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To: mph who wrote (103226)	1/7/2004 10:30:40 AM
From: Bob	Respond to of 208838

absolutely. Actually positive news, they will use money for accretive acquisitions. "We are pleased to complete this financing" said Ronan O'Caoimh, C.E.O. "These funds are not required for normal corporate purposes. However, we continue to seek suitable acquisition opportunities and this strengthening of our balance sheet which results in cash balances in excess of $43m, combined with strong operating cashflows and unutilised banking facilities will allow us to target larger acquisitions than previously. We intend quickly turning this capability into accretive earnings per share acquisitions.