immediate turnaround, page-19

OK - had a quick read of the report.

Here's how it works.

Sales a retailer store level also reflect $/GLA. The more money an amalgamation of specialty and major stores take, the greater the value of the holdings. ie: Rent reviews = increased rent based on increased sales PLUS net value of property portfolio. A 1% increase is significant at this retail level. Clearly the Australian operation continues to deliver and is shored up. AS a shareholder, your company is deriving increased reveune. It's centres are attractive and will have a lower than market vacancy rate, higher than market rents and above average sales and property market vaue. These are very good stats adn when I get a chance later, I'll give a mor ein depth on them.

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