Ann: Completion of DDR Redemption , page-14

Hi Octain,

I don't believe the value of the US$ effects MDT's debt interest costs, as both MDT's income & expenditure are in US$. I'm not aware of any FX hedges, however, I stand to be corrected (***I also believe all capital heges may have been cancelled). In saying that, reducing debt rather than paying distributions is definitely the way to go, particularly when the US$ is so weak.

The weakness in the US$ is definitely having an effect on MDT's SP. Given that we are reducing debt & no distributions are being paid (at least in the interim), this shouldn't really effect the SP.

I maintain that the SP should reach 15c by month's end.

Cheers.

Disc - I'm not a financial advisor, so as always DYOR.