Ann: Response to Media Release, page-26

You have no idea what you are talking about.
What exactly do you mean by "total liabilities" ? The RAD is GOVT GUARANTEED!
Only part of the RAD - $70m - is applied to EHE for development purposes.

Recent annual incoming RAD more or less matches outgoing RAD - as reported end of October
after 4 months they have circa $20m RAD. Ok - I get it -at this rate they get to $60m and
is $10m short.

Big deal!!!!

Even if the shortfall is $50m or even $70m an easy 1 for 10 entitlement offer to
existing shareholders (cutting out the shorting thieves) will cover the replacement RAD shortfall.
In fact, the shorters will be short the entitlements and will have to cover - sooner or later.

The following year - EHE is winding back its development (see report) - there is not the need
to utilise a $70m RAD.

RAD or DAP. In fact, a potential EHE client with an easy $100K+ sitting in bank deposits
is better off using RAD rather than DAP which currently charges at 6.5%!

The bottom line is - Aged Care is a high growth industry. The govt - have some concern with
their increasing funding support - would be crazy to hobble the private sector providers.
Do I have to state the obvious?

You commentary is obfuscating - perhaps that is the intent!

IMHO - shorting EHE is yesterday's trade.