ALS LIMITED — Capital/Financing Update 2011

Jul 4, 2011

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asx/media release

5 July 2011

Campbell Brothers sells asset management business

Campbell Brothers Limited (ASX code: CPB) has announced the sale of its asset management business, PearlStreet Energy Services Pty Ltd to leading engineering company, Monadelphous Group Limited (ASX: MND), for approximately $4 million.

PearlStreet Energy Services was part of PearlStreet Limited acquired by ALS in late 2009. PearlStreet Limited now operates as the ALS Industrial Division (FY2011 revenues $112 million). PearlStreet Energy Services manages two long-term operating and maintenance contracts in the power sector in Western Australia. PearlStreet Energy Services accounts for approximately 10 percent of the revenue of the ALS Industrial Division.

The acquisition will become part of Monadelphous’s recently established Infrastructure division.

In announcing the transaction, Campbell Brothers Managing Director, Greg Kilmister, said the company had decided to sell the asset management business as it was seen as non-core to its testing services operations.

“The asset management business is currently reported within Campbell Brothers as part of the ALS Industrial Division. The asset management services activity was viewed as non-core to the Industrial Division of ALS and its divestment allows us to focus more strongly on the asset care strategy of the division, including nondestructive testing and inspection services”.

The transaction will have no material impact on Campbell Brothers’ earnings.

-ENDS-

Further information:

Greg Kilmister Managing Director Campbell Brothers Limited +61 (7) 3367 7900