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Subject: Re:One Link Transit--One Link Holdings--note.


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Date Posted: 00:15:45 01/09/03 Thu
In reply to: 's message, "What they should do is sell 100% controlled entitity ERG R&D" on 23:39:31 01/08/03 Wed

The settlement (this is an important point) was made with OneLink Transit (OneLink Holdings Pty Ltd and OneLink Transit Systems Pty Ltd) OneLink Transit is 100% owned by the 34% ERG Group owned---One Link Holdings with ERG being the senior member to it. (note 36 annual report 02).OneLink Holdings Pty Ltd which has the controlled entity: OneLink Transit Systems Pty Ltd Australia 100% other members are Fujitsu and Mayne Nickless. ERG Group took over the financing of Melbourne in years previous from the National Australia Bank One Link Transit Systems PTY LTD is the one that makes lease payments to ERG Group. In the Annual Review dated the 28/11/02 which is an update of the full year June 30th 2001 to June 30th 2002 reported 12/9 audited 1/10 ERG state the settlement as $80 million settlement to ERG subsidiary, OneLink Transit Systems, for scope creep claims in Melbourne. Which is correct approximately as it is for the full five years ie 65 million plus 2.85 mill for five years additional to this sum though OneLink Transit (ASX announcement 30/5 does not state whther it is One Link Transit or OneLink Holdings) will pay ERG a fixed fee of $1.9m per year for the management of vandalism over the next five years (totalling $9.5m).
One Link Holdings and One Link Transit were audited by Arthur Anderson of Melbourne in the last Annual report, I would think it will be Delloite Touche and Tomatsu for this coming half year 30/6/02 to the 31/12/02 reported on or around March 11th (last years calendar)
ASX announcement 30/5/2002Additional to the Melbourne Settlement there is the below as well--from the company announcement section words unaltered.
The settlement is in addition to the existing contractual arrangements under which OneLink is due to receive approximately $250
million in payments over the remaining five years of the contract.Over that period, OneLink is also due to repay ERG approximately $35 million for the supply of the equipment and software ERG provided for the AT System.

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