mon propoganda press, page-23

Hi All,

Further to post above, I forgot to highlight the following:
(i) some dilution has occured due to extra capital raising at 50cents which wasn't in MK original plan, but does not significantly change any forecast EPS for MON (long-term view).
(ii) MK was able to raise about 2/3 of capital from rights issue even though SP was trading below 45cps in last week of offer and with credit crunch.
(iii) TTY participated in 50cents capital raising and there is about 1/3 of rights at 45cps still to be alloted, MON directors have 3 months maximum to complete. Looks like to me that if MK is correct with MON forecasts then TTY will benefit.

I hold MON/TTY.

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