It seems asbestos claims against James Hardie won't go away. A few years ago, the company set up a trust with almost $300m, supposedly enough to meet any future compensation claims and a little extra to boot. Now it seems that the amount set aside might be a couple of hundred million dollars short. The company should be in a position to provide more details by the end of June. Until that time, and with the price little changed since issue 143/Jan 04 (Hold for the Upside-$6.60), we recommend you HOLD FOR THE UPSIDE.