For the 6th year running we are attending the "Living in Bangkok" Exhibition. So if you are in Bangkok on Saturday, September the 18th, 2004, please visit Global at booth number 9 on the 14th Floor of Bumrungrad Hospital, in Sukhumvit Soi 1/3. By visiting our stand you could also win 2 weekend nights including full breakfast at the Conrad Hotel, Bangkok.
We are pleased to announce that the Premier Diversified Property Fund has acquired over £ 650 million of UK commercial property assets, in a little over 20 months since launch, whilst at the same time achieving excellent returns. The returns are particularly impressive against a backdrop of continued uncertainty in the world's stock markets and a downturn in investment conditions generally.

Many investors are seeking alternatives to more traditional investments and The Premier Diversified Property Fund provides an excellent opportunity to invest in the UK commercial property market, which in turn can generate long term capital growth in a secure and non-correlated environment.

The performance of the Fund since launch has been impressive, and the underlying investment strategy has been structured to help ensure that this continues. As can be seen from the Portfolio Analysis below this strategy includes:

• "Blue Chip" Tenants:
  95% of properties leased to either major quoted plc's or British Government
  
  
• Long Term Leases:
  Nearly 80% of properties have unexpired leases of at least 15 years. This increses to 100% for unexpired leases of at least 10 years
  
  
• Excellent Locations:
  The properties are spread throughout the UK but with no exposure to London at present
  
  
• Impressive Yields:
  Average rental yields of around 7% per annum

Highlights

• Currency:
  Available in Sterling, Euros, and, with effect from 1st June 2004, US Dollars
  
  

• No Initial Charge:
  100% of investment is allocated
  
  

• Withdrawal Option:
  Investors have the option to withdraw up to 7.5% p.a. of the investment value penalty free
  
  
• Expertise:
  Property acquisition and management by specialists; valuation by Allsop & Co.

Outstanding Performance
(as of 1st August 2004)

• STG £ +16.7% (APR £ +9.2%)
  
  
• EURO € +14.1%(APR € +7.8%)
  (Both since launch 1st Nov. 2002)
  
  
• USD $ +1.4% (APR $ +8.7%)
  (Since launch 1st June 2004)

Available through the portfolio bonds of most international life companies

The Premier Diversified Property Fund Property Portfolio Analysis August 2004
Tenant Details	Percentage	Spread of Investments	Percentage
Government	25%	Offices	41%
Financial Institutions	4%	Retail	0%
Public Companies	71%	Retail Warehouses	9%
Professional Practices	0%	Warehouses	50%
Private Companies	0%	Light Industry	0%
Sole Traders	0%	Others	0%
Total	100%	Total	100%
Vacancy Rate	0%
Length of Leases	Percentage	Location	Percentage
Over 15 years unexpired	79%	North	27%
Over 10 years unexpired	21%	Midlands	17%
Below 10 years unexpired	0%	South West	45%
Below 5 years unexpired	0%	South East	11%
Total	100%	Total	100%

The scheme is not subject to approval in the Isle of Man and investors are not protected by any statutory compensation arrangements in the event of the Scheme's failure. The Isle of Man Financial Supervision Commission does not vouch for the financial soundness of the Scheme or for the correctness of any statements made or opinions expressed with regard to it. Investors into the Scheme must be Experienced Investors and, prior to investment, must have signed a statement acknowledging that they are an Experienced Investor and that they have read and understood the Scheme Particulars and accept the risks associated with such an investment. The value of investments can fall as well as rise. Past performance is not necessarily a guide to future returns. For Professional Intermediaries and Advisers only.