referring ref to the "ref", page-4

Orbis are making some big conviction investments in this market.

Buying BIG into REF and also another company I hold at the moment, NBS. The market is down on both but ORbis have obviously done their homework and prepared to hold for a little while. I maintain REF has an excellent growth profile as soon as the consumer market returns to normal in europe and there is every indication it is almost there with german and france exiting recessions and britain almost there.

Spain and IRelans should kick in just as the rest of europe is coming out of this shocking economic slump.

REF may go much lower still imo.