costs, page-16

Nortiba - Now I am confused - You now seem to be saying that they have assets to be sold down - Your earlier post said that VPG only managed assets and skimmed income.

If they own assets to be sold down or to hold(which is my view of their financial statements), then this is a massively discounted stock that is a temporary victim to a poor world climate for property stocks.

IMO - Things are turning around for property holders. Worldwide interest rates are on the decline, credit and market injections by every able government in the world have occured, markets like the DOW have remained relatively stable since the 11% rise 10days ago, stocks like VPG can expect to return to at least 50% of December 2007 values by the end of the 3rd quarter of 08/09FY.

Sorry you got burnt by this stock - But IMO your view of the financials is very wrong.

No position held - But entering today.