Dear All,

Nobody likes putting up prices, but a couple of points I think do need stating.

1) This is not our second price in a Year, we put our prices up one year ago.

2) We have resisted a further increase during 2006, when indeed most of our competitors raised prices stating the rise in silver ( true enough, $ 6 to $ 7 a troy ounce at the start of 2006 its currently $ 12 a troy ounce )

3) Our costs do, and have risen, especially raw materials, energy and wage costs.

4) We are a privately owned company, the six directors who actually work in the business, own the business, we have no external shareholders.

5) The USA is our biggest market the exchange rate $ to makes big differences to our profitability. The dollar has weakened.

We have always stated that we have to run a viable business FOR THE LONG TERM and therefore in what is still a declining analog silver market we will inevitably have to adjust our pricing at certain times.

Thank you to all who buy and value our products.

Simon ILFORD photo / HARMAN technology Limited.