have time, we will be ok

For the US properties, interest rate is 6.56% with yield of 7.01%, loan without covenant and not due until 2012
For the German properties, interest rate is at 5.22% with yield of 6.57%, loan without covenant and not due until 2011

For Australian properties, interest rate is 7.33% with yield of 6.88%, loan with covenant.

Therefore the only problem we have is the Australian properties, however Australian market is resilience and most likely have already bottomed. Also, the properties held are of very high quality. If management can get yield higher than interest rate and hold onto the properties until mid 2010. Then I think we’ll be ok.

I think the worst have already passed in September and October. Now all we need is for the credit market to ease up.