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We refer to your letter dated 14th February 2000 regarding the above matter and wish to advise that:-
- There is no material development in the Company's business and affairs which have not been previously disclosed;
- The Company has not received any information concerning any impending change in the major shareholders;
- The Company which is an engineering company, the core business of which is in water infrastructure, is in the final stage of negotiations for a major water supply contract. We will make an appropriate announcement if and when our negotiations are successfully concluded. Other than the above, we do not know of any other reason which has caused the unusual market action.
