Ann: Iberdrola Bidder's Statement, page-4

Thanks Gozza.

One detail, the WF near Orange NSW is Flyers Creek, not Cherry Tree.

My holding is not for sale at 86c. I go into minorities if the Iberdrola bid takes the day.

The two initial bids have been consistently and energetically over-bid by the market with considerable depth. Either a higher bid emerges or IFN retains its independence.

Sit.

Ash