Sydney, December 19, 2012 -- Moody's Investors Service announced today that a substitution of approximately AUD 20 million to HBS Trust 2008-1R on December 18, 2012 would not, in and of itself and as of this time, result in the reduction or withdrawal of the rating of the Class A notes issued by Perpetual Trustee Company Limited in its capacity as the Trustee of HBS Trust No 2008-1R. The Class B notes are not rated.

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