GRENFELL SECURITIES LIMITED

Grenfell First Mortgage Fund – debenture stock

Exemption Date – 31 October 2008

ACTUAL INCOME AND ASSET DETAILS TO BE HELD

Note : Basis for Asset Value estimations listed in the table above as follows :

Original estimated return of 60% announced from effective date 31 October 2008.

7.5% of the face value of the original investment amount was paid on 4 December 2009, thereby reducing the remaining estimated return to 52.5% (i.e. original estimate of 60% minus 7.5% capital paid = 52.5% remaining).

12.5% of the face value of the original investment amount was paid on 29 June 2010, thereby reducing the remaining estimated return to 40% (i.e. original estimate of 60% minus 7.5% capital paid minus 12.5% capital paid = 40% remaining).

5.0% of the face value of the original investment amount was paid on 8 December 2010  thereby reducing the remaining estimated return to 35% (i.e. original estimate of 60% minus 7.5% capital paid minus 12.5% capital paid minus 5.0% capital paid = 35% remaining).

Revised estimated return of 52% was announced on 10 June 2011, thereby reducing the remaining estimated return to 27% (i.e. new estimate of 52%  minus 7.5% capital paid minus 12.5% capital paid minus 5% capital paid = 27% remaining).

8.0% of the face value of the original investment amount was paid on 9 December 2011, thereby reducing the remaining estimated return to 19% (i.e. last estimate of 52% minus 7.5% capital paid minus 12.5% capital paid minus 5.0% capital paid minus 8.0% capital paid = 19% remaining).

7.0% of the face value of the original investment amount was paid on 19 April 2012,  thereby reducing the remaining estimated return to 12% (i.e. last estimate of 52% minus 7.5% capital paid minus 12.5% capital paid minus 5.0% capital paid minus 8.0% capital paid minus 7.0% capital paid = 12% remaining).

Revised estimated return of 45% was announced on 15 November 2012, thereby reducing the remaining estimated return to 0% (i.e. new estimate of 45% minus 7.5% capital paid minus 12.5% capital paid minus 5.0% capital paid minus 8.0% capital paid minus 7.0% capital paid = 5.0% remaining).

5.0% of the face value of the original investment amount was paid on 26 November 2012, thereby reducing the remaining estimated return to 0% (i.e. last estimate of 45% minus 7.5% capital paid minus 12.5% capital paid minus 5.0% capital paid minus 8.0% capital paid minus 7.0% capital paid minus 5.0% capital paid = 0.00% remaining).

Revised estimated return of 47% was announced on 20 June 2013, thereby increasing the remaining estimated return to 2% (i.e. new estimate of 47% minus 7.5% capital paid minus 12.5% capital paid minus 5.0% capital paid minus 8.0% capital paid minus 7.0% capital paid minus 5.0% capital paid = 2.0% remaining).

Revised estimated return of 46% was announced on 4 December 2013, thereby reducing the remaining estimated return to 1% (i.e. new estimate of 46% minus 7.5% capital paid minus 12.5% capital paid minus 5.0% capital paid minus 8.0% capital paid minus 7.0% capital paid minus 5.0% capital paid = 1% remaining).

4.24% of the face value of the original investment amount was paid on 17 June 2014, thereby reducing the remaining estimated return to 0% (i.e. new estimate of 46% minus 7.5% capital paid minus 12.5% capital paid minus 5.0% capital paid minus 8.0% capital paid minus 7.0% capital paid minus 5.0% capital paid = 1% remaining minus 4.24% capital paid = 0% remaining).

You must find out how the capital return was reinvested or disposed of prior to reducing the asset value of the existing Grenfell First Mortgage Fund debenture as at the date of each capital return.

The Liquidator has advised there will be no more distributions to come.

Therefore, you may now delete the Grenfell First Mortgage Fund Debenture Stock investments from the DVA assessment from 17 June 2014.

Grenfell General Fund – debenture stock

Exemption Date – 31 October 2008

ACTUAL INCOME AND ASSET DETAILS TO BE HELD

Note : Basis for Asset Value estimations listed in the table above as follows :

Original estimated return of 35% announced from effective date 31 October 2008.

7.5% of the face value of the original investment amount was paid on 4 December 2009, thereby reducing the remaining estimated return to 27.5% (i.e. original estimate of 35% minus 7.5% capital paid = 27.5% remaining).

2.5% of the face value of the original investment amount was paid on 13 April 2011, thereby reducing the remaining estimated return to 25% (i.e. original estimate of 35% minus 7.5% capital paid minus 2.5% capital paid= 25% remaining)..

Revised estimated return of 32% was announced on 10 June 2011, thereby reducing the remaining estimated return to 22% (i.e. new estimate of 32% minus 7.5% capital paid minus 2.5% capital paid = 22% remaining).

2.5% of the face value of the original investment amount was paid on 9 December 2011, thereby reducing the remaining estimated return to 19.5% (i.e. latest estimate of 32% minus 7.5% capital paid minus 2.5% capital paid minus 2.5% capital paid = 19.5% remaining).

8.0% of the face value of the original investment amount was paid on 16 April 2012, thereby reducing the remaining estimated return to 11.5% (i.e. latest estimate of 32% minus 7.5% capital paid minus 2.50% capital paid minus 2.5% capital paid minus 8.0% capital paid = 11.5% remaining).

Revised estimated return of 23.5% was announced on 15 November 2012, thereby reducing the remaining estimated return to 3% (i.e. new estimate of 23.5% minus 7.5% capital paid minus 2.5% capital paid minus 2.5% capital paid minus 8% capital paid = 3% remaining).

2.0% of the face value of the original investment amount was paid on 26 November 2012, thereby reducing the remaining estimated return to 9.5% (i.e. latest estimate of 23.5% minus 7.5% capital paid minus 2.50% capital paid minus 2.5% capital paid minus 8% capital paid minus 2% capital paid = 1% remaining).

Revised estimated return of 26.5% announced on 20 June 2013, thereby increasing the remaining estimated return to 4% (i.e. new estimate of 26.5% minus 7.5% capital paid minus 2.5% capital paid minus 2.5% capital paid minus 8% capital paid minus 2% capital paid = 4% remaining).

4.0% of the face value of the original investment amount was paid on 28 June 2013, thereby reducing the remaining estimated return to 0% (i.e. latest estimate of 26.5% minus 7.5% capital paid minus 2.50% capital paid minus 2.5% capital paid minus 8% capital paid minus 2% capital paid minus 4% capital paid = 0% remaining).

Revised estimated return of 27.5% announced on 4 December 2013, thereby increasing the remaining estimated return to 1% (i.e. new estimate of 27.5% minus 7.5% capital paid minus 2.5% capital paid minus 2.5% capital paid minus 8% capital paid minus 2% capital paid minus 4% capital paid  = 1% remaining).

Revised estimated return of 30.25% was announced on 6 October 2015, thereby increasing the remaining estimated return to 1% (i.e. latest estimate of 30.25% minus 7.5% capital paid minus 2.5% capital paid minus 2.5% capital paid minus 8% capital paid minus 2% capital paid minus 4% capital paid = 3.75% remaining).

3.75% of the face value of the original investment amount was paid on 6 October 2015 thereby reducing the remaining estimated return to 0% (i.e. new estimate of 30.25% minus 7.5% capital paid minus 2.5% capital paid minus 2.5% capital paid minus 8% capital paid minus 2% capital paid minus 4% capital paid minus 3.75% capital paid = 0% remaining).

You must find out how the capital return was reinvested or disposed of prior to reducing the asset value of the existing Grenfell First Mortgage Fund debenture as at the date of each capital return.

The Liquidator has advised there will be no more distributions to come.

Therefore, you may now delete the Grenfell First Mortgage Fund Debenture Stock investments from the DVA assessment from 6 October 2015.