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

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.

Ferrier Hodgson, the administrators of Great Southern Limited have announced details of the second creditors meeting along with information regarding the webcast facility.

Notice is given that a webcast facility will be available for the second meetings of creditors of the Group which is being held at 12:00pm (AEST) on Thursday, 19 November 2009 at the Melbourne Park Function Centre, Batman Avenue, Melbourne.

If you would like to watch and listen to the creditors meeting please visit the following link at the time of the meeting.

Creditors Meeting Webcast Facility

For clients invested in the various Great Southern woodlot projects, you would have recently received in the mail, information from Agricola Crop Insurance relating to insurance required for the various woodlot projects.  This follows on from the correspondence McGrath Nichol has sent out to investors in relation to insurance.

By reading through the documentation, insurance that was in place on the various woodlots to cover against fire, hail and windstorm damage expired on 30^th September 2009. Since then, McGrathNicol who are the receivers of Great Southern have been working with Agricola Crop Insurance to provide a solution. An offer of insurance which contained a quotation was included as part of this mailout with the total premium based on the number of woodlots held and the project invested in.

At this stage, we recommend that each investor seriously looks into the option to take up insurance on their investment. Be mindful however that if the offer is taken up, there is no guarantee that premiums paid will be refunded should a new Responsible Entity be found, or in the worst case scenario should the projects be wound up, there is no guarantee that premiums paid will be refunded either. Payment is due by 30^th November 2009.

For consideration, there is a creditors meeting planned for mid November to discuss the offers put forward by potential new Responsible Entities but no date has been locked in as yet. If this meeting does go ahead, there is the ability to wait to see what might happen in relation to insurance before committing.

It might seem like a case of possibly throwing good money after bad but your trees remain and are continuing to grow. With summer fast approaching (and presumably some disgruntled investors out there), insuring the assets that you hold might be a worthwhile exercise!

Once we hear further in relation to the creditors meeting (ie dates) we will let you know. If these are not scheduled until late November there may be insufficient time to see what happens at the creditors meeting and then pay any premium due.

The uncertainty surrounding the tax deductions given to investors in forestry managed investment schemes (MIS) run by Timbercorp and Great Southern has ended, with the Government announcing plans to amend tax law in investors’ favour.

Kailis Organic Olive Groves (KOOG) and Sumich Olive Group of Companies (Sumich) to join forces to seek sustainable solutions for all 5 of the Great Southern olive projects.

Both groups currently manage all the Great Southern olive groves in Western Australia for the projects, totalling more than 2400 hectares of groves. Importantly, they are also party to the olive and olive oil sale agreements, which form the current arrangement by which grower's produce is sold.

It is the intention of KOOG and Sumich to develop joint proposals to be put to growers across the 5 Great Southern olive projects that present a sound, commercially based solution.