Macquarie Almond Investment

* Any harvest revenue received may be used to offset other project costs

Product Ruling 2011/7 applies to investors who invested in the Macquarie Almond Investment 2011 (Project) on or before 15 June 2011 and is only a ruling on the application of taxation law and is in no way expressly or impliedly a guarantee or endorsement of the commercial viability of the Project or the soundness or otherwise of the Project as an investment, or of the reasonableness or commerciality of any fees charged in connection with the Project. The Product Ruling is only binding on the Commissioner if the Macquarie Almond Investment 2011 is implemented in the specific manner provided in the Product Ruling and the circumstances of investors as described in the Product Ruling. You can view a copy of the Product Ruling by visiting the Australian taxation Office (ATO) website and typing in the Product Ruling number "PR 2011/7".  

This information has been prepared by Macquarie Alternative Assets Management Limited ABN 30 103 237 181, AFSL 225758, (MAAML) and is current as at 4 May 2011. An invitation to apply for interests in the Project was made by MAAML in the Product Disclosure Statement dated 28 April 2011 (PDS). The PDS is available by phoning 1800 080 033. In deciding whether to acquire or continue to hold an investment in the Project, an investor should obtain the PDS and consider its contents.

This information prepared by MAAML is general information and does not take account of an investors' objectives, financial situation or needs. Before acting on this general information, investors should therefore consider the appropriateness of the information having regard to their situation. We recommend investors obtain financial, legal and taxation advice before making any financial investment decision.

The Macquarie group does not give, nor does it purport to give, any taxation advice. Any taxation discussion in this document is based on laws current at the time of writing. Those laws and the level of taxation may change. The application of taxation laws to each investor depends on that investor's individual circumstances. Accordingly, investors should seek independent professional advice on taxation implications before making any investment decisions.

MAAML or its associates, officers or employees may have interests in the financial products referred to in this information by acting in various roles including as investment adviser, broker, or lender. MAAML or its associates may receive fees, brokerage or commissions for acting in these capacities. In addition, MAAML or its associates, officers or employees may buy or sell the financial products as principal or agent. Investors may contact MAAML on 1800 080 033.

Investments in the Macquarie Almond Investment 2011 are not deposits with or other liabilities of Macquarie Bank Limited (MBL) or any other Macquarie Group company, and are subject to investment risk, including possible delays in repayment and loss of income or capital invested. None of MBL or any other Macquarie Group company guarantees any particular rate of return on, or the performance of, the Macquarie Almond Investment 2011, nor do any of them guarantee the repayment of capital from the Macquarie Almond Investment 2011.