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[sharechat] WRI

From:	"mick" <mick100@extra.co.nz>
Date:	Tue, 23 Sep 2003 19:42:36 +1000

Comment from IRG Research

Interests associated with former Fonterra boss Craig Norgate have made an above-market bid for a significant interest in WRI. However, their interest is passive and no major changes are looming. Despite this, conditions in the rural economic outlook remain weak and the NZ dollar continues to rise. Until the tide turns the other way, WRI's growth will be limited, despite plans to move into less cyclical businesses. The investment is a vote of confidence in the company, however.

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