Ann: CER Purchases Foreign Exchange AUD Call Opti, page-7

re: Ann: CER Purchases Foreign Exchange AUD C... well its not really guessing we know we have approx 100 mill usd coming in on a yearly bassis and we knew commondity prices were
and are very strong and we knew aussie interest rates differtials agst us were faily high and remain high and we knew that aussie economy was doing well agst the us econnomy ....so so many things did way up that the aussie had one way to go....so i agree not a four gone conclusion but never the less probalities were very great that this sitiution was a faily good bet....imo


regards....