National Finance Receivers Make Second Repayment

Friday 9 March 2007

National Finance Receivers Make Second Repayment to Investors

The receivers of National Finance 2000 Ltd (NFL), PricewaterhouseCoopers partners Colin McCloy and John Waller, advise that a second interim repayment of principal has been made to secured investors today.

This second repayment will see NFL investors receive a further 10 cents in the dollar, bringing the total repayment since receivers were appointed to 40 cents in the dollar. An initial repayment of 30 cents in the dollar was made to investors in October 2006.

NFL was holding deposits of more than $21 million on behalf of secured investors. Following the second repayment, more than $8.7 million will have been returned to investors since receivers were appointed.

Receiver Colin McCloy said the upcoming repayment was to be made as a result of further recoveries from the assets of NFL.

Mr McCloy said subordinated investors were not in a position to receive any of their investments back. “Unfortunately for these investors, nothing has changed from our previous position,” he said.

ENDS

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