Hi Tanny,Here is the announcement today.I still hold - results...

Hi Tanny,
Here is the announcement today.
I still hold - results tomorrow.
I remain confident that NTA will still be a lot higher than current sp.

_________________________________________
27 August 2008
The Manager
ASX Limited
20 Bridge Street
SYDNEY NSW 2000
Record Realty Trust (ASX: RRT)
The Directors of Record Funds Management Limited (RFML), as Responsible Entity of Record Realty Trust (RRT), note the announcement made today by Allco Max (AXQ) on the Australian Securities Exchange (ASX).
The Allco Max announcement refers to the draft property valuations provided to Allco Max in their capacity as Lenders in respect of both the ASX Building, 20 Bridge Street, Sydney and the Workcover Head Office, 92 Donnison Street, Gosford.
As previously advised (ASX announcement 8 July 2008), independent valuers have been appointed to conduct revaluations of the majority of properties in the RRT portfolio, the results of which will be announced with the forthcoming annual result. The indicative values obtained, which are currently being finalised, showed that the valuations will be lower than the last valuations at 31 December 2007 and therefore may cause issues under financial covenants.
In anticipation of RFML Board approval for the valuations, RRT is well advanced in its discussions with its major financier, BOS International (Australia) Limited (BOSI) regarding arrangements to work through a potential breach of any financial covenants under the relevant financing arrangements. Similarly, RRT has already endeavoured to, and is hopeful of shortly commencing commercial discussions with Allco Max to consider and agree a mutually beneficial position that may be put in place to work through any breaches of the financing arrangements.
Investors will be notified as and when any material developments occur.
Yours sincerely,
RECORD FUNDS MANAGEMENT LIMITED
as Responsible Entity for Record Realty
Tom Lennox
COMPANY SECRETARY