Securinvest Financial Planners

In recent months you may have received communication from a number of different law firms relating to class actions being initiated against Great Southern, its Directors, related companies and “connected financiers” such as Bendigo and Adelaide Bank.

At Securinvest, although we do receive copies of communications relating to the projects we personally hold in Great Southern, there are times however when information is sent to you which we are unaware of. We have contacted these firms and have asked to be added to their database to ensure we keep abreast of the communication you currently receive.

The purpose of this letter is to provide an overview of the various parties and the class actions that we are aware of. There are likely to be some costs involved but purely through the weight of numbers, this is a cost effective way to be part of any action that pursues those who may have provided either inaccurate or misleading information upon which the initial recommendation and investment was made.

As it currently stands, you may have received  communication from:

1. Macpherson & Kelly, a Dandenong based legal firm whose

   Attachments:

   2009 06 09 Update letter to investors (D1013209).PDF	[ ]	263 Kb
   2009 06 22 M K Update for MIS investors (D1021481).PDF	[ ]	279 Kb
   2009 06 26 Update to Investors - to 1st base beyond (D1025168).PDF	[ ]	150 Kb
   2009 07 06 Update to MIS investors (D1031089).PDF	[ ]	143 Kb
   2009 07 20 Update letter to investors (D1041509).PDF	[ ]	343 Kb
   2009 07 24 Update letter to Investors (D1046355).PDF	[ ]	181 Kb
   2009 08 05 Update for Investors (D1055476).PDF	[ ]	222 Kb
   2009 08 13 M K Update for Investors (D1062385).PDF	[ ]	207 Kb
   2009 09 22 M K Update for Investors (D1093404).PDF	[ ]	1641 Kb
   2009 10 28 Update Letter for Investors (D1120164).PDF	[ ]	327 Kb
   2009 11 20 Update to investors - Timbercorp and Great Southern (D1136527).PDF	[ ]	593 Kb
   2009 12 21 Update for investors Timbercorp and Great Southern (D1158839).PDF	[ ]	211 Kb
   2010 02 15 Update letter for investors (D1186051).PDF	[ ]	291 Kb

AMP - Oliver's Insights

Key Points

• Shares have fallen over the last week on the back of concerns about China’s tightening, the regulation of banks in the US and sovereign risk.
• This is consistent with our expectation for rougher and more constrained gains in share markets this year after the strong rebound from March 2009. Notwithstanding increased volatility, rising earnings are likely to underpin a rising trend in shares this year.
• The experience of 2004, when US shares spent nine months stuck in a range, and when Asian shares, some commodities and the Australian dollar had a decent correction but all within the context of a still rising trend, is a reasonable guide as to what to expect this year.

As you would be aware, the Creditors Meeting for Great Southern and its related companies was held last week on Thursday 19th November in Melbourne.

At the meeting, it was voted to liquidate 27 of the 35 companies that make up the Great Southern group. The fate of the remaining 8 companies will be decided at a meeting in Perth in the coming weeks.