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UDC Call and Term Maximiser Funds     (PIE's) Secured Term Capital Drawdown Call Accounts UDC Disclosure Statement

A UDC Secured Term Investment is a straightforward, fully secured investment offering   a choice of terms and interest frequencies to suit your needs. You have the choice of   receiving regular interest payments direct credited to your bank account, or growing   your investment by compounding your interest. The interest rate is fixed for the term of   your investment - even if market rates fall. PRODUCT FEATURES AND BENEFITS     Minimum investment $5,000   Interest rate Fixed for the term of the investment   Investment terms Choose between 1 month and 5 years   Interest frequency Less than 1 year term: interest paid at maturity. 18 month term – interest paid quarterly. 1 – 5 year terms: choose between monthly, quarterly or annual payments.   Interest payments Quarterly,half yearly and annual interest may be compounded or direct credited to a bank account. Monthly interest is paid only by direct credit to a bank account.   Interest Payment Dates Monthly interest is credited on the first working day of the following month and on maturity date. Quarterly interest is paid on or by the first working day of January, April, July and October On maturity interest is paid on the maturity date.   Maturity Options You may choose either to receive notification prior to the maturity of your investment, or to have your investment automatically renewed at maturity for the same term at the applicable rate of interest for the new term.   Fees There are no fees on Secured Term Investments, but an interest adjustment will apply where an investment is partially of fully withdrawn prior to maturity   Withholding tax Interest earned is taxable. Tax is deducted before interest is paid or compounded   Identification Please refer to the Terms & Conditions section for identification requirements.   Security Your Secured Term Investment is fully secured by UDC First Ranking Debenture Stock.     UDC Secured Term Investments have a two-tier structure and fixed for the investment term.    / Tier 1 $5,000 to $99,999    / Tier 2 $100,000 and over   Where investments totalling $100,000 or more are held with UDC, the second tier rates   will apply to all new investments and future renewals.   Quoted rates may be available for amounts and/or UDC portfolios over $100,000. These   are subject to daily market conditions and can be obtained by contracting UDC Investor   Services, your local ANZ branch or your financial adviser.   Read the   Investment Statement (PDF, 46kb)   To read a file, you will need access to Adobe Acrobat Reader.   You can download the Adobe Acrobat Reader from Adobe.    A copy of a disclosure statement prepared under the Securities    Markets Act 1988 is available on our website, free of charge.       © 2004-2005 Copyright UDC Finance Limited            Disclaimer/Terms of Use