Ann: Update - Victorian Coldry Project and Capita, page-36

re: Ann: Update - Victorian Coldry Project an... I hope so.

I may has misread the shareholding movements. I looked at the top 40 and then the initial directors notice and thought he had sold down his holding but it is also possible they were transfered to the super fund.

Either way there is an large amount of faith that needs to be re-established with shareholders I suspect. I am a very recent one and I feel betrayed already by cleverly worded but desperate management/board announcements.

I will remember the names of the deserting directors as there is only one thing I despise more than incompetence and that is people who don't face up to poor decisions - these guys appear to have run off without so much as an acknowledgement of their abject failure. You don't leave a company in the financial situation ESI is in.

I have no problem losing money on trades as long as it's fair and these guys played us with the language of the Tincom announcements.