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INVESTOR PRESENTATION - Codan

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IN THE EMERGING WORLD....Dominated by AfricaOther regions are Central and Latin America, Asia andEastern EuropeRepresents approximately two thirds of group salesCustomers include:Small-scale gold miners searching for gold as theirprimary source of incomegovernments and NGO’s in need of LMR and HFcommunications solutionsSales into the emerging world have fluctuated fromyear to year but have exceeded $100m in each of thepast 5 yearsHF photo

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