Cedar Woods and distribution of Franking Credits

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<ul>
<li>G'day Fellow Shareholders,</li><li>
According to my calculations our
Company could support a special dividend of $2-61 per share on the
amount in the 2018 franking account.  I have suggested to you previously
that the most equitable way to distribute this money is by the ARB
company method.
The four wheel drive company, and they did this a couple of years back.
Roger Brown, the CEO, at ARB would be more than happy to discuss their
methodology with you.<br>

</li></ul>
         Hoping to receive a positive response to this email.</div>
<div>John
<div>0481 095 455</div>