Ann: Market Update - Debt Restructure not proceed, page-5

re: Ann: Market Update - Debt Restructure not... $17 Million of the CFS Retail Property Trust was paid early on 29 June 2011 , refer to ASX announcement of that date

The $7million Morgan Stanley was sold for $6.6 million in the December 11 quarter

The only sizable repayments coming up is the Balance the $20million above and the other Morgan Stanley , but not until March 2013. It is pretty slow going from here on.

But saying that the principal debt should be under $50m by March 2013 after the $13m Morgan is repaid. Amortisation of the RMBS some of the qantas loans and a few others makes up the rest of the repayments. Who knows we could have an early repayment or 2 as well

If there are no early repayments or sales subject to the restrictions the pricipal debt wont be extinguished until about June 2014 ( about 2 years) At that time the noteholders would be desparate or a deal with debt that earns no interest.