shares trading at record lows, page-3

Nic
There are several large asset sales pending that were mentioned at the CP1 Annual General Meeting including the Paradise Resort at Surfers Paradise (under negotiation and worth approx $80 to $90 million ) which should return a healthy profit an enable a large debt to be repaid to City Pacific and the CBA.

Also there is strong interest by buyers in at one large segment of land at Martha Cove owned by CP1 Ltd. With interest rates dropping I think sales of land will jump.

I noticed that in a letter to FMF unitholders the second tranche of the Foundary has settled which has released a futher $30 million to the FMF. That's a strong positive on this property for the FMF.

If the FMF was restructured to cover a broad range of mortgages incl. Industrial, Commercial, Offices and not property development mortgages it could continue down a more secure path with no major commitments.