weakness, page-6

Hi Quingees,

I've wouldn't describe my involvement in early childhood as an interest, to me it's a passion.

I don't hold any stock in any of the four corporates, although a willing investor I am waiting for the delivery of the Family Package and more importantly, how the corporates are going to minimise the reduced profits from the ratio changes in 2016, before making my decision.

My opinion is that Think are being extra careful in sourcing acquisitions, looking for centres where the occupancy of 2-3 yr olds, and room structure, will adapt to the ratio changes with minimal reduction to profits.

Up until November 2013 we had one corporate childcare listing, sixteen months on, we have four. Wouldn't be at all surprised to see one of those larger private operators, who are quietly accumulating centres, be corporate listing number five on the ASX before the end of the year.

Always happy to discuss everyones thoughts and share different points of view and information, on all childcare forums, and look forward to all input by you and others.

Islay