Ann: Estimated Distribution - June 2009 , page-26

Hi plough,

Regarding distributions...I checked with someone else in the stock mkt industry who confirmed GJT have to pay the divy as they are a trust so now I am confused given what you said about BEC & RNY. :)

Hi pwu...yep GJT are making profits - that has never been the problem...and in comparison to many REITS...GJT is pure vanilla, which is what makes the "hard ball" approach taken by the Japanese banks so much harder to swallow. It seems everytime GJT share price stabilises, we get a nother whack across the head.

But they are profitable and have free cash flow (which is now subject to cash trap)...but also...it is reducing the debt incrementally all the time.

I don't like that last announcement about having to top up the Trust account, though. We have a long hard road ahead of us.

Coop