I don't think they will be pressured into re-thinking, by Telstra trying to talk down their earnings.

Sentiment amongst institutional investors is very poor. There's a lot of uncertainty surrounding the new management's strategy.

Mobile phone prices are only going one direction, and that's down. Telstra faces a lot more competition in the wireless market, so the margins are nowhere near as impressive as those for fixed-line.

I just want to talk about winning. I don't even want to think about losing. I know we can't be losing games.

You didn't look like you were very pressured to me.

I think it's going to show up in some comments. I think you will get some comments that (earnings) would have been better if it hadn't been for the euro.