Ann: Operational Update, page-135

kcl - no intention in my reference to Steve running out of tine to forming a possie at the AGM.

I am referring to the results suggesting that Steve has run his course - we now need a different approach. Again in the update we had a reference to a different approach.

Put simply the standard of deals and the frequency will not keep the lights on. I think Steve has actually done a pretty good job given the hand he was delt and no doubt some future deals will have his hallmark on them but I don't want it to end up like the John Howard and Peter Costello sarga where the encumbant clearly out stayed his welcome to the detriment of all.

If I could be blunt .... Steve has under his leadership seen the share price plumit and the number of shares soar. They are the results by which all CEO's must at some point answer to the shareholders on. One can hide behind the curtain of "we can't control the market" for only so long.

I want to see more fresh faces, not just Hopper because he cannot do it on his own.

Clyde