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Unit prices   Real estate securities Entry Exit Date APN AREIT Fund 1.1956 1.1895 29 Jul 10    History... APN Property for Income Fund 1.6772 1.6688 29 Jul 10    History... APN Property for Income Fund No. 2 0.8247 0.8205 29 Jul 10    History... APN International Property for Income Fund 0.0843 0.0837 30 Jun 10    History... APN Direct Property Fund 0.7783 0.7629 29 Jul 10    History... APN Diversified Property Fund 0.5979 0.5898 29 Jul 10    History...   Direct real estate Net asset value Date APN Property Plus Portfolio 1.5090 31 Dec 09 APN Regional Property Fund (BSX code APR) 0.7356 31 Dec 09 APN National Storage Property Trust 0.9945 31 Dec 09 APN Retirement Properties Fund 2.8361 31 Dec 09   European real estate Unit price Date APN Euro Property Fund 0.3162 31 Dec 09 APN Poland Retail Fund 0.1636 28 Feb 10 APN Vienna Retail Fund 0.7716 31 Jan 10 APN Champion Retail Fund 0.7459 28 Feb 10

Yield and volatility - a compelling relative value in the AREIT sector      Recovery 2010-2012 vs recovery 1990-1995.....the similarities, the differences, the aftermath

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