content_image/101405.jpg content_image/101406.jpg
<img src='content_image/101405.jpg'>

<img src='content_image/101406.jpg'>

## (c) Note on valuation of property 

The carrying amount of Land and Buildings are reviewed annually by the Directors. If the carrying amount of an item of the Land and Buildings exceeds its recoverable amount, the asset is written down to the lesser amount. An independent valuation was performed by P Donovan (A.A.P.I. Registered valuer No. 3028) of Ponton Valuations Pty Limited on 25th August 1999. The independent valuation for Land and Building was based upon “market value, existing use”. 

