QUBE HOLDINGS LIMITED — Net Asset Value 2008

Mar 12, 2008

KAPLAN FUNDS MANAGEMENT PTY LIMITED ABN 98 079 218 643 AFSL 240815

• TO: COMPANY ANNOUNCEMENTS OFFICE Fax No. 1900 999 279
• COMPANY: AUSTRALIAN STOCK EXCHANGE LIMITED

FROM: KFM DIVERSIFIED INFRASTRUCTURE AND LOGISTICS FUND

13th MARCH 2008 DATE:

NO. OF PAGES: 1

Notification of Net Tangible Assets

We hereby provide notification of the KFM Diversified Infrastructure and Logistics Fund's net tangible asset backing per ordinary unit as at the close of the last month and the previous month for comparative purposes:

Net Tangible Asset Backing per Ordinary Unit
Month End	29 February 2008	31 January 2008
Net Tangible Assets	$1.0783	$1.0853

Net tangible asset backing includes listed investments at current market value less associated selling costs which would be payable on realisation of the investments. Unlisted investments are valued based on cost or the most recent independent valuation (undertaken annually) or as otherwise determined by the Responsible Entity in consultation with the Manager.

Paul Lewis Investment Manager

Level 14, 3 Spring Street, Sydney NSW 2000 Telephone (02) 8917 0300 Fax (02) 8917 0355