SHAREHOLDER RETURNS

For the period ending	31 Oct 2008	31 Jul 2008	31 Jul 2007	31 Jul 2006
	(3 months)	(12 months)	(12 months)	(12 months)
Opening net assets per share *	$3.82	$4.71	$3.87	$3.16
Closing net assets per share *	$3.44	$3.82	$4.71	$3.87
(Decrease) / increase	($0.38)	($0.89)	$0.84	$0.71
+ Ordinary dividends paid	$0.05	$0.10	$0.10	$0.07
+ Special dividends paid	-	$0.10	-	$0.03
Total return	($0.33)	($0.69)	$0.94	$0.81
Total return %	(8.6%)	(14.6%)	24.3%	25.6%
ASX Accumulation Index	(20.0%)	(15.6%)	29.7%	18.7%

* Before allowing for tax on unrealised gains

20 YEAR COMPARATIVE GROWTH OF $1000 INVESTED