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Deloitte, Actuaries and Consultants, have provided the methodology for calculating performance of the Harper Bernays Charitable Trust, and have validated its logic and appropriateness. The Co-Trustees meet formally at least twice a year to review the performance and investment strategies of the Trust.

Performance is measured on both a capital growth, and gross and net yield basis. The performance for the Harper Bernays Charitable Trust to 31 December 2009 is shown below.

Capital Growth since inception

	FY 2009	FY 2008	FY 2007	Since inception (1 July 2006)
HB Charitable Trust pre fees	(17.3%)	(17.6%)	30.2%	14.1%
All Ordinaries Price Index	(26.0%)	(15.5%)	25.0%	(3.3%)

Income Yield Growth since inception

	FY 2009**	FY 2008*	FY 2007*
Gross Yield	7.2%	9.6%	9.4%
Net Yield	5.5%	7.2%	7.0%

* Actual
** Pro rata for 12 months to 30 June 2009

Performance figures quoted above are calculated on total funds of the Harper Bernays Charitable Trust over the selected time periods. All calculations are made using the time weighted method to account for the timing of capital movements. Inception refers to the commencement of operations on 1 July 2006. Performance figures are quoted before the deduction of management fees but after brokerage. The Benchmark Indices are calculated, pre-brokerage and pre-fees. The range in performance of individual clients will vary from the aggregate figures quoted above. Professional Financial Solutions Pty Ltd, an independent firm of actuarial consultants, have reviewed the accuracy of the performance shown for Harper Bernays Charitable Trust. Harper Bernays is a licensed dealer in securities. The company and its representatives do not in any way guarantee future performance.