EXHIBIT 1
ARMS II Global Fund I
Bondholders Report Related to the March 10, 2004 Distribution
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Reference to ARMS II GLOBAL FUND 1
Schedule 8 of
the Bond BONDHOLDERS REPORT RELATED TO MARCH 10, 2004 DISTRIBUTION
Trust Deed
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REPORTING DATES
Cut-Off Date February 29, 2004
Determination Date March 8, 2004
Payment Date March 10, 2004
Start Interest Period December 10, 2003
End Interest Period March 9, 2004
No. of Days in Interest Period 91
Start Calculation Period December 1, 2003
End Calculation Period February 29, 2004
No. of Days in Calculation Period 91
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SECURITIES ON ISSUE Amount Amount
(US$) (A$)
CLASS A BONDS
Initial Face Value 1,000,000,000 1,525,553,013
Previous Principal Distribution 125,800,000 191,914,569
Principal Distribution for current calculation period 47,800,000 72,921,434
Total Principal Distribution to date 173,600,000 264,836,003
Beginning Principal Amount 874,200,000 1,333,638,444
(a) Ending Principal Amount 826,400,000 1,260,717,010
less Unreimbursed Charge-offs - -
Beginning Stated Amount 874,200,000 1,333,638,444
(a) Ending Stated Amount 826,400,000 1,260,717,010
CLASS B BONDS
Initial Face Value 50,500,000
Previous Principal Distribution -
Principal Distribution for current calculation period -
Total Principal Distribution to date -
Beginning Principal Amount 50,500,000
(a) Ending Principal Amount 50,500,000
less Unreimbursed Charge-offs -
Beginning Stated Amount 50,500,000
(a) Ending Stated Amount 50,500,000
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INTEREST RATE FOR ACCRUAL PERIOD Libor / Interest Interest
Bank Bill Rate Margin Rate
US$
Class A Bonds 1.17125 0.23000 1.40125
A$
Class A Bonds (payable to Currency Swap Provider) 5.45670 0.35100 5.80770
Class B Bonds 5.45670 0.90000 6.35670
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DISTRIBUTIONS PAYABLE ON PAYMENT DATE (US$) (A$)
Interest Entitlement:
(b) Class A Bonds 3,096,459 19,310,379
(b) Class B Bonds 800,335
Principal Repayment:
(c) Class A Bonds 47,800,000 72,921,434
Class B Bonds
(c) Total:
Class A Bonds 50,896,459 92,231,814
Class B Bonds 800,335
Total 50,896,459 93,032,148
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Reference to ARMS II GLOBAL FUND 1
Schedule 8 of
the Bond BONDHOLDERS REPORT RELATED TO MARCH 10, 2004 DISTRIBUTION
Trust Deed
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POOL FACTORS Last Current
Distribution Distribution
Date Date
(h) Class A Bonds 0.8742 0.8264
Class B Bonds 1.0000 1.0000S
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(d) INCOME COLLECTIONS FOR CALCULATION PERIOD 60,917,872.59
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AVAILABLE AMORTISATION AMOUNT (A$)
(i) Scheduled Principal Collections 2,419,775
(i) Unscheduled Principal Collections 90,365,079
Gross Principal Collections 92,784,853
less
(g) Redraw Advances, Line of Credit Advances and
Permitted Further Advances 19,845,924
(e) Net Principal Collections 72,938,929
Application of Cash Reserve and Advances
Reserve as Available Amortisation Amount (17,495)
(l) Charge-offs and Unreimbursed Charge-offs 0
(f) Available Amortisation Amount 72,921,434
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PORTFOLIO INFORMATION
(based on Loans forming part of the Assets of the
Fund as at the last day of the Calculation Period)
(j) Aggregate Face Value of Loans 1,306,728,937
Total number of Loans 5,795
Average Loan Balance 225,492.48
Weighted Average LVR 76.9712
Seasoning No of Loans % Total Balance
6 - 12 months 1,188 20.67% 270,117,277
12 - 18 months 3,588 62.97% 822,795,768
18 - 24 months 432 7.62% 99,609,726
24 - 36 months 196 3.52% 46,022,069
36 - 48 months 145 2.11% 27,516,330
48 - 60 months 129 1.84% 24,035,277
> than 60 months 117 1.27% 16,632,491
5,795 100.00% 1,306,728,937
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(k) AGGREGATE LOSS AMOUNT NIL
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(m) DELINQUENCY AND LOSSES
DELINQUENCY No of % of (A$) Amount % of
Loans Pool of Loans Pool
31 - 60 days 24 0.41% 6,688,078.56 0.51%
61 - 90 days 10 0.17% 2,729,138.27 0.21%
90+ days 20 0.35% 4,890,111.42 0.37%
LOSSES AUD
Mortgage Insurance claims made Nil
Mortgage Insurance claims paid Nil
Mortgage Insurance claims pending Nil
Mortgage Insurance claims denied Nil
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