notes to the financial statements for the year ended 30 June 2001 the relevant Exercise Condition Test Period which have been in the S&P/ASX 200 Industrials for the full term of the Exercise Condition Test Period (Test Companies) measured over the same period. 2,350,000 options were granted on 26 April 2001 under the Transurban Executive Options Plan to eight senior executives of Transurban City Link Limited. These options represent 2,350,000 potential units in the Trust and therefore the equivalent number of Stapled Securities. At 30 June 2001, no Stapled Securities had been issued pursuant to these options. TSR measures the total return on investment of a security. It takes into account both capital appreciation and distribution income. Transurban and each of the Test Companies will be ranked according to their respective TSRs over the Exercise Condition Test Period. The ranking determines the extent to which vested options may be exercised. If Transurban’s TSR exceeds the 65th percentile of the ranking, 100% of the vested options may be exercised. If Transurban’s TSR is below the 25th percentile of the ranking, none of the vested options may be exercised. If the TSR falls between these percentiles, the percentage of vested options that may be exercised will be calculated according to a formula.  Each option is granted at no cost to the Optionholder. The exercise price is $3.817, which was the weighted average market price over the week preceding the issue. Options vest in three equal tranches on the second, third and fourth anniversaries of their issue. The Exercise is subject to an Exercise Condition. The Exercise Condition involves a comparison between Total Shareholder Return (TSR) of Transurban’s Stapled Securities over the two years prior to a vesting date of options and the TSR of each of the other companies in the S&P/ASX 200 Industrials as at the end of 2001 2000 $’000 $’000 17. REMUNERATION OF AUDITORS Remuneration for audit or review of the financial reports of the Trust 13 19 Remuneration for other services provided by the Trust’s auditors  3 11 Gai M McGrath, Rohan W Mead, Michael J Stefanovski,  Phillip A Vernon. The name of each person who was a director of the Trust Manager from the beginning of the financial year until 30 March 2001 is as follows: Michael S Hamson, W Richard Sheppard, Kenneth H Spencer, Anthony L Kahn (alternate for W R Sheppard). On 30 March 2001, under the Managed Investment Act 1998, Perpetual Trustee Company Limited became the Responsible Entity for the Trust. Prior to 30 March 2001, a dual entity structure existed which comprised the Trustee (Perpetual Trustee Company Limited) and the Trust Manager (City Link Management Limited). The Trust is an ultimate chief entity.  The name of each person who was a director of the Responsible Entity at any time from 30 March 2001 until the end of the financial year are as follows: 16 Directors Controlling Entities 18. RELATED PARTY INFORMATION c) Options