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p fogarty has stated the auditors have said this.3 30/9/03--at 6pm ERG Limited 2003 Audited Financial Report We attach the audited financial report for the year ended 30 June 2003. Our auditors have expressed an unqualified audit opinion reflecting the significant improvement in the financial position of the Group over the last 12 months. This turnaround has been primarily driven by the Group’s successful capital restructure, the sale of its subsidiary Proton World and the restructure of contracts for the Rome and Lazio project.