Thanks Plunge, you know I think you are correct. I am in Telecoms (systems & LCR) and must confess many of these companies are intertwined, it gets very confusing at times. The industry is inundated with LCR's and at times it beggars belief as to how they make a profit. The Middle East, Far East and outlying areas are now really competative whereas the European and US markets appear to be pretty much of a muchness. My main interest in holding these along with companies such as FTO (Future Oil) are primarily because I think that the Pacific rim ie China is going to be the area to watch for 2004. However Good Luck in this coming year my friend.