MONTHLY UPDATE

Latest Unaudited Net Tangible Asset Backing Per Share

NTA As At Raw¹ After Tax² Comment

28 February 2010 152.8 cents 140.7 cents

1. Raw Net Tangible Assets (NTA) per share is calculated using the current market prices of securities and allows for accrued expenses of Westoz Investment Company Limited including tax on realised profits.

2. NTA After Tax is calculated on the same basis as the Raw NTA, but makes a provision for tax payable on unrealised gains.

Historical Information

NTA As At Raw After tax Comment

31 January 2010 149.0 cents 138.1 cents

31 December 2009 158.0 cents 144.0 cents Ex 2.5 cent div

30 November 2009 159.3 cents 145.6 cents

31 October 2009 154.0 cents 142.0 cents

30 September 2009 157.8 cents 144.4 cents

31 August 2009 152.1 cents 140.0 cents

31 July 2009 144.0 cents 134.5 cents

30 June 2009 128.6 cents 124.1 cents Audited

31 May 2009 124.1 cents 120.7 cents

30 April 2009 114.0 cents 114.8 cents

31 March 2009 99.8 cents 104.6 cents

28 February 2009 91.6 cents 98.9 cents

31 January 2009 87.7 cents 96.3 cents

31 December 2008 88.5 cents 97.1 cents Audited

30 November 2008 97.5 cents 103.5 cents

31 October 2008 97.7 cents 104.4 cents

30 September 2008 142.5 cents 135.7 cents

31 August 2008 175.0 cents 158.0 cents DRP at $1.47 per share

31 July 2008 171.6 cents 155.5 cents

30 June 2008 202.6 cents 175.7 cents Ex 10 cent div, audited

31 May 2008 213.2 cents 186.0 cents

30 April 2008 186.0 cents 167.8 cents

31 March 2008 169.9 cents 157.0 cents

29 February 2008 177.0 cents 161.6 cents

31 January 2008 163.7 cents 151.0 cents

31 December 2007 177.2 cents 159.7 cents Audited

30 November 2007 169.7 cents 154.4 cents

31 October 2007

165.0 cents

150.8 cents

30 September 2007 153.2 cents 142.2 cents

31 August 2007 141.8 cents 133.2 cents DRP at $1.26 per share

31 July 2007 143.8 cents 133.4 cents

30 June 2007 144.2 cents 133.0 cents Ex 5 cent div, audited

31 May 2007 140.1 cents 131.0 cents

30 April 2007 127.2 cents 121.9 cents

31 March 2007 120.6 cents 117.5 cents

28 February 2007 114.8 cents 113.1 cents

31 January 2007 110.9 cents 110.0 cents

31 December 2006 112.2 cents 111.1 cents Audited

30 November 2006 110.8 cents 109.6 cents Diluted for rights issue

31 October 2006 114.8 cents 113.3 cents

30 September 2006 112.4 cents 111.5 cents

31 August 2006 113.1 cents 111.7 cents DRP at $1.06 per share

31 July 2006 113.9 cents 111.9 cents

30 June 2006 114.7 cents 112.3 cents Ex 5 cent div, audited

31 May 2006 119.2 cents 116.4 cents

30 April 2006 119.9 cents 115.5 cents

31 March 2006 116.1 cents 112.5 cents

28 February 2006 114.0 cents 111.0 cents

31 January 2006 114.4 cents 111.0 cents

31 December 2005 109.3 cents 107.6 cents Audited

30 November 2005 110.7 cents 108.0 cents

31 October 2005 108.3 cents 106.5 cents

30 September 2005 107.4 cents 105.5 cents

31 August 2005 104.4 cents 103.2 cents

31 July 2005 100.7 cents 100.6 cents

30 June 2005 100.0 cents 100.0 cents Audited

31 May 2005 99.8 cents 99.8 cents