Ann: Quarterly Operations Update , page-4

Website's definitely taken far too long - so hopefully it is very good.

I've haven't tried to check past announcements to see if right or wrong, however I suspect the 1000 machines is contracts - not necessarily installed. Maybe one of you knows? However, I agree that would like things to move fast but 4 months for another 250 odd machines should be achievable.

The comment about "banks in India appear to be taking a discipline approach to the global and domestic economic environment ... " is fairly vague. I interpret this that they have slowed investment in ATMs full stop - not just the outsourcing. The reality is that there is cost upfront, with the savings (staff - lower branch costs) coming over a period. As such my interpretation (rightly, or wrongly) is that the growth has slowed. Hence maybe why I also go the impression the 100+ sites with HDFC appears to be now based on 100 only. 150 or 200 might happen however over a longer time than the company hoped.

Anyway, a long winded way of saying "I agree". However annual revenue of say $9M (to March 2012) would be ok.

MJS