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| From: | "Gary Rountree" <gary.rountree@xtra.co.nz> | 
| Date: | Tue, 28 Nov 2000 19:52:08 +1300 | 
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 After paying the $4.75 the price should immediately jump to 
$15.55, however at this level the price will still be around  $2.46 or 16% below 
the theoretical value of $18.01 based on the Australian head share price. 
Perhaps the discount will narrow once the second instalment has been 
paid. 
Regards 
Gary 
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