429 section 13 independent accountant s report 1 on reviewed pro forma historical financial information 430 2 amp special purpose 434 3 hhg 480 4 forecast 525 16 october 2003 the directors limited 33 alfred street sydney nsw 2000 dear we have prepared this for inclusion in an explanatory memorandum to be dated or about relating demerger of plc from together demerged businesses following both companies will separately listed australian stock exchange has been assumption that proceeds does not purport present position and reported results had they operated as stand alone during period under review further operations group