Sydney - Friday - August 29: (RWE Aust Business News) -...

Sydney - Friday - August 29: (RWE Aust Business News) - Record
Realty Trust (ASX:RRT) has negotiated a standstill arrangement with BOS
International.
Financial covenants contained in the RRT corporate facility which
may have been breached as a result of the reduction in valuations at 30th
June 2008 will not be tested during the period 30th June 2008 to 31st
December 2008 and during the standstill period, BOS will waive any events
of default, potential events of default and review events under financed
asset level facilities if such events occur as a result of a decrease in
the valuation of that asset.
To secure the arrangement, RRT will incur a fee of $4.13 million
which will be paid from part of any sale proceeds received from its
announced asset realisation program.
The standstill arrangement may be extended to the maturity of the
RRT corporate facility of 19th July 2009. An additional fee of up to
$4.13 million will be incurred at that time.
The results of the 30th June 2008 valuations will be announced as
part of the forthcoming 2008 annual results