re:charity acquiring stock, page-19

Hello Biggle,

There are many possible outcomes between now and when the 29 April 2009 liability may crystalise for unitholders on that date (only).

And we also note that if there is any shortfall in meeting the liability on 29 April, then of course the Underwriters will step in to meet the commitment, and there will then be a Public Auction of the forfeited units on or around 4 June 2009 [see ASX 9 Dec 2008 BCSCA announcement Fact Sheet para 18] -- at which time the long-term value of the project may well have improved in line with the views we share with others (including BrisConnections themselves) on the investment fundamentals of the project.


http://www.barrow.org.au/

David C. Barrow, Trustee, The Julie Anne Barrow Charitable Trust