and further:"Potential EPS conversion: BBI is less confident...

and further:

"Potential EPS conversion: BBI is less confident about the feasibility of issuing Equivalent Securities (which would effectively replicate the existing EPS) in order to avoid EPS conversion upon a change of control event with respect to the BNB owned BBI responsible entity. BNB maintaining ownership of the responsible entity through to 2012 (the year of the first reset date under the EPS) is expected to prevent this event occurring under the EPS terms. However, there is the possibility that the BNB liquidator may sell the responsible entity out of the BNB group, triggering such an event. The possibility of massive dilution from conversion of the EPS into ordinary BBI units has certainly increased with the liquidation of BNB.

�� Asset sales: There was no new news on the sales processes for PD Ports and DBCT. Management is "hopeful" that binding bids will be received in the next 1-2
months, but are not confident of this timing given market conditions."