letter, page-2

I have seen a copy via email.

Part of it says

"The Fund Auditor, Price Waterhouse Coopers, has completed the Fund’s interim report for

the half year ended 31 December 2007.

The report notes;

• A breach of a ratio covenant of loan facility with a third party bank resulting in interest bearing liabilities of $184 million becoming repayable on demand as at 31 December 2007 (discussed further below under ‘’Loan Facility Agreement”);

• Uncertainty surrounding MFS Limited and its related entities which has impacted the recoverability of certain assets of the Fund."