current nta per share is still over 70c, page-11

radekm,

I don't see REU getting 73 cents in the $ for the remaining CRE loans.

The CRE's sold were about 76-80% Last dollar Loan to Valuation.

The remaining CRE's are last dollar to valuation of 85%-90% of the 2007 valuations. They are more risky.

But there is $147m of cre to mature Jan 08 and Jan 09 which would clean up most of the mess, with some forebearance from NAB.

Bleak picture if the loans are not repaid.

The remaining CRE's would be very difficult to sell but maybe easier to collect at maturity.

Dont forget La Defence was to 89% LVE and repaid after the financial meltdown started.

Chin up.