internalisation = ilf will not be sold, page-4

The only thing I dont think will happen is repayment of any funds. I havbe a very high regard for Orbis and look very closely at what they invest in but I think that this is amarket segment that is going to have huge growth opportunities and to retain current management I would much rather have more development of assets in Australia nad NZ.

I think Mr Owen would, for his abilities, much rather have around $150m in play than $100m.

I am in this one for a long ride if possible. As long as Sir Ron does not get too involved.