APIR: RFA0028AU, ARSN: 097 575 730

BTIM advises that 26.0518 cents per unit will be paid to investors in the next few days, representing the third return of capital. This distribution represents 44.0%* of the value of the Fund as at 31 October 2009.

Following this distribution, a cumulative total of 73.6% of the value of the Fund, as measured by its value as at 30 April 2009 (prior to the commencement of any capital returns) has been paid to investors. The Fund is estimated to distribute a further 15-20% (as measured by value at 30 April 2009) by the end of calendar year 2010. This is an estimate based on current information and the actual distribution payment amounts may vary from this significantly. The next quarterly distribution is expected to be paid in late February 2010.

In October 2009, BTIM advised investors that the Fund’s currency hedging strategy will be discontinued with effect from 2 November 2009. Discontinuing the Fund’s foreign currency hedging strategy has allowed for a quicker return of capital to investors as well as removing uncertainty around the ability to maintain the hedging strategy during the wind down period. The cash held in the Fund to support the discontinued currency hedging strategy is being distributed to investors as an additional part of this return of capital.

As the Fund’s US dollar currency exposure is no longer hedged, the value of investors' remaining investment in the Fund will be exposed to changes in the exchange rate between US dollars and Australian dollars. The actual impact of which will depend on the prevailing exchange rate at the time each US dollar denominated redemption receipt is received and converted to Australian dollars for payment to unitholders.

Unit prices will continue to be calculated once a month as at the last business day of the month. Unit prices will reflect distribution payments and changes in the value of the Fund’s underlying assets, including those due to exchange rate changes. Unit prices will be generally available on or around 11 business days after the end of the month. These are indicative unit prices and investors will not be able to transact on these prices.

BTIM will notify Fund investors either quarterly or more frequently if there are any material updates or changes.

*The distribution was incorrectly stated as 26.5% of the value of the Fund as at 31 October 2009 in the letter dated 24 November 2009. The correct figure is 44.0%.