February 15th, 2007

Although the $4 billion compensation fund intended for James Hardie to compensate asbestos victims has received the necessary backing and approval from shareholders at a recent meeting in Amsterdam, many are warning victims that are awaiting compensation for their injuries not to get too excited.

The Asbestos Injuries Compensation Fund has been set up to enable James Hardie to compensate those that have suffered asbestos related diseases through exposure to this carcinogenic substance through James Hardie products. Four billion dollars is to be pumped into the fund over a period of 40 years, and the first payment of nearly $185 million has already been made by James Hardie.

One victim who is currently recovering from a cancer operation stated: "I'll believe it when the money is in the bank. They've come up smelling of roses now but they're still a bunch of ratbags who've dragged us through hell and back for the past 12 years."

Leading lobbyist for victims, Bernie Banton, stated: "This is unprecedented around the world that we have been able to secure this funding and to leave the company in a position so it can grow. I always believed good would triumph over evil and we have been able to accomplish that with the support of so many people."