Ann: Quarterly Update and Appendix 4C, page-116

hi... i do not predict share price . What i was implying was that RAP was a very speculative product once upon a time...just as new mining stocks could be eg new gold mine, nickle mine, coal mine . until they start to make money..But with time and news and testing this product {RAP} has become less speculative ,so much so that soon [after CE Mark approval] we will be a commercial venture with a possible income stream ...which should increase with time..and further regulatory approvals , and new respiratory products available.Then a realistic price can be put on RAP..speculation now is still rife and i believe a lot is due to lack of news..My real point was that management to date have done a sterling job , but we are now on a new path which demands new thoughts..expertise etc..new blood.....my views only