Select Asset Management Application Form

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**New Application Form**
as of 16 April 2008

Important things to note:

- We have a new application form.

- We can no longer accept faxes, only original application forms can be accepted.

- Clients already invested with SELECT generally do not need to complete the new forms or provide any additional documents.

- To avoid processing delays, it is important that application forms are completed correctly and that all required identification documents are provided.

Due to the introduction of the new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act (2006), it is now a prerequisite to collect more detailed information about and to verify the identity of all new clients opening accounts with SELECT.

In this regard, SELECT has implemented a new application form which will become effective from 16 April 2008. The new application form supercedes the application forms within the current Product Disclosure Statements (PDSs).

We are currently in the process of updating our PDSs and we will inform you once these are available. In the meantime, the new application form can be accessed by downloading the relevant PDS here.

It is important that investors read the relevant PDS carefully before investing, to make an informed investment decision.

Please note: We can only accept original application forms and original certified copies of the identification documents. In the event we receive an application on an old form we will send you the new form for completion. To avoid processing delays please ensure that the application form is complete and that required identification documents are enclosed.

If you have any queries or would like to be emailed a copy of the new application form, please contact SELECT's investor services team on 02 8252 2200 or investorservices@selectfunds.com.au.

Kind regards,
Investor Services

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Whilst all care has been taken in the preparation of this email (using sources believed to be reliable and accurate), no person including Select Asset Management Limited (SELECT) or any other affiliated company accepts responsibility for any loss suffered by any person arising in reliance on this information other than under law which cannot be excluded. You should seek your own financial and taxation advice before investing or dealing with your investment. A product disclosure statement (PDS) explaining each of our investment Portfolios is available free of charge from us. You should consider the PDS in deciding whether to invest or remain invested in the Portfolio. An application form accompanies the PDS. Past performance (whether constructed or actual) should not be taken as an indication of future performance. No one promises any rate of return or the return of money invested. This report is intended to provide general information only and does not take into account your individual objectives, financial situation or needs.