Cremorne Capital Limited

This licence authorises the licensee to carry on a financial services business to:

provide general financial product advice for the following classes of financial products:

interests in managed investment schemes limited to:

own managed investment scheme only;

deal in a financial product by:

issuing, applying for, acquiring, varying or disposing of a financial product in respect of the following classes of financial products:

interests in managed investment schemes limited to:

own managed investment scheme only; and

applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products:

deposit and payment products limited to:

basic deposit products;

deposit products other than basic deposit products;

interests in managed investment schemes excluding investor directed portfolio services; and

securities; and

operate the following kinds of registered managed investment schemes (including the holding of any incidental property) in its capacity as responsible entity:

"Lowell Capital Limited - Hvt Land Scheme" scheme (ARSN: 154 154 033),

a scheme which only holds the following types of property:

direct real property;

"Sylvatech Tropical Timbers 2003" scheme (ARSN: 103 855 821),

a scheme that is promoted to raise funds solely to finance primary production ventures as an active commercial enterprise limited to:

forestry;

"Sylvatech Tropical Timbers 2004" scheme (ARSN: 107 390 796),

a scheme that is promoted to raise funds solely to finance primary production ventures as an active commercial enterprise limited to:

forestry;

"Great Southern 2007 High Value Timber Project" scheme (ARSN: 123 528 950),

a scheme that is promoted to raise funds solely to finance primary production ventures as an active commercial enterprise limited to:

forestry;

"Great Southern 2008 High Value Timber Project" scheme (ARSN: 123 529 233),

a scheme that is promoted to raise funds solely to finance primary production ventures as an active commercial enterprise limited to:

forestry;

"Lowell Capital Limited - Mahogany Land Trust" scheme (ARSN: 155 609 813),

a scheme which only holds the following types of property:

direct real property;

"Lowell Capital Limited - Premium African Mahogany 2012 Project" scheme (ARSN: 155 610 414),

a scheme that is promoted to raise funds solely to finance primary production ventures as an active commercial enterprise limited to:

forestry; and

schemes which only hold the following types of property:

financial assets;

to retail and wholesale clients.