tzl first order announcement out, page-9

US funds will probably not buy until the transfer occurs to the NASDAQ. This and all other POs will remain devoid of specific value for obvious reasons. However, the underwriters will know more or less what it is all worth in the short, medium and longer term. As to CS underwriter cost, the delist process lasts only 10 days and since only brain dead individuals will yield their shares to CS in that time while they stand in the market (or micro holders) the cost to them is irrelevant. Now for Karmann, Navistar, BAE and the others in the next weeks/months. IPO should be on target for about July or August. Congratulations to TZ management for a brilliant job. The QVT deal is worth a lot more than the current price and will cost them nothing much in the medium term compared with the value of providing supply security.