market update, page-2

On the contrary, I think it is a great announcement. Assuming the preferred vendor is an Australian major bank and the licence fees would be $6 million and the Implementation Fees are $5.26 million what will be the fees for the recently announced MAN contract and the unnamed American Bank. These fees could easily be well in excess of the Australian Bank.

ITE has a good record of winning contracts in the international arena against far bigger and better funded companies.

ITE is obviously being well supported by UXC. Any takeover (I don't know why this is also taking so long) would have to be well in excess of the 14 cent rights issue price.