reply from is, page-40

Hi CT

I updated my debt schedule using the revised figures in the Dec08 supplemental report.

I get estimated interest expense per annum of US$175m.

Ive seperated each class of debt into its own group.

That is, CSF debt, Super debt, US reit debt and Aust debt as indicated in the 15 Jan 09 announcement.

This pretty much reconciles with the figures that CER provided in the debt schedule in the 15 Jan 09 ann.

I can email you the revised schedule CT.

As NOI was US$206m for the half year ending 31 Dec 08, we can safely assume that ICR is > 2.

I believe CER has no going concern issues at all nothwithstanding the debt that needs to be refinanced in the next 24 months contrary to what the market may think.

Cheers