im still alive and still holding, page-16

Hi all

Im back all. Honeymoon was great and now Im raring to go for an exciting financial year ahead! As I said a few months ago mental health issues have been the main reason for my absence on here. Still working through them but doing much much better.

The AUD at 30 June was just over 85 according to the RBA website. For a few reasons, I dont think it will have an adverse affect on the hedging liability because the interest rate differentials between the US and Australia would have resulted in forward rates coming in close to 200 basis points from 1 Jan to 30 June and also 1/3 of the hedges had been closed out as per CER's last notice.

Im not sure if more had been closed out when it got to 93 again a few months ago. Some may have but not material enough to warrant an announcement.

Even if only 1/3 had been closed out, the drop in the AUD would have 1/3 less impact on the hedging liability.

Im going to have a look at the NTA spreadsheet I did 6 months ago and come up with an estimate for 30 June 2010.

With regards to the whole CER/CNP seperation thing, late last year you may recall, I put together some proposals to best extract value from CER for us but my opinion has changed and IMO the best thing to do is NOTHING. We know how much value there is in Super. In time, CNP's negative equity in Super we have in our books will disappear and CER's financials will better reflect the intrinsic value within it.

Keep the faith all and keep up the great work Axlsusie, Nursery, CT et al

Its good to be back

Cheers