Export Finance and Insurance Corporation (EFIC) is to provideperformance bonds for projects won by ERG in Seattle,Stockholm andWashington DC -- Anonymous

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Subject: Export Finance and Insurance Corporation (EFIC) is to provideperformance bonds for projects won by ERG in Seattle,Stockholm andWashington DC

Author:
performance bonds comprise bonds of SEK 45 million (A$9 million),US$2 million (A$3.3 million) and US$8 million (A$13.3 million) forthe projects that have been awarded to ERG over the past two months.

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Date Posted: Friday, April 04, 10:57:33pm
In reply to: 's message, "Contracts waiting for decision.Stockholm Washington DC/Virginia" on Wednesday, December 25, 07:43:52pm

ERG LIMITED 2003-04-03 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
ERG Group today announced that it has agreed the main terms on which
Export Finance and Insurance Corporation (EFIC) is to provide
performance bonds for projects won by ERG in Seattle, Stockholm and
Washington DC.

The performance bonds comprise bonds of SEK 45 million (A$9 million),
US$2 million (A$3.3 million) and US$8 million (A$13.3 million) for
the projects that have been awarded to ERG over the past two months.

All projects involve ERG supplying integrated transit smart card
solutions and then providing operating and or maintenance support.
The total value of the contracts is over A$200 million.

Under the terms of the offer, EFIC will provide performance bonds to
ERG's customers. The bonds will allow ERG's customers in the three
projects to make progressive payments to ERG and significantly reduce
ERG's cash exposure to the projects.

The issuing of the bonds will be subject to certain conditions
precedent being satisfied.

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Replies:

Subject	Author	Date
Under the terms of the offer, EFIC will provide performance bonds toERG's customers. The bonds will allow ERG's customers inthe threeprojects to make progressive payments to ERG and	significantly reduceERG's cash exposure to the projects.	Friday, April 04, 11:00:20pm