Hi all,Patch International have put out an annoucement to their...

Hi all,

Patch International have put out an annoucement to their shareholders -

"Patch International is one of the largest shareholders in Pharmaxis Pharmaceuticals Pty,
an Australian company. PAII has seen this investment grow to a current value
of approximately $10 million USD on a non-discounted basis. Given the future
of our investment in Pharmaxis Pharmaceuticals Pty., which trades on the
Australian Stock Exchange, we believe this investment could grow to
$20-30 million US by the end of 2005. This will provide a substantial base
for the company to grow from and potentially increase shareholder value
dramatically."

http://www.prnewswire.com/cgi-bin/stories....03072400&EDATE=