The Lonsec Limited ("Lonsec") ABN 56 061 751 102 rating (assigned September 2007) presented in this document is limited to "General Advice" and based solely on consideration of the investment merits of the financial product(s). It is not a recommendation to purchase, sell or hold the relevant product(s), and you should seek independent financial advice before investing in this product(s). The rating is subject to change without notice and Lonsec assumes no obligation to update this document following publication. Lonsec receives a fee from the fund manager for rating the product(s) using comprehensive and objective criteria.

Zenith's ratings are prepared exclusively for clients of Zenith Investment Partners (Zenith). The rating is of a general nature and does not have regard to the particular circumstances or needs of any specific person who may read it. Each client should assess either personally or with the assistance of a licensed financial adviser whether the Zenith rating or advice is appropriate to their situation before making an investment decision. The information contained in the rating is believed to be reliable, but its completeness and accuracy is not guaranteed. Opinions expressed may change without notice. Zenith accepts no liability, whether direct or indirect arising from the use of information contained in the rating. No part of this rating is to be construed as a solicitation to buy or sell any investment. Zenith usually receives a fee for rating the fund manager and product(s) against accepted criteria considered comprehensive and objective.

To the extent that any ratings, opinions or other information of Standard & Poor's Information Services (Australia) Pty Ltd (ABN: 17 096 167 556, Australian Financial  ervices Licence Number: 258896) ("Standard & Poor's) constitutes general advice, this advice has been prepared by Standard & Poor's without taking into account any particular person's financial or investment objectives, financial situation or needs.  Before acting on any advice, any person using the advice should consider its appropriateness having regard to their own or their clients' objectives, financial situation and needs. You should obtain a Product Disclosure Statement relating to the product  and consider the statement before making any decision or recommendation about whether to acquire the product.  Past performance is not a reliable indicator of future  performance.  Ratings can change or cease at any time and should not be relied upon without referring to the meaning of the rating.  For more information regarding ratings please call S&P Customer Service on 1300 792 553 and also refer to Standard & Poor's Financial Services Guide at www.assirt.com.au. Each analytic product or service of Standard & Poor's is based on information received by the analytic group responsible for such product or service"S&P" and "Standard & Poor's" are trademarks of  The McGraw-Hill Companies, Inc.(c) 2009 Standard & Poor's Information Services (Australia) Pty Limited.