainly isn't. Overall you will note the smaller buying in one company and that is because it hits its limit and then as more money is invested by the parties it climbs again as and when funds are available.

Most of the holdings are not my asset so really if you divided the holding by the number of investors we would probably be little more than the larger holders of this stock individually. Its because I am a director that we get put together.

The dip in June really irritated me as it affected the out-performance versus the index and I had lots of explaining to do. I have learnt from that mistake and now we don't value it at market price.

I personally think that the business has potential but we need to hit two good halves to see the real potential.