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T3

Got my T3 offer in the mail, being an existing shareholder.

Honestly, can anyone suggest a good reason for buying T3?

Shares are being sold at their market price in November. I note that the price is not capped, as is common in these cases. While some people point out that this means that you commit to buying without knowing the final price, it seems more of an indicator that no one expects that the shares will rise in value by then.

There are two "sweeteners". The first is a promise of a 28c fully franked dividend. But this is subject to caveats about the government no fiddling with the regulations - which it has promised to do. It is a good deal for retirees and people who are not taxpayers - not me. mainly, though, a high yield is a sign of a slumped share price. The other is one bonus share for each 25 purchased if they are held until 15 May 2008.

The bottom line is whether I can find better places to invest money.