Product Performance Update

Investment Analysis (as at 23 October 2008):

Asset Class Return:

Investment Profile Return:

¹Weighted 60% Equities, 20% Bonds, 20% Commodities
²Weighted 1/3 Equities, 1/3 Bonds, 1/3 Commodities
³Weighted 20% Equities, 20% Bonds, 60% Commodities

The Best Performing Investment Profile as at 23 October 2008 was the the Balanced Profile.

Participation Rate:

The Participation Rate for Optimiser III is 83%. The Final Value per Unit on the Maturity Date will be the greater of $1.00 OR the product of the Participation Rate and the Best Performing Investment Profile.

• Product Summary

* Prior to the Maturity Date, the Asset Class Return and the Investment Profile Return are not an accurate indication of the likely future performance of the Optimiser III. Following the Maturity date, the Final Value will be determined with reference to the Best Performing Investment Profile as at the Maturity Date.

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