Australian Pipeline Limited as the responsible entity of Australian Pipeline Trust provides the following information:
Distribution in respect of the quarter ended 31 March 2002 made
up as follows:
5.0 cents per unit
Income distribution per unit 3.0 cents
Capital distribution per unit 2.0 cents
Total distribution per unit 5.0 cents
The income component of the distribution will be unfranked.
The record date for determining unitholder’s entitlement to the distribution will be the close of business on 11 June, 2002. The date for payment of the distributions is 26 June, 2002.
For unitholders who hold their investments on capital account, the capital distribution component will be treated as a return of capital. The repayment of capital will reduce unitholders’ cost base (indexed cost base) for capital gains tax purposes.
Total Distributions Paid during Year ending 30 June 2002.
Distribution Period Income
CPU
Capital
CPU
Total Distribution
CPU
Qtr ended 30 June 2001 (paid 26
September 2001)
5.0 1.0 6.0
Qtr ended 30 September 2001 3.0 2.0 5.0
Qtr ended31 December 2001 3.0 2.0 5.0
Qtr ended 31 March 2002 (current
distribution)
3.0 2.0 5.0
Total 14.0 7.0 21.0
Note : all distributions are unfranked.
The Directors are of the opinion that the business is performing in accordance with expectations.

G H Bennett
Chairman