Ann: Updated Appendix 4E-EHE.AX, page-106

The Government needs to provide for aged care of the community and are trying to adjust the dials

but ultimately if they want the private sector to be involved then providers need to make money.

As for Peter leaving , I am not sure but maybe he just got bored and wanted a change.

The change of the business to organic growth would seem prudent as they increased their bank

facilty by $150 m recently to partially fund the Kennedy aquisition. You don't want them to take on

more debt at this juncture until they expand what they have. ??