italian guidelines, page-9

Hi eby,

Yes certainly been a bit disappointing in terms of Sp performance over the last few years, but for those interested in what CST is doing it has been an ideal time for one to research analyse and confirm that one's position in this stock regardless of the time of entry is worth having. The more I have analysed and read the more I am convinced I have done the right thing.

Easy to make excuses as well as no one including the company expected approval of their new test kit version IT to take as long as it did. CST very first approval was a matter of months, when IT came along they took 18 months to approve the improved version. In effect they are now about 18 months behind in their sales campaign. If one was trading this stock such delays would have no impact as one would simply cut and run and go elsewhere.

But in that time I have also learned that you will be almost dead wrong in your profit prediction of $6m for next year - it will be much closer to double that of $12m, thus I am content to hold.

cheers