Ann: Net Tangible Asset Backing, page-29

Sorry Harry....I should have outed myself earlier....just had to find somewhere to park
the Bentley....after I drove it into work from Frankston

I can feel the emotion in your posts....what has happened with this fund is unfortunate

Is it criminal...clearly not IMO
Is it unethical...probably not, even lifting the IPO amount is not unethical IMO, but in
hindsight...even management would probably have done things differently...I think they
have said the same...but dont hold me to it I cant find the article

But that is water under the bridge
The main issue we have is with a very big discount to NTA, the discount is because there
are more sellers than buyers, I am on your side....I am a buyer

Part of the reason there are more sellers than buyers is in a small part because of posters
here like yourself and others continually bagging the stock, all I did in my post is to actually
post some facts...dont have a go at me...if I have posted false or misleading facts then I am all ears

At present management can not buy or sell shares in LSF themselves or on behalf of the company
until 28Feb...now I hope that af the half year meeting they put their heads together and come to
a conclusion that an on market buyback is in all holders best interests...and something like at least
10% per year...preferably something like a 200,000 per day order at open or close so everyone can
see that it is them actually buying back the stock...be transperent here

There seem to be a lot of holders with similar feelings as yourself Harry....so it is probably the worst
time to sell at present...and the opposite of that it is probably the best time to buy..just IMO

I feel your pain....but lets hope that time (and good performance) heals that pain

cheers grant