ilf feedback

Thought you would be intersted in some feedback from ILF.

My email in :

Shareholder Suggestion

I have emailed you in the past and i suspect it will make no difference again.

I am naturally disappointed in the ILF SP. However what hurts more is the passive way you market yourself. Rarely do you do ASX updates outside statutory ones. It would be good if you could be more proactive in selling you successes and +ve points. In todays market, what you said last week doesn't matter if some shock occurs. You have to keep on doing it.

Any hope for us long suffering shareholders of ILF being more dynamic ?

Their reply :
Thank you for your comments and that has been relayed to the Fund CEO, Simon Owen. On his behalf, I would like to say we are disappointed with the unit price performance but are working hard to address this. I have attached a copy of the Fund?s recently announced 31 Dec 09 Half Year Presentation (released to the market on 26th February). As illustrated in the ?Overview? slide on page 4, we have been busy working on asset sales, portfolio reviews and negotiations with our lender on loan refinancing. As you will appreciate, the market sensitivity of many of these transactions that we were juggling with in those few months has limited our ability to update our unitholders anymore frequently that we would have liked to. Therefore we were selective in only updating you with credible announcements where possible.

Since Simon came onboard last November, we have been very proactive in promoting the Fund to new investors and visiting numerous institutions and brokers to generate more market interest in ILF. The best way to get the unit price moving however, is to improve the operational and financial performance of the Fund. If I may refer you back to our half year presentation in the ?Portfolio Update? sections, we are working the portfolios harder with new developments, village conversions and more targeted marketing, all in an effort to drive occupancy growth and cashflow generation. With the Fund?s Australian refinance complete, pending settlement of major asset sales, and our continued prudent capital management initiatives, we are confident this will aid in improving the financial performance of the Fund and will hopefully have a positive effect on the unit price in the near future.

We will endeavour to keep you updated you with our progress.



Cheers