===What's up in the OLY deal?===(based on TTY announcement)1....

===What's up in the OLY deal?===
(based on TTY announcement)
1. Territory acquired its 73% interest in Olympia during 2007 and early 2008 and through an unsuccessful onmarket takeover bid for all of the shares in Olympia in March 2008.

2. In July 2008, it acquired a further 71 million shares by way of a rights issue pursuant to Territory’s previous contractual obligations under a sub-underwriting agreement dated 27 May 2008.

2.1> This was part of a previous diversification strategy involving investments in other commodities outside of the Company’s core iron ore operations.

===So far 11million loss in paper and could be more===
1. Upon consolidation Territory’s interest and share of Olympia’s assets amounted to A$16.5 million and after the impairments to date Territory expects to incur a non-cash, accounting loss of approximately A$11 million under the transaction, the exact amount of which will be determined at the date of settlement of the transaction.

2. As settlement is to occur in July 2009 the loss will be expensed against operating profit during the 2010 financial year.

===TTY paid for OLY to be survival in this bloody crisis===