The 30 stocks in each of the Reference Portfolio have been selected by the following criteria ("Selection Criteria") as at 23 June 2005:

• the 100 largest stocks globally or, in respect of the Australian Income, in S&P/ASX 200, both according to data sourced from Bloomberg L.P.;
• remove any stocks from the list that have had an average daily volume, over the preceding 100 Exchange Business Days, multiplied by the spot price, of, in respect of the international Reference Portfolio, less than USD 20 million, or in respect of the Australian Portfolio, less than AUD10 million;
• sort the remaining stocks by their 12 month historical regular cash dividend yield, according to data sourced from Bloomberg L.P., highest to lowest; and
• select the top 30 yielding stocks from the list, subject to a maximum weighting of 20% in the Reference Portfolio for any Industry Sector.