ACUMENTIS GROUP LIMITED — AGM Information 2009

Nov 5, 2009

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6[th] November 2009

The Manager Company Announcements Office Australian Securities Exchange

Independent Property Valuation Property Research Property Advice Business Advice & Valuation Quantity Surveying

LandMark White Ltd ABN 50 102 320 329 ACN 102 320 329

www.lmw.com.au

Electronic Lodgement

Chairman’s AGM Address

Performance

As noted in our half year report for the six months to 31 December 2008, LMW Group has not escaped the negative effects of the global credit crisis. LMW Group has focused its efforts on both cost cutting and profitability. As a result we have substantially improved our operating performance returning to an operating profit before impairment for the last six months of the financial year and reducing our full year loss before income tax and impairment write-downs to $141,374 compared to the $608,186 loss reported for the first six months. While always a major focus, cash management has become an even higher priority and the benefits from improved management practices in relation to working capital and cash collection have been highlighted by the positive cash flow from operating activities over the 12 months of $1,041,326.

A summary of our results is as follow;

• Sales revenue decreased to $23.563 million, down 21.7% from 2008.

• Pre tax loss of $556,168, including impairment write-downs of $414,794.

• Positive cash flow from operating activities $1,041,326

• Dividend in respect of the 2009 financial year of 2.0 cents paid on 7 October 2009.

• Dividends fully franked.

• LandMark White remains debt free.

• Cash at bank at 30th October 2009 was $1.780 million

As noted above the LMW Group continues to carry no debt, a significant point of difference from many publicly listed companies and beneficial in a time of tight and increasingly expensive liquidity. Without the concerns of debt, Management can continue to implement strategies to combat the effect of the current poor trading environment; concentrating on sound business practice rather than defensively addressing gearing.

Despite the current difficult market conditions LMW Group continues to be in a sound financial position with a strong valuation business. LMW Group’s property valuation business practices (LandMark White & LMW Residential) remained profitable for the financial year.

The effect of a 21.7% reduction in revenues has impacted on our financial performance resulting in a profit after tax for our valuation businesses for the year of $879,377. While a significant decline from our previous year our positive performance especially over the last quarter reflects the resilience of our core business. These results should improve over this

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National Offices: Head Office: Registered Office: Sydney Parramatta Level 15 Ground Floor, Waterside East Tower Melbourne Sunshine Coast 55 Clarence Street 3 Holden Place Brisbane Wollongong Sydney NSW 2000 Bundall QLD 4217 Gold Coast Adelaide Telephone: 02 8823 6300 Telephone: 07 5510 3100 Facsimile: 02 8823 6399 Facsimile: 07 5510 3200

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current financial year as a result of structural changes introduced to our valuation practices over the last 12 months.

While we are confident of the continued improvement in both LandMark White and LMW Residential I note that these traditional valuation practices are linked to transaction activity and lending volumes. Market activity will improve only when credit markets recommence lending at a level that will support property acquisitions and development and when banks seek to expand their loan exposure to property.

Dividend

LMW Group has declared a dividend of 2.0 cents for the financial year down from 5.8 cents for the 2008 financial year. Despite our loss in 2009, the dividend reflects LMW Group’s strong cash position, commitment to our shareholders and our expectations of a positive performance for financial year 2010 as a result of management initiatives over the last 12 months and anticipated improvement in economic conditions.

LMW has continued to pay a dividend every year since listing.

LMW Invest

This new division was a significant drain on the company's profitability for the year and highlights the costs of establishing a property funds management business in such a difficult economic environment.

During the year we launched our Diversified Property Fund and more recently our first direct property trust, the DenisonLMWI Property Trust #1. The property trust failed to attract sufficient funds to settle on the property and the contract was cancelled and all monies raised were refunded.

We formally started active management of the LMWI Diversified Property Fund in early August 2009. The fund has delivered positive returns since opening. The fund invests in Australian REIT’s (Listed Property Funds), overseas REIT’s, Unlisted Property and cash. While both global and Australian REIT’s have fallen considerably in value since their peak, they have recovered since their market lows and indications are that the cycle may well have turned and we are well situated to take advantage of the future upswing in REIT’s.

Guardian

The last 12 months has been a particularly difficult time for Guardian Securities Limited, primarily a contributory mortgage fund working predominately in South East Queensland. The support of the federal government to the banking system has come at the expense of mortgage funds. The banks’ performance over the last 12 months has been significantly strengthened by the government guarantee of their deposits which led initially to significant withdrawals from mortgage funds prompting funds to freeze redemptions. This in turn further reduced investors confidence in mortgage funds with many taking a “wait and see” attitude before investing. Compounding this has been the fall in development activity in South East Queensland and the general banking systems review of borrowers which when combined with falling values, has seen most developers adopting a defensive strategy rather than pursuing further development.

Hence LMW Invest has sold its interest in Guardian Securities Limited on 30[th] September 2009. LMW Invest’s share of the loss for the year ended 30 June 2009 was $114,758. The Board has taken at 30 June 2009 full impairment write-down on our investment in Guardian which has had a significant impact on LMW Group’s result for the last year.

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Corporate Governance

The board maintains high standards of corporate governance and adheres to Company policies and practices with regards to Corporate Governance issues. Details of these and the Remuneration policy for senior executives are contained in our annual report.

Outlook

Responding to the severity of the global downturn we have reviewed all costs, services, infrastructure and marketing, adapting as appropriate to changing market conditions during the past year. While reviewing and adopting new strategies we have remained true to our beliefs – an understanding of our clients’ needs, our culture of excellence and long term vision.

The knock-on effects of these extraordinary global conditions may vary but we recognise that the great majority of our clients face the same key issues that we do – the need for downsizing, capital cost reduction, total value management, business sustainability, and the control and reduction of overheads and expenditure.

Our operational teams have clear primary objectives – to deliver services of the highest quality, to be responsive, retain existing clients, and win new ones. Our aim through this economic downturn has been to come out of it stronger than we were before it started.

Market conditions may have changed but the priorities that drive our vision have not. We have not lost sight of the need to continue to invest for the future. It is recognised that troubled markets create opportunity. So while we have made significant commitment to realign the business to reflect market conditions, we have never lost our focus.

With improved property conditions now appearing on the horizon, we are in a strong position to improve net profit as the market recovers. We do note that an important part of the national and global recovery, especially for property, will be the ongoing availability of finance and this will continue to affect most companies and markets over the next few years.

The 2009–2010 year will continue to prove challenging, but the market will recover, steadily improve, and we have every confidence that LMW Group will emerge as an even stronger force in the future.

For the three months to 30[th] September 2009 the LMW Group NPBT is slightly above breakeven. Revenues are comparable to the same period last year however the NPBT has improved by $428,000. Compared to the same quarter in 2007/2008 (excluding LMW Invest) revenue is down by $1.878 million; however NPBT is only down $256,000.

While the market will undoubtedly continue to offer challenging times we are in a position to take full advantage of a market upturn.

As always, but especially in these market conditions, I would like to thank management and staff, not only for their dedication and commitment to the company, but their understanding and assistance in making those very tough changes needed to ensure our ongoing success. It has been a great pleasure to work with some of the most experienced people within the property valuation profession. We have seen a significant improvement in our businesses over the last quarter of the 2009 financial year and I look forward to bringing better news to staff and our shareholders as this financial year unfolds.

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Finally I would like to thank our shareholders for their support and I look forward to working with the board and all employees to create value for our shareholders.

Glen White

Chairman and Non-Executive Director

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