Ann: ACTIVITY UPDATE SENT TO SHAREHOLDERS , page-2

I imagine this activity update will be a great disappointment to shareholders who cling to yearly and half yearly figures although greatly encouraging to those with a longer term perspective.

As Relaxan told us earlier, much revenue expected for the final quarter of FY12 will now begin in the first quarter of FY13. This is immaterial in my view as long as the contracts are being won.

Both business units appear in excellent shape and it appears from the recent contract wins that they're heading for a great FY 2013.