Ann: Chairman & MD Presentations to AGM, page-4

Hi Beachcomber4,

thanks for the updates. I've been a holder of Saunders for a while now, I was attracted to them mainly for the quality of management and a very good balance sheet compared to most other companies in the same industry.

Like most companies in this industry though, they are finding the present market conditions challenging but I expect that in the long run, only the strong companies will survive ie those with little or no debt.

The share price seems to have dropped a little in the last week or so but on very small volume. I'm maybe looking at topping up some time in the future but would be interested in anyone else's thoughts that may have more knowledge than me in this industry and where they see this company going in the next couple of years.

Thanks.