MRY – Oh me oh my

good, made it to £61m. am still confident that the zs will make it to 136p but how much left over for ords is the gamble and could easily be anything from zilch to current price +.

The Board of Directors of the Fund wishes to advise that the net asset value
calculations for the shares of the Fund as at 10th December 2004 are as follows:


Zero Dividend Preference Shares 121.70 GB0031909194 3190919

Ordinary Shares 1.66 GB0031909087 3190908

excluding current year's income

Ordinary Shares 5.33

including current year's

income


Alpha Optimum Investment 24%
MAISF G7 Fixed Income Cell 73%
BONDS 0%
INVESTMENT TRUSTS 1%
CASH (plus net current assets) 2%


GROSS ASSETS GBP 61,070,195