my revised nta calc arrives at 1.711, page-27

Guys I may have stumped investor services.....

They may have said too much

Would love to see what they say....

Looks like additional debt has been refinanced


Hi Alicia

Thankyou for your prompt response.

The announcement say facilities of $1.1b will be converted into term loans maturing on 31 December 2010.

I have the following 2 questions:

1) Is there an additional $200m that will be converted into term loan maturing on 31 December 2010?
You mention "Facilities of US$1.3 billion associated with Super LLC will be converted into term loans maturing on 31 December 2010 "

2) Does the $1.3b include the following debt:

$107.3 - Galileo America LLC - Non super LLC


$1.3b associated with SuperLLC would include the following debt:

$664.7 - Bank Bridge Loan - Super LLC

$21.8 - The centre at Preston Ridge - SuperLLC

$252.3 - Revolving credit facility - Super LLC

$361.7 - Super LLC

Total $1.3b

3) Has the $107.3 Galileo America LLC debt been refinanced and if so what are the terms and conditions of the refinance.

Kind regards,


Behalf Of Investor Services
Sent: Monday, 22 December 2008 11:15 AM
To:
Subject: RE: Query


Hi xxxxx,



Facilities of US$1.3 billion associated with Super LLC will be converted into term loans maturing on 31 December 2010 and a facility of US$370 million will be provided to Super LLC by the existing US lenders. This facility will be used primarily for the repayment of indebtedness and will provide additional liquidity (please see page two of the announcement made on the 16th of December).

If you have any further queries, please contact Investor Services on 1800 802 400 or email [email protected].

Kind regards,

Alicia on behalf of the Investor Services Team

| Centro Investor Services | Centro Properties Group |
| Toll Free: 1800 802 400 | Fax: +61 3 8847 1868 |
| www.centro.com.au | [email protected] |
| Corporate Offices, 3rd Floor | Centro The Glen |
| 235 Springvale Rd | Glen Waverley VIC 3150 |

|


--------------------------------------------------------------------------------

From:
Sent: Monday, 22 December 2008 9:57 AM
To: Investor Services
Subject: RE: Query



Hi Alicia



What does the $1.1b that was extended from 30 Sep 2008 to 15 Dec 2008 and is now subject to further extensions (refer to 16 Dec ann), consist of? I believe the supplemental report on 29 August shows shows these extension facilities as follows:



$664.7 - Bank Bridge Loan - Super LLC

$21.8 - The centre at Preston Ridge - SuperLLC

$252.3 - Revolving credit facility - Super LLC

$107.3 - Galileo America LLC - Non super LLC

$44.7 - Southland Shopping Centre - Non Super LLC



Total: $1,090million



Now, there was $361.7m due on 1/10/08 for Centro NP Residual Holdings. This was Super LLC debt.



As this does not make up the $1.1b that is now subject to further extensions can we assume that this $361.7 has been refinanced successfully as we have not heard otherwise?



Also there was a $370m cash advance facility due on 2 Dec 2008. Can we now assume was refinanced successfully also as we have not heard otherwise?



This is pretty significant as SuperLLC debt that was due on 1 Oct in amount of $360m has been refinanced successfully yet no announcement has been made.



Why has no announcement been made in relation to these externsion?



What are the terms and conditions of these extensions?



Regards,