t card, page-20

Yes! Never a dull moment.

I agree more news will come out soon!

1. An announcement by the Government. The SMH reports last Thursday were just an introduction to 'more news to come'. The NSW Government knows that if they were to cancel the ERG project and go to tender again, a new project will cost between $550-$700M. Almost double the amount for the contract awarded to ERG. I think the biggest issue for the NSW governement at the moment is the Railway Unions.

2. More news is also reported by drivers. Drivers report more ERG installations in various stations & buses this weekend.

3. The ERG Annual Report will be sent out on 25 October and we'll know exactly what extension Saville proposes for his options. Already one lot of his options expired at the end of September. Saville didn't exercise. Not that he needed that. He needs the $238M options tat expite end of December and will give him another 17% of the company. That will remove some uncertainty.

4. A new ERG CEO will be announced probably around the time the AGM will be held.

And much more....