--From Analyst

Dear ...........,
Thank you for your email.
My guess is that ESI will be taken over by someone like ONDEO-Degremont, similar to Memtec's takeover.
Do you remember Memtec? We had shares in Memtec for a long time at around 56c a share, and we thought we were dashed smart when we got out at about $2.56. Memtec was finally acquired by a US company at $US34.50 in November 1997!!
Memtec's technology was not very special - it was an adaptation of a filtration technology that is used in medical processes. One sees occasional references to the company still mainly in small drinking water applications.
ESI's technology is unique, and a global company can bear the cost and the timespan necessary a lot better than ESI.
Now that ESI is being show cased in the international arena through its operations in Germany, etc, I think it is only a matter of time before it is taken over at a fine premium.
The world is far more environmentally conscious today than it was at the time of the Memtec takeover.
Just hold on!