aebweb@temne.co.uk 112.231.000.1 g.dalton@hotmail.com 10&(meM@wlkerteck.net.ca ienglish@biscuit.co.uk/sharetrade

Hi Ivan -

You asked me to keep an eye on what is happening with Gerberman. I don't know where you got your info from, but it looks as though you have struck oil. Personally I thought that the management buy-out had gone so well that the company would not want to be absorbed by a bigger competitor. Still, I considered what you said about the company being highly leveraged, and that this was affecting the price/earnings ratio on the shares.

In fact, the more I looked at it, the more I decided that it would be worth shadowing your investment with a few grand from my own pocket. If all goes well, we will make a good profit from the dividend, and the share value will increase again after that. Gerberman has been in talks with Holler Electric, and the two companies are a good fit. I understand that Holler will make an offer for Gerberman before the end of the month.

It is quite probable that Holler Electric will offer a premium of about 12% on the current price, so the shares should be a nice little earner over the next fortnight. Since the takeover will not be hostile and Gerberman shareholders will benefit, it looks like everyone will do well - except for Holler's competitors, of course :>

By the way, I've decided to sell my Crossfire holding - the share price has been underperforming for the last month or so, and I'm looking for a new prospect to put the investment into. But with the market so flat, Gerberman is the only interesting one I can find!

Gerry.

Disclaimer: the comments on this communication represent the views of a named individual, and do not reflect the opinions or policies of Temne plc.

1. d
This text is an email, as is shown by the address route at the top, and because the writer does not need to give his address. Internet sites have a different structure, and while it is a report about business, it is not written as a business report.

2. a
The email is casually written (e.g. Hi instead of hello). It contains colloquial language, and information which is not relevant to the main point of the letter. At the same time many details are left out. Therefore this is an informal piece of writing.

3. c
When you admit something to someone, you tell them something that you would have preferred not to say. As well as admitting that he was wrong, Gerry informs Ivan of the other points.

4. d
Ivan suspected that Gerberman were going to sell their company, so he bought shares in the company. Gerry has heard confirmation that Ivan was right, so he is writng to tell him.

5. a
The management borrowed a lot of money to buy the company (that's the high leverage). Repaying the interest is eating up the company's profits, so the management decided to sell to a larger company who would take them over.

6. b
The share price will be high "until the end of the month" says Gerry, and as the dividends are due, the shares should be "a nice little earner" until then.

7. d
Gerberman and Holler are "a nice fit" - they go well together. Gerberman shareholders will benefit, Holler will get a good company, so everyone will be happy except for the competition for their business.

8. d
We know Gerry deals in shares, but not whether this is his profession. Also, Ivan might has suggested he watch the share price because Gerry is a journalist.At the same time Gerry's knowledge of businessman may be because he is a businessman himself, so this e-mail could have been written by either a share dealer, a businessman or a journalist.