all information and advice is confidential for the private of person to whom it provided without any responsibility or liability on account whatsoever part this firm member employee thereof centenary years platinum sector update 11 september 2003 1 synchronised global recovery good news pgm demand we are bullish outlook both palladium believe chances a cycle economic growth with real signs in japan as well continued strong china expect price remain range 675 750 oz also be supported between 200 300 south african further underpin its performance likely devaluation rand relative dollar which forecast from now result easing monetary policy local investment institutions finally allowed move funds offshore updated forecasts table summary changes 2003e 2004e 2005e lt fair value platnium new 679
