Hardship Policy – Update

29 September 2010

Trilogy and Balmain Trilogy are aware that a number of Unitholders are suffering from severe financial hardship and would benefit from hardship relief. To assist those unitholders in need, Trilogy has now sought legal advice to implement a Hardship Policy that would allow for hardship relief without disadvantaging those Unitholders who do not qualify or seek relief. The implementation of a Hardship Policy would require changes to the constitution that would allow for units to be redeemed to ensure the underlying value per unit would be maintained and is subject to ASIC approval. The nominated changes to the constitution are allowed to be made in Trilogy’s capacity as the Responsible Entity of the Fund.

We have sought for an urgent determination of the Fund’s Hardship Policy by ASIC. Further details regarding the Hardship Policy will be provided once relief from ASIC is obtained.