fee cut offer put to centro owners..., page-6

Hi buffett,

Thank you for your comments; much appreciated!

Management Rights are for a period of time, therefore a diminishing asset & we want CNP & CER to remain strong so that we can roll-over these rights.

I would make mention tho that specific to Coffs Harbour, I don't think Centro would want a precedent by losing this one. Coffs Harbour is quite a good looking property and it's in a very strong regional location where it will probably be the only shopping centre for quite some time yet IMO.

Pelorus Property Group have also signalled that they are interested in taking on up to 10 M/R's. Hopefully we have much smarter & more strategic thinkers at Centro than they do at PPI. Hmmm, not sure if I have argued this very well per se but you get my meaning.

Cheers, Pie :-)