LWI - business report

The reviewing progress of listed companies at WSE continued and caused us to redefine our index. With 51 listed companies we decided to reduce our index down to 10 titles. However, we still plan as soon as possible to increase this number again up to 15 which we consider to be a fair minimum to simulate the market. Quite a few new IPO’s are waiting to get their approval. Together with the approaching release of WSE 4.0 we are optimistic to see LWI soon reaching its break even.

The restructuring resulted in an increase of the index. It stands now at 872. With some titles still in SPO we possibly will see further increases. However, we remind you that break-even is only reached if the index climbs over 1000. Compare also with the mathematical formula we give in our prospectus.

Share prices for LWI recently rose up to 79 $L because of some strange activities- reason that we asked WSE to halt trading. With an index standing at 872 investors can only expect to get 0.95 $L paid back per LWI share on 18th January 2008. Even if we anticipate bullish share values till then we think that actual share prices of >10 $L are rather optimistic.

Trading will resume in short time.

symbol, spotprice (18JUL), dividends, 24 hr average price (19NOV), branch, LEM:rating
=====================================================================================

RDX, 3.19, 0.038, 0.92, technology
DDE, 3.72, 0.432, 2.75, real estate, STRONG BUY
ETC, 0.92, 0.01, 0.97, environmental services
HCL, 1.84, 0, 1.18, financial services, BUY
HOT, 2.95, 0.379, 2.56, financial services, BUY
LEM, 1.6, 0.175, 1.50, investment banking
LGO, 0.81, 0.03, 0.51, technology
LLL, 1.87, 0.508, 2.00, construction
HUI, 2.48, 0.285, 2.00, technology
ALL, 2.55, 0.206, 2.16, real estate
(LWI10) 872.19

As always the index can be followed in real time on http://www.slquotes.com/lemur or on our blog.

Greetz

Casper Trebuchet

LEM, CEO
House of derivatives (LFB, LWI, LHH)
http://lemurinvest.blogspot.com


Reminder:
Our index doesn’t use weighted market capitalization because of missing free float. Unfortunately, but with the criteria below we believe to have selection criteria which are rather adapted to the situation and reflects the market quite good enough:

(1) Market cap (> 1.5 million $L)
(2) Free float (> 20%)
(3) Market presence (since three month on the board)
(4) performance till now (weighted, dividend included = positive)
(5) Business idea
(6) Management skill, communication
(7) Economic branch the company is active in
(8) Rating of analysts