Disclosure of directors' interest, page-10

And I trust that Gus has taken professional advice regarding his "change has been implemented largely for tax optimisation reasons" and "I intend to take up my full entitlement" (as per his covering letter to the ASX) as there is in the Taxation legislation what is called 'wash sales'.

Wash sales occur where shares are disposed of to generate a capital loss and the shares are then repurchased. The Tax Office can deny the deduction for a loss claimed in these circumstances.

Now, the shares in question have been sold on the market, but the repurchasing has not taken place by purchase in the market. He also has timing differences as to when the share sales took place.

Hopefully, this gets around any difficulties that might arise. CHRISG points out that we all have to "eat occasionally". Maybe its a case of servicing the mortgage on a prime piece of Sydney real estate.

MM