mfs relisting, page-31

tuart

the income from Stella will be little if any to start with at best.

Responsible Entity and management income I think amounts to around $16 mil or 2% of managed funds per year. Funds will flow out at a very fast rate so there won't be much ongoing residual income from this source.

Another $130 mil from up valuing assets as they are purchased and moved into fund raising trusts- that is no longer there.

MFS Diversified Trust _ GEO income negligible if any
MFS Leisure & Living - negative
MFS NZ - negative

The following have probably been used as fund raising vehicles with assets that are most likely on the market to be sold to reduce the debt:MFS PERFORMANCE NOTES LIMITED,
MFS LEVERAGED INVESTMENT LIMITED, MFS FINANCIAL SERVICES LIMITED, MFS PROPERTY LIMITED

MFS INVESTMENT NOTES LIMITED - $348 mil/Public Trustee concerned there is not enough to cover $280 mil.

Then there are the long term notes that Challenger is suing for for $100mil which has become due now rather than in 2011 etc.