Ann: Launch of American Depository Receipts, page-60

that’s the way I see it FF. Although I have very limited knowledge compared to you, and am quite new to investing.

I take it that there will possibly be a demand increase through overseas markets if the institutions take to BRN through ADR’s, but supply will remain the same causing an increase in buying pressure and hopefully a gradual lift in SP.

the way I take it is New York Bank Mellon is basically a holding station of actual ASX shares which will be sold in the US as ADR’s so basically it will effect ASX demand and supply depending on the institutions moves? Is that a fair understanding or am I missing something?