2832 NEW ZEALAND GAZETTE, No. 95 10 AUGUST 2006

These are denominated in the following currencies:

| 2006
| $’000
| Australian dollar equivalents 1,091
| Canadian dollar equivalents 2,806
| Danish krona equivalents 192
| Euro equivalents 23,705
| Great Britain pound equivalents 22,231
| Hong Kong dollar equivalents 512
| Japanese yen equivalents 6,921
| New Zealand dollars 104,248
| Norwegian kroner equivalents 327
| Poland zloty equivalents 469
| Singapore dollar equivalents 362
| South Korea dollar equivalents 1,395
| Swedish krona equivalents 789
| Swiss franc equivalents 2,217
| United States dollar equivalents 68,864
| Other equivalents (21)
| 236,108

| 2005
| $’000
| Australian dollar equivalents 426
| Canadian dollar equivalents 2,742
| Danish krona equivalents 197
| Euro equivalents 28,665
| Great Britain pound equivalents 13,301
| Hong Kong dollar equivalents –
| Japanese yen equivalents 11,568
| New Zealand dollars 95,441
| Norwegian kroner equivalents –
| Poland zloty equivalents –
| Singapore dollar equivalents –
| South Korea dollar equivalents –
| Swedish krona equivalents 727
| Swiss franc equivalents 1,860
| United States dollar equivalents 59,430
| Other equivalents 1,787
| 216,144

The unrealised gains and losses on forward contracts have been included in other equivalents.

Trust policy is to hedge exposure on fluctuations in foreign exchange on 100% of global fixed interest investments and global equity investments. At 31 March 2006, the trust’s investment managers had forward exchange contracts in accordance with this policy.

The market value of the New Zealand cover is $77,956,416 (nominal value – $82,233,073). This cover is only for global equity investments. The market value of the cover at balance date accounts for 115% of funds held in global equities. At balance date, global fixed interest investments were held by a New Zealand investment manager. No undisclosed credit risk exists.

Credit Risk

Financial instruments which potentially subject the society to credit risk principally consist of bank balances, accounts receivable and investments.

14. Donations

On 24 September 2005, the Waikato Times published a list totalling $8,066,650, which showed all of the donations approved by the trust from the period 1 April 2005 to 24 September 2005.

In the period from 25 September 2005 to 31 March 2006, the trust has also paid, committed or withdrawn the following donations:

Total donations published in the Waikato Times on 24 September 2005 $8,066,650
Access to Communication Technology Trust (10,000)
Eastlink – Lugton Park Combined Sports 105,000
Enderley Park Community Centre (61,000)
Epworth Retreat & Recreation Centre (15,000)
Hamilton Multicultural Centre 3,000
Hauraki Maori Trust Board 3,000
K’aute Pasifika 3,000
Maniapoto Trust 3,000
Matamata College Sports Club 11,000
Melville Primary School 1,500
Pirongia Te Aroaro o Kahu Restoration Society Inc. 5,000
Raukawa Trust Board 3,000
Rawhiti Kindergarten (553)
Riding for Disabled Cambridge Group (45,000)
South Waikato Achievement Trust (7,000)
Tainui – Te Ataarangi ki Hauraki – Hui a tau 2005 2,500
Te Kauwhata College Sports Club 2,000
Te Ohaaki Marae (27,000)
Te Runanga o Kirikiriroa 3,000
Thames Valley Waikato Floral Arts Grants Committee (350)
Tokoroa Council of Social Services 3,000
Turangawaewae Marae Committee 80,000
Turangawaewae Rugby League Sports and Cultural Club (10,000)
Waikato Hockey Charitable Trust 45,000