Ann: Appendix 4C, page-41

Reading the various HC threads over the years I have the view that most (potential) investors view AXP like other speculative medical companies and it is not.

What Sojourner said I couldn't have said better (particularly if I duplicate this syntax)!!!! I thought Sojourner said "boobs in the ground" which I guess is also appropriate!!!!

The biggest risk AXP management has is strategy execution risk NOT strategy development risk. They have a superior product approved in its market and just need to develop sales.

The only other issue is timing and I recognise many investors have gone broke been fundamentally correct but got the timing wrong. Is the roll out too slow? If AXP has any form of product failure in the first 100 sold then, in the absence of better data, the market will assume a failure rate greater than 1% .. if the first 1,000 then 0.1% and so on!! so now total unit sales 1,934 units.

Nuthin' wrong yet!!