Wilson Investment Fund Ltd (WIL) is a medium to long-term...

Wilson Investment Fund Ltd (WIL) is a medium to long-term investor. The NTA before tax as at 31 May 2007 was 140.08 cents per share. The NTA after tax on realised gains and before tax on unrealised gains as at 31 May 2007 was 139.85 cents per
share. WIL is a long-term investor and does not intend disposing of its total portfolio. If estimated tax on unrealised portfolio gains were to be deducted, the above figure would be 128.46 cents
per share. NTA before tax 140.08c
* NTA after tax and before tax on unrealised gains 139.85c
* NTA after tax (including unrealised gains tax) 128.46c*
* After the payment of a final dividend of 2.75 cents a share fully franked, paid on 27 April
2007.

DIVIDENDS

The interim dividend of 2.75 cents a share fully franked was paid on the 27 April 2007.

MARKET OUTLOOK

In what has become the norm rather than the exception in this bull market, the All Ordinaries Accumulation Index rose by more than 3% last month. The market strength in recent months
has come from the Resources sector. Investors have become increasingly comfortable in the
resources boom continuing for several years to come. We remain extremely cautious with valuations becoming stretched.