Ann: Daily share buy-back notice - Appendix 3E, page-39

Rarely could I agree with Herr Fräulein but my firm has picked up a great number of very good people from Cardno. I'm told they can't keep staff in NSW with more than 30% turnover. Thats totally swapping out your people every 3 years, which must be hugely damaging. Lets face it, in people businesses you only have one type of asset. The good news is that Adolf here (apologies) is on the money. Its been reported that Atkins etc are intetested. Their (Catdno) US businesses is a basket case, their International business would make more money selling sausages at Bunnings on weekends but they have a solid geotech and engineering business. Australian services businesses need to shift their focus to major projects and Asia. I believe this is the case with this crew. So much easier if you get acquired by a sister Engineering company with a complentary foot print (as opposed to bankers).