PIR National Property Funds Forum 2008 – Hyatt Regency Coolum Australia 2007

Invitation to attend the 15th Annual PIR Property Funds Industry Forum

It is with great pleasure that I invite you to attend the 15th Annual PIR Property Funds Industry Forum 2008 at the Hyatt Regency Coolum, Queensland, Australia.

As a result of the US sub prime events and the subsequent credit crunch the entire Australian Property Funds Sector is currently under considerable pressure. Now is a crucial time for all industry participants to consult together to review what lessons need to be learnt from the current fallout and at the same time formulate/discuss positive strategies for going forward. This year's PIR Forum is specifically designed to tackle the 'current' issues confronting managers/investors in both listed and unlisted funds.

Australian Property Funds have assets in excess of $400 billion and own approximately 70% of Australia's investment grade property, they are managed by more than 200 management organisations, most of whom have been past delegates at the Annual PIR Property Funds Industry Forum.

Today, the Forum stands alone as the pre-eminent event on the property funds industry calendar and is a must attend event for all industry participants, both local and international. The key driver for attending this forum is three elements - networking, market intelligence and professional development.

Forum Chairman Dr Frank Gelber, Chief Economist of BIS Shrapnel will join an elite group of Australian and international speakers to examine issues impacting the continuous growth and the future development of the property funds industry under the current market volatility. I encourage you to look at the program and the website for more information.

SPECIAL NOTICE - ADPIA and API Members: Both associations will be conducting their own 'special interest' focus streams throughout the Monday afternoon of 13th October; members can also obtain additional discounts on registration. Please refer to PIR Client Services on 03 9670 7767.

I look forward to meeting you at the 15th Annual PIR Property Funds Industry Forum.

Richard Cruickshank
Managing Director, PIR

Chairman of the Forum
Dr Frank Gelber
Chief Economist, Director, Economics & Property
BIS Shrapnel

Frank Gelber is the Chief Economist at BIS Shrapnel. He is the Director of the Economics and Property research and forecasting units.

Frank is a forecaster. He frequently speaks on prospects for the economy and property markets. He is noted for sticking his neck out and saying what he thinks will happen, even when that view is unpopular or controversial. As a fundamentals forecaster, his objective is to understand whether activity or growth is sustainable. In a cyclical environment, the task is to predict turning points, to understand how markets will develop on the logic of the players, and how market logic will change as circumstances and perceptions evolve.

In addition to private client projects, briefings and workshops, and co-ordinating of research and forecasting functions, he edits a number of publications including:

• Economic Outlook
• Long Term Forecasts
• Commercial Property Prospects studies

These industry reports are the result of research into specific markets and include forecasts of prospects.

Frank has special interest in:

• economic forecasting, issues for the Australian economy and industry, cycles in economic activity and associated strategic implications,
• development of econometric models, time-series analysis and forecasting,
• industry structure and prospects for industry sectors,
• analysis and forecasts of prospects for property markets, and
• investment strategy.

Frank regularly presents BIS Shrapnel's analysis of prospects for the Australian economy at the company's six-monthly forecasting conferences and conducts briefings and workshops to facilitate clients' strategic planning and budgeting.

ADDRESS OF COMMUNICATIONS
PIR Independent Research Group
GPO Box 4723, Melbourne, Vic, Australia, 3001
Phone: +61 3 9670 7767
Fax: +61 3 9642 5579
Email: forum@pir.com.au