FED:Asbestos fund faces shortfalls, Hardie says can't pay more=3

AAP General News (Australia)
04-23-2009
FED:Asbestos fund faces shortfalls, Hardie says can't pay more=3

James Hardie and the NSW government entered into an agreement - the Amended and Restated
Final Funding Agreement (AFFA) - in 2006 to provide long-term funding to meet expected
Australian asbestos-related personal injury claims.

Under the terms of the agreement, James Hardie's contributions to the fund are set
at a maximum of 35 per cent of its annual net operating cash flow, including reductions
for company contributions to the fund and tax payments.

James Hardie paid $118 million to the fund during 2008/09, but said it was not expected
to make a contribution to the fund in 2009/10 under the terms of the agreement.

AAP lm/pe/ldj

KEYWORD: JAMES HARDIE FUND 3 SYDNEY

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