Ann: Response to media speculation, page-14

Austin Engineering... interesting.

Having just scanned through its products and services, and this is way above my pay grade aka I don't know... but I wouldn't think they'd want to go for a business like Austin.

I mean I know that MND is expanding its SinoStruct fabrication business, and have done quite well expanding into the Americas within just a year. So I guess the engineering brainpower, workshops, experience ANG has would be beneficial.

But then MND bought Water Infrastructure, got the same goods but further expand its geographies and diversify into civil/utilities work... all for some $10M. ANG is priced at some $122M today, plus some $40M in debt... A big price to pay for what they want.

That and seeing how 90% of ANG business is in mining... I thought they want to diversify away from the sector. More bang for your diversification buck to not buy another mining services/manufacturing company?

But then I'm just sitting on my azz so what do I know