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To: Spekulatius who wrote (4639)	2/20/2004 1:51:14 PM
From: - with a K	Read Replies (1) \| Respond to of 23958

I added to BEL here. Chairman Bennett on ROBTV yesterday addressing many of the concerns and misperceptions: robtv.com Analyst report hit the wires a little while ago: According to Westminster analyst Will Lyons, "We are not aware of any fundamental reasons for the recent weakness in BEL's share price. In our opinion, the current price represents a significant buying opportunity in light of the company's most recent earnings release and conference call on 2/12/04, in which management indicated a number of positive developments." Included in those developments are the following: - BEL processed 75,000 metric tons of contaminated soil in 2003, a number that management expects will rise to 120,000 - 140,000 metric tons in 2004 - The company is currently bidding on or preparing to bid on 700,000 tons of new soil remediation projects, in addition to having discussions with Canada's Department of National Defense regarding the next phase of the massive Saglek radar site decommissioning project. - Construction of the company's second soil processing facility in Belledune, New Brunswick is 65% complete and on schedule for commercial operation beginning early in the second half of 2004. - Soil processing has continued at near maximum capacity during the current winter months due to the additional soil storage capacity BEL built in 2003 - Subject to regulatory approval, we expect the authorized throughput at the company's existing soil processing facility at St. Ambroise, Ontario will increase 11 percent this year. Our current forecast is for BEL's fully-taxed, fully-diluted US GAAP earnings to rise to US$1.17 and US$1.83 in fiscal years 2004 and 2005, respectively, based on management's most recent public guidance.