| Unlisted Funds | NTA* | Published Date |
|---|
| Chevron Renaissance Property Trust |
$0.2643 | 17/05/12 |
| Arena Childcare Property Fund |
$0.9419 | 17/05/12 |
| Arena Office Fund |
$0.5299 | 11/05/12 |
| Arena Property Fund |
$0.0914^ | 11/05/12 |
| Arena Property Fund No. 1 |
$0.0703 | 17/05/12 |
| Arena Property Fund No. 2 |
$0.0685 | 17/05/12 |
| Arena Primary Infrastructure Fund |
$0.5472^^ | 17/05/12 |
| Arena Hybrid Property Fund |
$0.5918 | 17/05/12 |
| Sydney HealthCare Trust |
$1.0399 | 17/05/12 |
| Sydney Land Syndicate |
$0.7553^^^ | 17/05/12 |
| Banksia St Heidelberg JV |
$74,174.30 | 17/05/12 |
| PHC Darlinghurst Syndicate |
$6,736.04 | 17/05/12 |
| PHC Darlinghurst Trust |
$1.3149 | 17/05/12 |
*Please note that this information may change at any time. Arena does not guarantee that units can be realised at the published NTA values. The NTA is calculated by marking to market (pricing) all assets on the balance sheet as at 31 March 2012. Assets include all direct property assets and indirect investments (based on advised or estimated NTA). Liabilities are then deducted. As all funds are currently closed to new investments, and until further notice, we are publishing NTA value per unit only.
^The above Arena Property Fund (APF) NTA includes Water Rights (an intangible asset),
excludes the APF’s non-controlling interest in Arena Primary Infrastructure Fund (PIF) and excludes
the negative net assets in DPFNZ due to the outstanding liabilities being non-recourse to the DPF.
^^Including the value of intangible water rights held by PIF (valued at cost) which was $0.1598.
^^^Reported NTA adjusted for independant property revaluation not recognised in the financial
statements.