Notice
      of Creation of a Securitisation Fund

     

    
      	
              To:

            	
              Perpetual
                Limited

            


    

    ABN
      86
      000 431 827

    (Trustee)

    


    
      	
              From:

            	
              ME
                Portfolio Management
                Limited

            


    

    ABN
      79
      005 964 134

    (Manager)

     

    Pursuant
      to clause 4.2(a)(1) of the Master Trust Deed dated 4 July 1994 between the
      Trustee and the Manager establishing the Superannuation Members’ Home Loans
      Trusts (as amended and restated from time to time) (Trust
      Deed),
      the
      Manager hereby gives notice of the creation of a Securitisation Fund under
      the
      Trust Deed to be known as the “SMHL Global Fund 2007-1”.

     

    1    Unitholders
      and Beneficiaries of the Securitisation Fund

     

    For
      the
      purposes of clause 4.1 of the Trust Deed, the Unitholders and Beneficiaries
      of
      the SMHL Global Fund 2007-1 are:

     

    (a)   (Residual
      Capital Unitholder)

     

    Industry
      Funds Management (Nominees 2) Pty Limited, in its capacity as trustee of Super
      Business Loans Unit Trust No. 1 as to A$100 of the capital of the SMHL Global
      Fund 2007-1.

     

    
      	
              (b)

            	
              (Income
                Unitholder)

            


    

     

    Industry
      Funds Management (Nominees 2) Pty Limited, in its capacity as trustee of Super
      Business Loans Unit Trust No. 1 as to the balance of the SMHL Global Fund
      2007-1.

    

      
        	
                2

              	
                Creation
                  of Residual Capital Units and Income
                  Units

              


      

       

    

    This
      Notice of Creation of a Securitisation Fund is accompanied by the sum of:


     

    
      	
              (a)

            	
              A$100
                in accordance with clause 4.2(a)(2) and clause 3.6(b) of Schedule
                10 of
                the Trust Deed on behalf of Industry Funds Management (Nominees 2)
                Pty
                Limited and in consideration of the issue of 100 Residual Capital
                Units to
                Industry Funds Management (Nominees 2) Pty Limited, in its capacity
                as
                trustee of Super Business Loans Unit Trust No. 1;
                and

            


    

     

    
      	
              (b)

            	
              A$10.00
                in accordance with clause 4.2(a)(3) and clause 3.6(a) of Schedule
                10 of
                the Trust Deed on behalf of Industry Funds Management (Nominees 2)
                Pty
                Limited and in consideration of the issue of 10 Income Units to Industry
                Funds Management (Nominees 2) Pty Limited, in its capacity as trustee
                of
                Super Business Loans Unit Trust No.
                1.

            


    

     

    
      
        
        

      

      
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                Dated:

              	
                2
                  May 2007

              


      

       

    

     

    Signed
      for and on behalf of 

    ME
      Portfolio Management Limited

    by:

    


     

    
      	/s/
              Paul Garvey	 	/s/
              Nicholas Vamvakas
	
              Authorised
                Signatory

            	 	
              Authorised
                Signatory

            
	 	 	 
	 Paul
              Garvey	 	Nicholas
              Vamvakas
	
              Name
                (please print)

            	 	
              Name
                (please print)

            


    

    


     

    
      
        
        

      

      
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