Independent Auditors' statement to the members of Equity Housing Group Limited.

Respective responsibilities of The Board and Auditors.

The summary financial statements are the responsibility of the Board. Our responsibility is to report to you our opinion as to whether the statements are consistent with the full financial statements and the Board's report.

Basis of Opinion

We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. The audit of summary financial statements comprises an assessment of whether the statements contain all information necessary to ensure consistency with the full financial statements and Board report and of whether the detailed information required by law has been properly extracted from those documents and included in the summary financial statements.

Our report of the Group's full financial statements includes the information on the responsibilities of the Board and Auditors relating to the preparation of an audit of the financial statements and the basis of our opinion on the full financial statements.

Opinion

In our opinion the summary financial statements are consistent with the full financial statements and Board report of Equity Housing Group Limited for the year ended 31 March 2006 and comply with the requirements of the Industrial and Provident Societies Acts 1965 to 2002, the Industrial and Provident (Group Accounts) Regulations 1969, Schedule 1 of the Housing Act 1996 (as amended by the Housing Act 2004) and the Accounting Requirements for Registered Social Landlords General Determination 2006.

Beever and Struthers
Copies of the full financial statements are available upon written request from the Secretary at the Group's office.