Ann: Capital Management Update, page-12

Hi SatinTape,

We don't disclose all details but happy to disclose that which is pertinent, compliant and commercially sensible to do so.

On your questions:

1. No fees were paid for the origination or brokering of the loan.  Fees paid to those outside of ECT in the course of completing the loan was <$1000.  All other costs were internal (example time of ECTF staff, lawyers etc)

2.  Which total calculations are you referring to?

3. There are a number of default conditions that occur which are the subject of commercial in confidence, but needless to say, we would seek to address the impact of this event at the time but will likely alert shareholders and the market of any material shift related to this loan.  Plus, it will be reported through the statutory accounts for Dec31 and June30 balance dates before expiry.

4.We won't disclose that but more importantly, we do disclose the security backing to that loan.