E&Y (KSFUK) 6 monthly report out now for 7.4.11 - 7.10.2011

Hi Folks,

E&Y Progress Report out right now.

Quick glance shows a very slight increase in lower estimate of returns to 79p/£ instead of 78p/£. Higher estimate stays the same at 86p/£ - I had hoped for a bigger increase, but perhaps the Kaupthing hf situation is not helping with regard to this.

But it is an up rather than a down and it means a further £2.461m over the liquidation or equivalent to 0.2719p/£ extra to us. A very small step in the right direction.

I'll start doing a report on my thoughts on this progress report and hopefully issue them early next week.

Will also update my table 11 based on this and our JLs Oct figures once they come out, along with any data on the 10 largest loans and also any answers to my list of questions that I hope they will reply to shortly.

Will then update my data again once JLS isue the dividend payment and when, then update you all again with any further thoughts I have.

But once more a small but positive step forward,

Regards to all,