who owns the land, page-31

The Timbercorp Agribusiness Trust (TAT) –unlisted bond holders

The Timbercorp primary infrastructure fund (the Fund), formerly called the Timbercorp agribusiness Trust, was launched in september 2005 to acquire agricultural properties, including associated infrastructure and permanent water rights, for use in agribusiness projects.
The investment strategy of the fund is to provide an attractive yield and capital growth to investors by investing in agricultural property and infrastructure, underpinned by long term leases to Timbercorp Limited (Timbercorp), an s&p/asX 00 company and one of australia’s leading agribusiness investment managers. please note that returns are not guaranteed.property selection in the fund is limited to agricultural properties which have proven, large scale operations, permanent water rights, are located close to their water source and where best practice land and agricultural management are in place.
The fund currently owns the following properties with a total value of $166. million, each of which includes substantial
permanent water licences:
(a) solora south – a citrus property of 313 planted hectares, located in south australia, which was acquired in september 005.
This property comprises approximately 133,000 trees, extensive irrigation infrastructure and 4,36 megalitres of permanent water rights;
(b) Liparoo - an almond property of 1,004 planted hectares, located in Victoria, which was acquired in september 005. This property comprises approximately 51,000 trees, extensive irrigation infrastructure and 1 ,646 megalitres of permanent water rights; and
(c) yungera - an almond property of ,84 planted hectares, located in Victoria, which was acquired in may 006. The property comprises approximately 710,500 trees, extensive irrigation infrastructure and currently has 9,863 megalitres of permanent water rights.