TEXTUAL SUMMARY REPORT
	Date prepared:	31-Dec-03
	The following three operational & financial reports for ANY CORP INC cover
	the months and years commencing in Feb 2005. They have been derived
	from the detailed assumptions in Exl-Plan's Monthly, Quarterly and Annual
	Reports.
	1.  FIRST-YEAR OPERATIONAL  REPORT - ANY CORP INC
	This First-Year Operational Report covers the twelve months to end Jan 2006
	based on detailed monthly projections and assumptions. The
	following table summarizes quarterly sales projections for this year:
		Quarter Ends in Year to Jan 2006				Annual
	Sales	1 Qtr	2 Qtr	3 Qtr	4 Qtr	Total
		$000	$000	$000	$000	$000
	Product Group:
	- Group1	61.0	66.0	74.0	86.0	287.0
	- Group2	57.0	64.0	69.0	76.0	266.0
	Total sales	118.0	130.0	143.0	162.0	553.0
	% Quarterly changes	NA	10.2	10.0	13.3
	This shows that Group1 will account for 52% of projected sales and that Group2 will
	account for the balance of 48%.
	Projected inventory levels for the four quarters are as follows:
		Opening	Quarter Ends in Year to Jan 2006
	Inventories	Levels	1st	2nd	3rd	4th
		$000	$000	$000	$000	$000
	Materials/goods	43.0	43.0	43.0	43.0	43.0
	The projected average materials/goods cost percentages for the four quarters are
	as follows:
		Quarterly Averages for Year to Jan 2006				Annual
	Product Groups	1st	2nd	3rd	4th	Averages
		% Sales	% Sales	% Sales	% Sales	% Sales
	Group1	41.0	41.0	41.0	41.0	41.0
	Group2	39.0	39.0	39.0	39.0	39.0
	Based on Cost of Materials (Assumption Report No. 2) as % Sales (Report No. 1)
	The projected headcounts at quarter ends are as follows:
			Quarter Ends in Year to Jan 2006
	Functions		1st	2nd	3rd	4th
			Nos	Nos	Nos	Nos
	Direct labor:
	- Group1		1	2	2	2
	- Group2		1	2	2	2
	Total direct labor		2	3	4	4
	Indirect labor		2	2	2	2
	Sales		1	1	1	1
	Clerical		1	1	1	1
	Management		1	1	1	1
	Total headcount		7	8	9	9
	Direct costs and overhead expenses are summarized below.
				Quarters in Year to Jan 2006			Annual
	Cost  Analysis		1st	2nd	3rd	4th	Total
			$000	$000	$000	$000	$000
	Materials/packaging/goods		47.2	52.0	57.3	64.9	221.4
	Direct labor		5.2	6.9	9.5	10.4	32.0
	Other direct		21.3	26.2	29.1	33.0	109.6
	Total Cost of sales		73.7	85.1	95.9	108.3	363.1
	Overhead expenses:
	Operational (indirect)		8.9	8.9	8.9	8.9	35.4
	Selling & freight		11.9	12.1	12.4	12.7	49.1
	Management/admin staff		8.3	8.3	8.3	8.3	33.0
	Administration		5.3	5.3	5.3	5.3	21.0
	Occupancy/general		2.6	2.6	2.6	2.6	10.2
	Total overhead expenses		36.8	37.0	37.3	37.6	148.7
	Total direct costs & expenses		110.5	122.2	133.1	145.9	511.7
	Proposed capital expenditure (excluding leasing) is summarized in the next table.
				Quarters in Year to Jan 2006			Annual
	Capital Expenditure		1st	2nd	3rd	4th	Total
			$000	$000	$000	$000	$000
	Land, buildings & improvements				30.0		30.0
	Plant, equipment & vehicles		10.0				10.0
	Total capital expenditure		10.0		30.0		40.0
	Changes in longterm debt and leasing are summarized below
				Quarters in Year to Jan 2006			Annual
	Debt & Leasing		1st	2nd	3rd	4th	Total
			$000	$000	$000	$000	$000
	Increase in longterm debt/notes		10.0		50.0	50.0	110.0
	Longterm debt/note repayments		5.0	5.0	5.0	5.0	20.0
	Net changes in longterm debt/notes		5.0	(5.0)	45.0	45.0	90.0
	Increases in leases			15.0			15.0
	Lease repayments		6.0	7.3	7.3	1.3	21.9
	Net changes in leases		(6.0)	7.7	(7.3)	(1.3)	(6.9)
	Overall changes in loans & leases		(1.0)	2.7	37.7	43.7	83.1
	Other significant transactions during the year include the following:
				Quarters in Year to Jan 2006			Annual
	Other Transactions		1st	2nd	3rd	4th	Total
			$000	$000	$000	$000	$000
	Proceeds of share issues		5.0				5.0
	Proceeds of fixed asset sales					10.0	10.0
	Dividends declared
	2.  FIRST-YEAR FINANCIAL  REPORT - ANY CORP INC
	This First-Year Financial Report covers the twelve months to end Jan 2006
	based on detailed monthly projections and assumptions.
	The following table analyses sales and gross margins by
	main product group for the full year:
		Total	Gross	Gross
	Year to end Jan 2006	Sales	Margin	Margin
		$000	$000	% Sales
	Product Group:
	- Group1	287.0	98.5	34.3
	- Group2	266.0	91.4	34.4
	Total	553.0	189.9	34.3
	This shows that Group1 will account for 52% of projected sales
	(52% of total gross margin) and that Group2 will account for the
	balance of 48% of sales (48% of total gross margin).
	The projected overall gross margin is 34%.
	Based on projected sales of $553 000, ANY CORP INC
	expects to report a pretax profit of $11 000 for the year.
	The following table analyses these projections:
	Year to end Jan 2006		$000	% Sales
	Sales		553.0	100
	Cost of sales		363.1	66
	Gross Margin		189.9	34
	Overhead expenses:
	-Operational (indirect)		35.4	6
	-Selling & freight		49.1	9
	-Management/admin staff		33.0	6
	-Administration		21.0	4
	-Occupancy/general		10.2	2
	Depreciation		13.1	2
	Operating lease payments		13.2	2
	Total operating expenses		174.9	32
	Income from operations		15.0	3
	Other income/expenses:
	-Profit (loss) disposal of fixed assets		8.0	1
	-Intangible asset amortization		12.0	2
	-Miscellaneous income		24.0	4
	Total other income (expenses)		20.0	4
	Earnings before interest & taxes		35.0	6
	Interest expense/income:
	-Interest expense		12.0	2
	-Lease interest expense		12.0	2
	-Interest income		0.3	0
	Net interest expense (income)		23.7	4
	Net income before taxes		11.3	2
	Based on detailed monthly projections, the net cash inflow
	for the twelve months will be $44 000. The projected year-end bank
	position will be a $31 000 cash balance.
	The next table compares the projected results with those for
	the previous year which ended in Jan 2005.
	Years ending:		Jan 2005	Jan 2006	Change
			$000	$000	%
	Sales		335.0	553.0	65
	Cost of sales		260.0	363.1	40
	Gross margin		75.0	189.9	153
	Total operating expenses		144.0	174.9	21
	Income from operations		(69.0)	15.0
	Other income, interest expense etc.		(7.0)	(3.7)
	Net income before taxes		(76.0)	11.3
	Taxes			0.8
	Net income		(76.0)	10.5
	Dividends declared
	Transferred to reserves		(76.0)	10.5
	This indicates that sales could increase by $218 000 while
	net income could improve by $87 000 over the year.
	The following table summarizes cashflows for the year by quarter.
				Quarters in Year to Jan 2006			Annual
	Cashflows		1st	2nd	3rd	4th	Total
			$000	$000	$000	$000	$000
	Total cash receipts		155.9	133.0	201.7	231.4	722.0
	Total cash payments		172.2	147.3	191.3	167.5	678.3
	Net cashflow		(16.3)	(14.3)	10.4	63.9	43.7
	Closing cash balance (deficit)		(29.3)	(43.6)	(33.2)	30.7
	The following key assumptions regarding rates etc. were used
	in compiling the projections for the year to end Jan 2006.
	Items		Value	Basis
	Headcount:
	Direct workers		3.1	Avg monthly numbers
	All other staff		5.0	Avg monthly numbers
	Depreciation:
	Land, buildings & improvements		3.0	Annual % rates
	Plant, equipment & vehicles		10.0	Annual % rates
	Interest rates (% pa):
	Cash at bank		4.0	Monthly average
	Short-term loans/line of credit		13.5	Monthly average
	Longterm debt/notes		12.5	Monthly average
	Working capital:
	Accounts receivable (days sales)		47	Based on full-yr sales
	Inventory (days sales)		28	Based on full-yr sales
	Accounts payable (days costs & exs)		20	Based on full-yr costs
	The following key ratios have been derived from the 12-month
	projections for the year ending Jan 2006:
			Max/Min		Full Year
	Ratios		Monthly		or Year End
	Profitability:
	Gross margin (% sales)		39.4	Max Value	34.3
	Net income before taxes (% sales)		21.8	Max Value	2.0
	Current asset ratio (times)		1.1	Min Value	2.0
	Debt/equity (%)		106	Max Value	79
	Sales/total assets (times)				1.7
	Net income before taxes/total assets (%)				3.5
	Projected sales as % breakeven				109
	This table indicates that the following financial indicators
	derived from the detailed projections, may be out-of-line with
	generally-accepted norms:
	* Debt/equity ratio may be too high
	* Net income before taxes/total assets may be low
	3.  THREE-YEAR FINANCIAL REPORT - ANY CORP INC
	This Financial Report covers the three years to the end of Jan 2008. It has
	been based on detailed monthly projections for the first year and
	quarterly projections for the following years.
	The following table summarizes the projected trading performance:
	Years to end Jan	04-05	05-06	06-07	07-08
		Act/Est	Proj	Proj	Proj
		$000	$000	$000	$000
	Sales	335	553	728	1,044
	Cost of sales	260	363	480	668
	Gross margin	75	190	248	376
	Total operating expenses	144	175	212	296
	Income from operations	(69)	15	36	80
	Other income, interest expense etc.	(7)	(4)	38	45
	Net income before taxes	(76)	11	74	125
	Taxes		1	5	10
	Net income	(76)	11	69	115
	Dividends declared			10	25
	Transferred to reserves	(76)	11	59	90
	For the three years under review, sales should change by 212%
	and projected net income before taxes for the third year is $125 000.
	The projected cashflows for ANY CORP INC during the years
	under review are summarized below:
	Years to end Jan	05-06	06-07	07-08
		Proj	Proj	Proj
		$000	$000	$000
	Net cashflows from:
	Operations	10	32	54
	Investing activities	(39)	(20)	(10)
	Financing	73	(8)	(54)
	Increase (decr) cash	44	4	(10)
	The projected cumulative net cash inflow over the three years is
	$38 000.
	The next table shows the projected balance sheets.
	Years to end Jan	04-05	05-06	06-07	07-08
		Act/Est	Proj	Proj	Proj
		$000	$000	$000	$000
	ASSETS
	Current assets:
	Cash	2	31	35	25
	Other	115	127	188	270
	Total Current Assets	117	157	223	295
	Fixed & intang assets	139	167	204	221
	Total assets	256	324	427	516
	LIABILITIES
	Current liabilities:
	Short-term loans/credit	15
	Other	92	80	133	149
	Total Current Liabilities	107	80	133	149
	Total longterm liabilities	38	118	78	62
	Total owners' equity	111	127	215	305
	Total liabilities	256	324	427	516
	The projected change in owners' equity is $194 000 and the
	expected closing net cash position is $25 000.
	The overall projected performance of ANY CORP INC for the years
	under review is assessed in the following table:
	Years to end Jan		05-06	06-07	07-08
			Proj	Proj	Proj
	Gross margin (% sales)		34.3	34.1	36.0
	Net income before taxes (% sales)		2.0	10.2	12.0
	Sales as % breakeven		109	117	127
	Net income before taxes/total assets (%)		3.5	17.3	24.2
	Sales/total assets (times)		1.7	1.7	2.0
	Net debt as percent
	owners' equity (Max=200%)		79	35	21
	Net assets per share ($)		1.23	1.75	2.48
	Earnings per share ($)		0.10	0.61	0.93
	Dividend per share ($)			0.08	0.20
	This table indicates that the following financial ratios may be
	out-of-line with generally accepted norms for one or more years:
	* Net debt as % of owners' equity may be too high
	* Net income before taxes as % total assets may be low