SHARES IN AUSTRALIA'S VIRGIN BLUE CONTINUE TO FALL.

AsiaPulse News, August, 2004

SYDNEY, Aug 5 Asia Pulse - Virgin Blue Holdings Ltd (ASX:VBA) shares made a hard landing today as the negative fall out from a shock earnings announcement wiped a further A$72 million (US$50.75 million) off its market value.

Analysts criticised the budget airline's performance and cut profit forecasts for Virgin Blue as the share price tumbled to its worst level since the Richard Branson-backed company listed in December last year at $2.25.

After descending 29 cents, or 14 per cent yesterday, Virgin Blue ended down seven cents, or four per cent, at $1.68 today, cutting its market value to $1.72 billion.

The shares, which hit a low $1.66, were the fourth most traded stock on the Australian Stock Exchange with 15.25 million exchanged.

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