Updates

IFTE

May 2002

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

IFTE, the largest designer of specialist live-fire trainingsystems, has won five contracts, worth $3.46m, through Symtron, itsAmerican subsidiary. The contracts relate mainly to US fire housesimulators, with one fuel spill trainer. This business will fallinto the year ending April 2003 and will help underpinexisting earnings forecasts of 8p. On that basis the prospective PE fallsto 14.9. Chairman, David Williams, needs to pull an acquisitionout of the hat, if the shares are to break out of their tradingrange. Stay on the fence for now. ...

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Landround - New Year NAP up 37%

S&U - 718p price target

IFTE - No acquisitions yet (July 2002)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

IFTE

May 2002

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IFTE - No acquisitions yet (July 2002)