Ann: Change of Director's Interest Notice - B Elton, page-14

I'm rather upbeat about the stock and agree with your assessment it is too low. We'll turnover around $130 million revenue so its worth only a couple of months turnover which is very low. For your info they wrote off $30 odd mil of goodwill prior to the large drop in share price. We have aqura and Elton Consulting making good profits, and despite the doom and gloom, when we had the surveying margins wrong we still showed a net profit albeit a low $200,000. I expect a much better half for several reasons previously posted. I also expect continuation of the dividend, so if this happens, (and we'll know in July/August then the share price is set to go back into the teens if not the 20s. The telling thing will be a correction of the survey margins which the company has stated it needs to do.