Lexington Gold Share Discussion Threads

[akastantheman] 25/2/2002 08:11

What a beautiful morning this MOnday is ................ up 10p aleady and it's not 8:15 a.m. yet........

Get aboard the train guys this stock is going to climb new heights over the next few months..Name change and some nice contracts with 'Consignia' in the final tender stage could be very very good.......


ADYOR

[akastantheman] 22/2/2002 00:51

Well LOGICA2ME you could even see this back @ 525 by the end of the day...

I wonder where WAF is hiding......??????????

[blackday] 22/2/2002 00:12

one things for sure it will b up tmorrow as well.

[akastantheman] 21/2/2002 11:55

Well up by 34.5p before 12:00 p.m. ............. not bad

[zcaprd7] 21/2/2002 11:35

I make their P/E ratio about 11 - and RAC's contribution grew by 50%.

I would think a P/E of 15-20 would be more appropiate?

Kev

[zcaprd7] 21/2/2002 11:35

sorry - duplicate

[blackday] 21/2/2002 10:09

well u shouldnt have started another tread really, but iam the first buyer today got seven grands worth, if it doesnt hit a fiver id be mythed but but it was rac anyway but brand names and all that.

[akastantheman] 21/2/2002 08:43

YOUR WISH IS MY COMMAND....................



akastantheman - 21 Feb'02 - 08:24 edit




Its a new game and a new Name.........

These are going to go higher than last years high of 610p and higher than they where back in 1998 of 630 +.

Buy now or miss out aon a great opportunity even though I say so myself.

Yes I work for the company and not ashamed to be associated with it.

ADYOR



LOGICA2ME - 21 Feb'02 - 08:41 - 1 of 1


I would have preferred a thread title saying

"Who wants to buy shares in The RAC"?

[akastantheman] 21/2/2002 08:24

Its a new game and a new Name.........

These are going to go higher than last years high of 610p and higher than they where back in 1998 of 630 +.

Buy now or miss out aon a great opportunity even though I say so myself.

Yes I work for the company and not ashamed to be associated with it.

ADYOR

[akastantheman] 21/2/2002 08:16

Well I can honestly say that I will await for the lambing season to appear and see the name changed to RAC PLC - rolls of the tongue better than LEX Services....

WAF......where are you now........

[akastantheman] 21/2/2002 07:52

Well here are the finals........I shall let those accountants amongst squabble over the figures....




RNS Number:8016R
Lex Service PLC
21 February 2002


PART 1


Lex Service PLC 2001 preliminary results statement

21 February 2002

Lex Service PLC announces strong profit growth;

company to be renamed RAC plc



Lex Service PLC, the motoring and vehicle solutions company, announces
preliminary results for 2001 which demonstrate a year of strong growth and
continued improvement in the quality of earnings.

Results highlights


• Profit before goodwill amortisation, exceptional items and tax up 19% to
£65.1 million.

• Earnings per share on this basis up 18% to 41.9p.

• Full year dividend increases by 4.8% to 22.0p per share.

• RAC Motoring Services contribution grew 50% to £39.0 million including
£9.8 million from RAC Auto Windscreens.

• Value of long term business increased by 9% to £2.7 billion.

• Lex Service PLC proposes renaming as RAC plc.



Lex Service Chief Executive Andy Harrison said:

"Lex has been transformed over recent years with the acquisition of RAC and the
divestment of our motor retailing activities. The benefits are clear, with a 19%
growth in underlying profits, a substantial improvement in the quality of our
earnings and exciting growth prospects."

"Changing our name to RAC plc is the natural next step as we build on the
inherent strength of the RAC brand. Lex will remain an important trading brand
in the corporate vehicle market."



Lex Service will seek shareholder approval for the renaming at its Annual
General Meeting on 25 April 2002 and, subject to approval, will become RAC plc
in September 2002.



- ends -

For more information contact:

Paul Hewitt, Finance Director, Lex Service PLC 01628 843703

Niall Addison, Finance & Investor Relations Manager, Lex Service PLC
07764 624701

Kate Holgate / Michael Webster, Brunswick Group 020 7404 5959

E-mail: [e-mail] Website: www.lex.co.uk



Lex Service PLC preliminary statement

A clear vision for growth

Through the acquisitions of RAC Motoring Services in 1999 and Auto Windscreens
in 2001, and the exit from car retailing in 2000, Lex has been transformed into
a strong support services company with unique motoring and vehicle expertise and
a clear vision for growth in the consumer and business markets. The progress
achieved in 2001 confirms the success of this strategy.

There are considerable opportunities for further growth. In the consumer market
RAC is continuing to grow its roadside business, with revenue up by 6% and
customer numbers passing the two million milestone. In addition, revenue from
non-roadside services grew on a like for like basis by 15% as the business
continues to develop its comprehensive range of motoring solutions. In the
business market Lex and RAC, benefiting from the growing trend towards
outsourcing, won an unprecedented number of new contracts, increasing the
revenue due from long term business by 9% to £2.7 billion. Together, these
developments have improved the visibility and predictability of future revenue.

We are developing a strong platform from which to address these growth
opportunities:


• We intend to leverage the strength of the RAC brand by renaming the
company RAC plc, while continuing to build the Lex brand in its corporate
vehicle markets. The renaming will enhance our ability to attract and retain
talent by developing RAC's strengths as an employment brand.

• In 2001 we launched a programme called Growing Stronger Together to
realise profitably the links between RAC and Lex by pursuing joint growth
opportunities and combining areas with similar skills and processes. This is
reinforced by the new organisational structure announced in January 2002.

• We will continue to develop our track record for service excellence,
demonstrated by customer retention and satisfaction rates and the record 22
service accolades we received in 2001.



Operating performance

Profit before goodwill amortisation, exceptional items and tax grew by 19% to
£65.1 million (2000 - £54.6 million before disposal losses of £12.9 million).
Earnings per share on this basis increased by 18% to 41.9p (2000 - 35.6p). The
Board proposes a final dividend of 13.2p (2000 - 12.6p), which together with the
interim dividend of 8.8p per share (2000 - 8.4p), increases the total dividend
for 2001 by 4.8% to 22.0p per share (2000 - 21.0p). The dividend will be paid on
3 May 2002; the ex dividend date is 27 February 2002 and the record date is 1
March 2002.

RAC Auto Windscreens' results were on track with a profit contribution of £9.8
million following its acquisition on 30 March 2001; net of interest the
contribution was £5.3 million. This was partially offset by an increased pension
cost of £3 million in 2001, which resulted from the erosion of our pension
surplus due to the poor performance of equity markets over the past three years.
The pension scheme is fully funded, although with no surplus remaining, and
there will be a further increase in pension costs of £6 million in 2002.

The financial and operating results for 2001 reflect the business groupings
which were in place throughout the year:


• RAC Motoring Services - Consumer Services and Business Services

• Lex Business Services - Lex Vehicle Leasing, Lex Transfleet, Lex's
mechanical handling activities and Lex Multipart

• Lex Vehicle Marketing - Hyundai, Isuzu Truck and Lex Commercials.

Results for 2002 will be reported in line with the new organisational structure
announced on 14 January 2002 (see notes to editors); the 2001 results will also
be reported on a like for like basis.



Continued growth in RAC

RAC Motoring Services contributed £39 million to profit in 2001 (2000 - £26
million), including £9.8 million from RAC Auto Windscreens following its
acquisition on 30 March.

RAC achieved continued growth in its individual customer base, finishing the
year with

2.03 million members (2000 - 1.95 million). Retention rates remained strong at
83% (2000 - 83%). Roadside revenues increased by 6% to £249 million (2000 - £234
million) and revenue from non-roadside services grew by 15% on a like for like
basis to £125 million.

RAC is making good progress towards its goal of being the first choice provider
of a comprehensive range of individual motoring solutions, through growth in
non-roadside services. BSM grew revenue by 12% and profit by 49%; Legal Services
grew revenue by 44% and profit by 50%; and Financial Services reached the
milestone of £1 million profit and wrote loans to the value of £34 million. RAC
continued to grow the number of new members acquired via the internet: over
40,000 new members signed up online with RAC in 2001, up from 13,000 in 2000,
with a substantial saving in acquisition costs. In response to changing customer
needs RAC launched a number of innovative new products during the year,
including RAC Routeminder, which provides travel information via PCs or mobile
telephones; and RAC Platinum, a premier motoring package incorporating added
benefits such as European assistance and travel insurance.

RAC Auto Windscreens made strong progress in 2001 with revenues and underlying
profits increasing, on a full year basis, by 7% and 22% respectively. The
rebranding of the business as RAC Auto Windscreens is well underway.

RAC Business Services performed well in 2001 and won significant new contracts,
including Motability vehicle inspections; Consignia accident management; and
fleet breakdown contracts with DaimlerChrysler Services and Lloyds TSB
Autolease. Business Services' insurance claims handling division expanded into a
new call centre in Manchester to support the services it provides to CGNU's
three million motor insurance customers and to accommodate future growth. By the
end of 2002 RAC will handle over 550,000 claims and over three million telephone
calls on an outsourced basis for CGNU and other customers, a growth of 30% over
2001.

RAC's quality of service was recognised by a series of prestigious industry
awards in 2001, including being named top in all aspects of the independent JD
Power roadside recovery service survey, the Fleet Excellence award for Top
Recovery Services Provider and the Fleet World Honours award for Service
Excellence. This progress continued when RAC was voted Top Recovery Services
Provider for the second year running and Top Accident Management operation in
the 2002 Fleet Excellence awards.

We have now delivered much of the £30 million profit improvement forecast at the
time of the RAC acquisition, with a stronger than anticipated performance,
particularly on revenues, from the core RAC business activities. The performance
of Lex Autocentres within RAC has, however, been disappointing. Whilst the link
with RAC has delivered extra revenue, this has been more than offset by an
erosion in Autocentres' base business.

Our confidence in RAC's continued long term growth is reflected in a £10 million
increase in our investment in infrastructure and systems, bringing the total
investment programme to £30 million. The related costs will moderate our growth
in 2002 but the investment will deliver substantial efficiency gains and
enhanced revenue growth from 2003 onwards.



Lex Business Services

Lex Business Services, which delivers a broad range of co-ordinated outsourcing
services to major public and corporate organisations, contributed £33.7 million
in 2001 (2000 - £32.7 million) and received industry recognition for its service
excellence through a record number of service awards.

We are increasingly attracting customers who value our ability to provide a
broad range of co-ordinated services, such as the Ministry of Defence and CGNU,
and won a record number of outsourcing contracts in 2001. The successful
implementation of the £500 million Ministry of Defence 'White Fleet' contract,
supported by Lex Vehicle Leasing and Lex Transfleet, has further strengthened
our partnership with the armed forces. In May 2001 Lex won a contract with BAE
Systems to provide fleet management, parts support, mobile maintenance and
workshop services, led by Lex Transfleet with support from Lex Harvey. We
continue to focus on cross-selling among our Lex-branded businesses, achieving
£20 million of additional revenue in 2001 (2000 - £12 million) with scope for
further growth in 2002. The scale of the opportunity is demonstrated by the fact
that Lex provides services to 50% of the FTSE 350 companies and less than 10% of
our business customers buy more than one service from us.

Lex Vehicle Leasing, our joint venture with Halifax plc, grew pre-disposal
profit by 15% with our half share worth £17.1 million in 2001 (2000 - £14.9
million). Following disposal losses of £12.9 million in 2000 as a result of
falling used car prices, Lex made a £45 million provision to reflect its half
share of expected future losses. The used car market stabilised faster than
expected in 2001 and disposal losses for the year were absorbed within the
provision. The Board is confident that the remaining provision will be adequate
to cover expected future losses. Lex Vehicle Leasing continues to focus on high
quality new business and grew the contract hire fleet by 3% to 93,700 in 2001 as
a result of a number of new contracts, including the Ministry of Defence White
Fleet, Taylor Woodrow and TDG. The business developed its range of services with
the launch of a fleet evaluation software called ViewPoint, which enables
businesses to understand the impact on their fleets of the April 2002 company
car tax reforms. Lex Vehicle Leasing won a series of service awards, including
the Fleet Excellence Awards for Best Contract Hire Company and Best Overall
Service Provider.

Lex Transfleet, our commercial vehicle contract hire and fleet management
business which is a joint venture with Lombard, made strong progress with profit
growth of 71% and an increase in its managed fleet to 26,000 vehicles (2000 -
17,000). The business is focusing future growth around its fleet management
capabilities. Lex Transfleet won the Institute of Transport Management award for
Van Rental Company of the Year in both 2001 and 2002.

Lex Fleet Software, which trades under the Tranman name, continued to grow new
business, turnover and profit in 2001, and was highly commended for the Fleet
Excellence Fleet Software award. The business expanded its product range with
the acquisition of Servitor, a generic asset management product.

Lex Multipart, our inventory management business, contributed £13.6 million in
2001 (2000 - £13.6 million). The business is structured in three parts, each
providing dedicated service to its key market sector. Lex Auto Logistics, which
provides automotive parts support, made good progress, reducing its cost base
and growing new business, including a new five year aftermarket parts support
contract with Fleetguard, part of Cummins Engines. Negotiations are continuing
with Paccar to renew the DAF contract which expires in June 2003. Lex Multipart
Defence, which provides parts support for the Challenger 2 tank in partnership
with Vickers Defence Systems, has delivered significant efficiency gains to the
Ministry of Defence and now operates a warehouse within the military base at
Bicester, further strengthening its relationship with the MoD. Set against this
progress was a disappointing performance from Multipart Universal which
distributes all-makes parts for commercial vehicles; action has been taken to
reduce the cost base to improve future performance. Lex Multipart won the East
Midlands Business News Award for Services to the Automotive and Manufacturing
Industry in 2001 and was a regional winner in the Trade Partners UK Languages
for Export Award 2001.

Lex's mechanical handling businesses were restructured during 2001, exiting the
unprofitable distribution activities amid continued difficult market conditions.
UK contract hire and maintenance margins fell as older contracts were renewed at
today's lower prices; together with restructuring costs this reduced the
business's contribution to £1.3 million (2000 - £2.9 million). We have reduced
the cost base by £1 million, together with an emphasis on the quality of new
business to ensure the profitability of future contracts. For the longer term we
will develop our strong national mobile maintenance capability for a broad range
of industrial equipment, which we view as an important part of our business
solutions portfolio.



Vehicle Marketing

Vehicle Marketing contributed £6.2 million in 2001 (2000 - £6.0 million).

Hyundai maintained its overall registrations at 27,800 (2000 - 27,200) and
market share at 1.10% (2000 - 1.18%), with increased dealer registrations offset
by the withdrawal from daily rental contracts. Four new models were launched
successfully during 2001 - the Elantra and Sonata saloons, Santa Fe sports
utility vehicle and Matrix mini-multi-purpose vehicle - establishing Hyundai as
a competitor in all major market sectors. This was followed in January 2002 by
the launch of the new Hyundai Coupe to critical acclaim from the motoring press.
The strength of Hyundai's customer service was recognised when its Customer
Support team was awarded the 2001 National Customer Service Award for Best
Complaints Handling Team by the Institute of Customer Service.

Lex Commercials, our network of commercial vehicle dealerships, continued to
grow profit and reduce capital employed as it has done consistently for the past
three years. The business grew sales of new trucks and increased its local
retail market share. Quality of service was reflected by the fact that Lex
Commercials held seven of the top 10 DAFaid service league positions, including
first place throughout 2001.

Our Isuzu Truck importership made a loss during the year because of the movement
of the yen against sterling. The competitive position has been restored for
2002. Isuzu Truck was named a best practice organisation for both leadership and
customer service by the Department of Trade and Industry in 2001.



Financial results for 2001


Profit before goodwill amortisation, exceptional items and tax grew by 19% to
£65.1 million (2000 - £54.6 million before residual value losses of £12.9
million). Earnings per share on this basis increased by 18% to 41.9p (2000 -
35.6p).

Operating exceptional profits of £1.8 million are after one-off integration
costs of £5 million in respect of RAC and RAC Auto Windscreens. A gain of £6.8
million was made on the release of the provision set up against the litigation
involving RAC when it was acquired by Lex. Exceptional profits of £9.3 million
reflect the £25.3 million gain made on the disposal of our remaining holding in
Synnex, a Taiwanese electronic components distributor, offset by net losses
incurred on the disposal of businesses, primarily within Mechanical Handling, of
which £6.8 million related to goodwill previously written off.

Goodwill amortisation of £13.9 million includes, in addition to a normal charge
of £6.3 million, £7.6 million which has been written off in respect of Lex
Manutention and Kellett.

After goodwill amortisation and exceptional items, profit before tax was £62.3
million (2000 - loss before tax of £17.5 million), with earnings per share on
this basis of 39.5p (2000 - loss per share of 9.5p).

The group tax rate on underlying profit was 26% (2000 - 26%) which is expected
to rise to 31% over the next three years.

Net debt excluding asset finance increased during the year by £94 million to
£197 million, primarily as a result of the acquisition of RAC Auto Windscreens
and our investment in RAC's systems and infrastructure. This was partly offset
by the sale of our remaining stake in Synnex for £46 million.

Our interest cover remains healthy at 7.4 times.

Board appointments

In December 2001 Deputy Chairman Victor Benjamin retired from the Board as a
non-executive director. During his 30 years on the Board he made a very
significant contribution to the company's deliberations and provided a strong
and independent view to the Board. We thank him for his service and wish him
well in the future. We also thank Graeme Potts, Managing Director of RAC
Motoring Services, who has stepped down from the Board.

We welcome Peter Long, Chief Executive of First Choice Holidays plc, who was
appointed to the Board as a non-executive director in February 2001; and Dianne
Thompson, Chief Executive of Camelot Group plc, who joined the Board as a
non-executive director in February 2002.



An outlook of continued growth

The company has now been repositioned as a strong and unique support services
business based on motoring and vehicle solutions, with a clear vision for growth
in consumer and business services. The strong performance in 2001, together with
the increased investment in RAC and the development of our brand strategy,
augurs well for long term growth. Our momentum has continued into the early
weeks of 2002 and the business is performing in line with expectations.





- Ends -

Notes to editors:

Lex Service provides motoring and vehicle solutions to individual and business
customers through five inter-related divisions:


• RAC Consumer Services sells a comprehensive range of motoring solutions to
individual customers, including financial, legal and travel services, RAC
Auto Windscreens and BSM.

• RAC Business Solutions sells motoring and related business solutions to
business customers and manages complex outsourcing bids for large public and
private sector organisations.

• Lex Vehicle Leasing is the UK's leading car and van contract hire company,
providing solutions for fleets of all sizes together with personal leasing
and employee car ownership schemes.

• Lex Industrial Solutions includes mechanical handling, fleet management
and commercial vehicle contract hire, where there is significant commonality
of customers and operations.

• Lex Manufacturer Support Services provide outsourced marketing and
inventory management services, primarily to vehicle manufacturers.




This information is provided by RNS
The company news service from the London Stock Exchange


RNS Number:8015R
Lex Service PLC
21 February 2002


PART 2

Consolidated profit and loss account
for the financial year ended 31 December 2001
Continuing operations
2001 Acquisitions Total 2001 Total 2000

2001
(restated)*
£m £m £m £m

Total turnover 1,377.1 71.6 1,448.7 1,524.7
Less share of joint ventures (266.6) - (266.6) (270.6)
Less share of associates (7.2) - (7.2) (32.9)
Group turnover 1,103.3 71.6 1,174.9 1,221.2
Cost of sales (807.9) (36.1) (844.0) (860.2)
Gross profit 295.4 35.5 330.9 361.0
Operating exceptional items 2.3 (0.5) 1.8 (17.3)
Amortisation of goodwill (9.9) (4.0) (13.9) (2.1)
Other net operating expenses (250.6) (25.7) (276.3) (316.3)
Total net operating expenses (258.2) (30.2) (288.4) (335.7)
Group operating profit 37.2 5.3 42.5 25.3
Share of joint ventures' operating profit 18.5 - 18.5 3.3
Share of joint ventures' operating - - - (45.0)
exceptional items
Share of associates' operating profit 2.2 - 2.2 4.0
Total operating profit/(loss) : Group and share of joint 57.9 5.3 63.2 (12.4)
ventures and associates
Net loss on disposal of businesses (17.2) - (17.2) (16.9)
Net profit on sale of fixed assets 1.2 - 1.2 8.6
Profit on sale of investments 25.3 - 25.3 13.5
9.3 - 9.3 5.2
Net interest (payable)/receivable and similar
(charges)/income
Group (10.2) (10.4)
Associates - 0.1
(10.2) (10.3)
Profit/(loss) on ordinary activities before 62.3 (17.5)
taxation

Taxation on profit/(loss) on ordinary (16.9) 6.6
activities
Profit/(loss) on ordinary activities after 45.4 (10.9)
taxation
Equity minority interests 0.1 (0.1)
Profit/(loss) for the financial year 45.5 (11.0)
Dividends - paid and proposed (25.1) (24.2)
Retained profit/(loss) for the financial year 20.4 (35.2)
Profit/(loss) for the financial year £45.5m (£11.0m)
Earnings/(loss) per ordinary share 39.5p (9.5p)
Earnings/(loss) per ordinary share 39.0p (9.4p)
(diluted)
Underlying profit before taxation for the financial year £65.1m £54.6m
Earnings per ordinary share on underlying profit 41.9p 35.6p
after taxation and minority interests
Earnings per ordinary share on underlying profit 41.4p 35.4p
after taxation and minority interests (diluted)
Dividends per ordinary share - paid and proposed 22.0p 21.0p

There is no difference between the Group's profit at historical cost and the
profit for the financial year reported above in either year.

Underlying profit before taxation for 2000 has been restated to exclude disposal
losses in Lex Vehicle Leasing.

* Prior year comparatives have been adjusted for the impact of FRS 19.


Consolidated balance sheet
at 31 December 2001
2001 2000
(restated)*
£m £m
Fixed assets
Intangible assets 536.1 446.4
Tangible assets 317.4 287.0
Investments in joint ventures
Share of gross assets 499.3 507.8
Share of gross liabilities (454.1) (456.6)
45.2 51.2
Investments in associates 7.3 5.7
Other investments 12.0 22.9
918.0 813.2

Current assets
Stocks 155.7 176.1
Debtors 221.5 176.8
Investments 23.9 12.7
Cash at bank and in hand 17.4 42.2
418.5 407.8
Creditors: amounts falling due within one year
Bank and other loans 153.6 100.6
Other creditors 459.9 475.8
613.5 576.4
Net current liabilities (195.0) (168.6)
Total assets less current liabilities 723.0 644.6

Creditors: amounts falling due after more than one year
Bank and other loans 217.5 178.5
Other creditors 65.1 59.4
282.6 237.9

Provisions for liabilities and charges 16.4 13.2
Net assets 424.0 393.5

Capital and reserves
Called up share capital 29.2 29.0
Share premium account 129.3 127.2
Capital redemption reserve 1.0 1.0
Profit and loss account 264.7 236.1
Shareholders' funds 424.2 393.3
Equity minority interest (0.2) 0.2
424.0 393.5

* Prior year comparatives have been adjusted for the impact of FRS 19.


Consolidated cash flow statement
for the financial year ended 31 December 2001

[nigeshares] 19/2/2002 14:11

thanks DAVE46 & ASKSTANTHEMAN
A QUESTION FOR U BOTH
are we seeing some profit taking today??
Regaards nige

[akastantheman] 19/2/2002 13:41

They where released on the 22nd February 2001 so should be this Friday at the latest Monday......but cannot see in the 'shareoracle' result area


ADYOR

[dave46] 19/2/2002 11:31

Nigeshares use the results section of
It gives forecasted figures and commentary aswell for companies for the next 14 days
Dave

[nigeshares] 18/2/2002 07:09

can u help me please??
when are results due??
thanks
:^)

[zcaprd7] 15/2/2002 10:12

Fidelity purchased 1% of Lex.

Can't be bad!

Kev

[waf] 15/2/2002 00:59

I think that the results are this week.

[zcaprd7] 15/2/2002 00:53

I've been long since 442p - some more big buys - when are the figures due?

Kev

[akastantheman] 15/2/2002 00:48

I hope you guys are watching this stock..............

bunnyboiler101 - 05 Feb'02 - 09:24 - 94 of 113

Just broken the 440p support level - next support is at 350p - hold on tight guys!

WAF - 08 Feb'02 - 08:47 - 105 of 113


You are right, the current trading range is 440p-570p - though it has more chance of breaking 440p and heading for 350p than breaking 570p.



................


By the way had a comms meet with JW yesterday and am I glad I didn't listen to you two guys..............

Figures for the year 2001 will be presented to the city next week and current shareholdersd will be pleased.

Yet again another award won by LEX Freechoice being awarded the best PCP company for second succesive year.

IMHO

ADYOR

[akastantheman] 14/2/2002 13:01

So what does WAF stand for ..........


Even JW wasn't forth coming on actual figures but has a shareholder, as well as working for LEX he told me and others that shareholder value had increased.



ADYOR

[waf] 14/2/2002 13:00

Lex shares have risen this week

[zcaprd7] 13/2/2002 15:02

Two mm buys today - otherwise quiet? - something brewing?

kev

[waf] 12/2/2002 00:22

xcaprd7

LVL and RAC are by far the two most interesting divisions as far as I am concerned, though LEX SERVICE also own Hyundai UK, which has potential.

Watch and wait.