Request From Jefferies: Exhibit Patience On WMS Industries

Jefferies & Co. has published a research report on WMS Industries

in anticipation of company sales that are expected to ramp up throughout FY2011. In the report, Jefferies writes "We are revising our FY11 and FY12 unit sales and quarterly and full-year estimates to reflect a more gradual build-up in the company's ship share and resulting earnings momentum. While our FY11 full-year unit sales for domestic and replacement units remain the same at 17,860 and 15,200, respectively, we are reflecting 40% of the total units sold in 1HFY11 versus 43% previously. Our full-year 2012 domestic and replacement unit expectations remain the same at 19,640 and 16,340, respectively." Jefferies maintains its Buy rating and $52 price target. WMS Industries closed yesterday at $39.96.