Finally some decent news, page-13

Hi ppetro,

Fully diluted means having >243m shares on issue (not counting the Griffin capital raising).

eps of 9c = $21.9m profit, as close an extrapolation as one can get to the Company's ASX announcement on 12/09/02.

Simply put, those of us commenting on ATC are interpreting the available information, not bagging the Company.

In interpreting the information, some of us commenting also have in place quite extensive teclo based experience.

I do not, threfore, doubt ATC's ability to grow under the FNT acquisition scenario. I do, however, doubt the growth rate forecasts, the profit scenarios, and the underlying strength of the European to China /USA connection.

I am also happy to wait for ATC profit numbers which will eventually turn out to be a lot less than what ATC is currently advising the market.