Ann: Chairman and CEO Presentation to AGM, page-13

Hi Frugs, given your so bullish on dcl why dont you give us a working example of how you think the platform might work on a $1m apartment in Castle Hills with a ror of 3-4% gross geared at 60%. Im not sure how it stacks up without negative gearing. Happy for you to show how the model works. I think the concept is good with bank market interest rates. However they are not on offer, nor in my view can be.The Future Value looks like its discounted by the Present Value calc. The net result doesnt look flash, IMO.