1. In the opinion of the Directors of Savings & Loans Credit Union (S.A.) Limited:

a) the financial statements and notes set out on pages 27 to 60 are in accordance with the Corporations Act 2001, including:

(i) giving a true and fair view of the financial position of the Credit Union and the consolidated entity as at 30 June 2006 and of their performance, as represented by the results of their operations and their cash flows, for the year ended on that date; and

(ii) complying with Accounting Standards in Australia and the Corporations Regulations 2001; and

b) there are reasonable grounds to believe that the Credit Union and the controlled entity identified in Note 36 will be able to pay their debts as and when they become due and payable.

Signed in accordance with a resolution of the Directors:

K. M. Crawshaw, Chairperson
Dated at Adelaide this 30th day of August 2006.