=+1. Exchange rates at the relevant dates are as follows: Date $tothe Date $ to the

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=+1. Exchange rates at the relevant dates are as follows:

Date $tothe€ Date $ to the

1 January 1995 2 31 December 2002 1.6 Date on which CUBE acquired: 31 December 2003 1.5

— non-current assets we Average rate 2003 1.52

— opening inventory 1.8

— closing inventory LA

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