Ann: Change of Director's Interest Notice , page-3

Sustained selling pressure. Appears some funds are exiting. As soon as SP gets above 2.50 sellers appear in numbers. I like TTN but willing to be patient. Sentiment of gloom in MS sector spreading across entire index now. 5,000 not improbable. I'm not willing to pay 2.40 but a LT hold for current holders imo. But don't expect last yrs margins. Competition is fierce. New acquistion Hofco expected to lose money in 1HFY14 before improving in 2H.