20 April 2010

Clarification Statement

The Board of Balmain Trilogy wish to clarify comments made in an article that appeared in the Sydney Morning Herald on November 18th 2009. As the article currently reads one may attribute a statement made by the writer to Mr Rodger Bacon in relation to the unit price ‘heading towards 80c’. We confirm that Mr Rodger Bacon - Joint CEO of Balmain Trilogy did not make such a statement regarding the future value of the fund. Balmain Trilogy and its officers will generally not provide projections in relation to the Fund’s unit price unless it has been verified. We believe the writer of the article has formed their own view on the future unit price of the Fund.

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