Financial statements

Statement by directors

In our opinion, the attached financial statements for the year ended 30 June 2003 give a true and fair view of the matters required by the Finance Minister's Orders made under the Commonwealth Authorities and Companies Act 1997.

In our opinion, at the date of this statement, there are reasonable grounds to believe that the Authority will be able to pay its debts as and when they become due and payable.

Ken Moss' signature                                  Clive davidson's signature

Dr Ken Moss                                                         Clive Davidson
Chairman of the Board                                            Chief Executive Officer
23 September 2003                                                23 September 2003