arl broke?, page-9

From the Ms Hutson spiel in Melbourne 2008 Jadel "we decided to commit to this fund for the long term and you will hear me so many times

today, if it is your will, I will be here in 2 years, 5 years and 10 years and it will be a very

proud day when I can put a dollar back in your pocket.

erosion of value and I will speak more fully about why that has occurred, the valuation work

that we have done to come to this position where we think if we can hold it together for all

the right reasons that a unit in this fund is on a going concern basis worth between 45 cents

and 65 cents and with the right team in place it is our aim within 3 to 5 year timeframe to

return that value to a dollar whilst along the way recommencing distributions which we plan

to do in October once we have had the opportunity to repay the bank debt and collect

additional cash from investments that come up in that period. So the Premium Income Fund

has been a great fund and for all the right reasons you were attracted to it we need to endure

this hardship and return it to its rightful place in the Australian market."

Ms Hutson failed miserably in her forward projections for the PIF, did Wellington Capital ltd deliver on anything they committed to???