Market Performance to 31 March 2011

	Australian Shares	International Shares	Property	Fixed Interest	Cash
1 month	0.67%	-2.62%	-1.95%	0.49%	0.42%
3 months	3.12%	3.90%	3.73%	1.25%	1.22%
1 year	3.79%	0.66%	4.74%	6.93%	4.87%
3 years	1.13%	-4.53%	-14.55%	7.46%	5.03%
5 years	3.21%	-5.48%	-9.46%	6.73%	5.65%

(Fees and Taxes are not taken into consideration for the construction of Market Indices.)

Benchmark Performance of AXIS Portfolios to 31 March 2011

	Conservative	Cautious	Prudent	Assertive	Aggressive
1 year	3.94%	3.46%	3.04%	2.63%	2.21%
3 years	2.48%	1.24%	0.30%	-0.97%	-2.16%
5 years	2.47%	1.53%	0.83%	-0.13%	-1.05%

(Returns are stated as After Fees and Before Taxes.)

Indices:

• Australian Shares: S&P/ASX 300 Accum
• International Shares: MSCI World ex Aust (Net Div ) (AUD)
• Property: ASX 300 Props Trust Acc
• Fixed Interest: (weighted average) Aus – UBS Warburg Composite All Mat; Int – JP Morgan Broad WGBI (AUD)
• Cash: UBS Bank Bill Index

Benchmarks:

• Australian Sector: Mstar PG W Sup Eqty Aust Large Bld Idx
• International Sector: Mstar PG W Sup Eqty World Large Bld Idx
• Property Sector: Mstar PG W Eqty Aust – Real Est Idx
• Fixed Interest Sector: Mstar PG W Sup Global/Aust Bond Idx
• Cash: Mstar PG W Sup Aust Cash Idx

NB: Period returns published that are greater than 1 year are annualised returns.