Montpelier Asset Management


1.		Why did the Investment Manager decide to place the Consulta EMD Fund in Voluntary Liquidation?

		A continuing shortage in the emerging market debt sector offered insufficient growth to meet target returns.

2.		When will the final distribution be made to shareholders?

		The final distribution was made 15th September 2006.

3.		What was the final distribution paid to shareholders on the register as at 31st August 2006?

		Final distribution was $6.0842 per share

4.		What was the annualised performance over the past 11 years?

		The Internal Rate of Return (IRR) was 25.3%