<TABLE>
<CAPTION>
NOTEHOLDERS REPORT
------------------
CRUSADE GLOBAL TRUST No. 1 of 1999
Quarterly Payment Date falling on May 15, 2000
Bond Information in US$
-----------------------
Interest Interest Principal Charge
FV Outstanding Bond Factor Rate Payments Distributions Offs
----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Class A1 $115,546,588.17 38.515529% 6.34625% $2,843,880.30 $63,701,333.29 $0.00
Notes
Class A2 $569,000,000.00 100.000000% 6.42625% $9,141,340.63 $0.00 $0.00
Notes
Class A3 $125,000,000.00 100.000000% 6.51625% $2,036,328.13 $0.00 $0.00
Notes
</TABLE>
Principal Collections Information in AUD
----------------------------------------
Scheduled Principal Payments: $10,277,463.76
Unscheduled Principal Payments: $96,057,740.38
Redraws: ($8,030,677.46)
---------------------
Principal Collections: $98,304,526.68
Principal Charge Offs: $0.00
Principal Draw: $0.00
---------------------
Available Principal: $98,304,526.68
---------------------
Principal Distributed: $98,304,526.68
Principal Retained: $0.00
---------------------
Total Available Funds in AUD
----------------------------
Available Income: $23,405,919.84
Principal Draw: $0.00
Liquidity Draw: $0.00
----------------------
Total Available Funds: $23,405,919.84
Exh-1
<PAGE>
Redraw/Liquidity Utilization
----------------------------
Redraw Shortfall: $0.00
Redraw Carryover Charge Offs: $0.00
Liquidity Draw: $0.00
Liquidity Shortfall: $0.00
Arrears Information
-------------------
% of pool (by number)
31 - 59 days: 0.50%
60 - 89 days: 0.15%
90+ days: 0.04%
Defaults: Nil
Losses: Nil
Payment Information (CPR)
-------------------------
April-00 March-00 Feb-00
1 mth CPR: 23.34% 26.84% 20.42
Pool Information in AUD
-----------------------
Outstanding Principal of Fixed Rate Housing Loans: $314,796,890.48
Outstanding Principal of the Variable Rate Housing Loans: $943,772,489.88
Number of Loans: 13,603
Weighted Average Current LVR: 58.73%
Average Loan Size: $92,685
Weighted Average Seasoning: 36.68 mths
Average Term to Maturity: 239 mths
Exh-2
