defabstar just had a quick look at your calcs thanx for sharing...

defabstar just had a quick look at your calcs thanx for sharing but the current write downs for u.s property portfolios were based on the june 30 2009 exchange rate of 0.8064 therefore the 1.1billion you talk about is really 938 million

check below

756.8/0.8064 = 938.. so 938 plus the 85 or so million = the total A $1023.8 million decline in property valuations according to the announcement out today.

938/2286.4 = 41-42 cents writedown on u.s portfolio

not much difference but every cent counts i guess..

Havent done calcs in full but 40-50 cent range n.t.a is probably not far off...

Also noted today the strong rally in aud after 1pm today.I think if Mr Stevens can continue with his hawkish comments then the aud will really push up in furthur.We may see 90cents soon on the dollar which is a big bonus to cer holders.

cheers