VODAFONE DIVIDEND

RICHARD M. TAYLOR,

Sir, - This morning I received a dividend for my share in Vodafone. By my reckoning the cost of sending me this "private and confidential" letter was just over four times the value of the dividend. And yes, I will keep it in a safe place for my next income tax returns. - Yours, etc.,

RICHARD M. TAYLOR,

Castle Park,

Monkstown,

Co Dublin.