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  1. Henrik

    635 posts.
    TEM is growing quite well but the stock price is going nowhere.
    Apart from business growth TEM is also buying back stock in the market.

    Perhaps the shorts are still managing to depress the price, but for how long before they have to cover their positions ?
    TEM short on 16 Jan. was 1.5mil shares.

    Any comments ??
    ------------------------------------------------

    Company Announcement
    Strengthens Security Division to Meet Growing Demand
    TEMPO SERVICES LIMITED 2003-01-20 ASX-SIGNAL-G
    HOMEX - Sydney

    Tempo Services Limited, Australia's largest facility services
    company, has strengthened the management team of its security
    division, in response to growing demand for the division's services.
    Mr Charles Blinkworth has been appointed executive general manager of
    the division, which trades as Group 4 Securitas, Loss Prevention Risk
    Management and Prestige Protection Services. Mr John George has been
    promoted to national general manager, security; and Mr Mark Wylie has
    become general manager, aviation and safety services.

    Mr John Schaeffer, executive chairman of Tempo Services, said; 'We
    are seeing a significant increase in demand for our security services
    and, particularly, for higher levels of security including
    counter-terrorism, and these appointments will position us to handle
    further growth. Since Tempo Services acquired our security businesses
    in 1995, this division's revenue has increased from $60 million to
    $145 million in the year to 30 June 2002 and we are now the largest
    Australian-owned security business. In the past six months alone, we
    have won new security contracts totalling $14 million per annum,
    ranging from the North West Shelf Gas Project to Federation Square,
    Melbourne and the Australian Broadcasting Corporation in New South
    Wales.

    'Last month we also began to provide passenger screening and manpower
    security services for Melbourne Airport. This brings to 19 the number
    of airports to which we provide security services and confirms
    Tempo's position as the leader in airport passenger screening in
    Australia.'

    Mr Blinkworth was managing director of Group 4 Securitas when Tempo
    Services bought the business in 1995. Since then he has been group
    manager, business development and he is also responsible for Tempo's
    growing facility management business. He will retain these roles and
    will also assume responsibility for Tempo Services' Zip Response
    Group courier and patrol business.

    In his new roles, Mr Blinkworth succeeds Mr Bill Davidson who has
    resigned as an employee and a director of the company. Mr Schaeffer
    thanked Mr Davidson for his contribution and wished him well for the
    next step in his career.

    Mr George has 20 years' experience in the security industry, and has
    been with Tempo since 1995. Previously he spent 24 years in the
    military, including the SAS, and was the first commanding officer of
    the Northwest Mobile Force. In this latter role he was awarded the
    OBE in 1983.

    Mr Wylie has been regional general manager, Victoria and Tasmania,
    for Group 4 Securitas. Previously he was operations risk manager for
    Ansett Australia, responsible for aviation security and loss
    prevention, following risk management roles with an insurance company
    and a major store group and several years with the Victorian police.
    Mr Schaeffer said that Mr Wylie's new appointment would cement
    Tempo's leadership in airport security and enable the company to
    offer a broader range of services to protect against possible
    terrorism.

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