AMA GROUP LIMITED — Capital/Financing Update 2007

Jul 11, 2007

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12 July 2007

Allomak Limited ASX Announcement

ALLOMAK ACQUIRES LEADING VICTORIAN SMASH REPAIRER AND PROVIDES FY08 EARNINGS GUIDANCE

Allomak Limited (ASX:AMA) today announced it has entered into an agreement to acquire the business of Mr Gloss Holdings Pty Ltd[1] (“Mr Gloss”). The agreement, which is subject to final due diligence and Allomak Board approval is expected to be finalised next month.

Mr Gloss has built a reputation for outstanding work within the smash repair industry over the past two decades by developing and focusing on service and quality systems. Mr Gloss is currently operating two of Victoria’s leading workshops, including a prestige vehicle workshop at Moorabbin, currently recommended for BMW, Lamborghini, and other prestige brands.

Allomak plans to capitalise on Mr Gloss’ existing plans to acquire other quality smash repair businesses and expand to other key capital city and regional areas. With systems that provide an exceptional level of information to support key customer groups including fleet operators and insurance companies, Mr Gloss is a logical fit to Allomak’s existing suite of businesses in the wholesale automotive aftercare market.

Managing Director of Allomak, Mr Rob Allan, said; “The smash repair market has been in need of someone to take the lead on industry consolidation in a way that supports the key industry stakeholders and we believe Mr Gloss is a strong player that can develop a national brand.

“Mr Gloss is an established business with a national expansion plan and Allomak is well positioned to drive this process forward.

“We also believe that the addition of Mr Gloss will benefit some of our existing automotive aftermarket businesses, and we are now exploring possible synergies.”

General Manager of Mr Gloss, Mr Ray Malone, said; “With more than 22 years of successful operation in Melbourne, our business model is structured to merge other quality smash repair businesses Australia wide. We rolled out our systems successfully to another workshop following an acquisition last year and the results have been very pleasing.

“Allomak is an ideal partner for us because it brings the necessary resources, national support infrastructure and industry consolidation expertise to drive our model forward, and I am excited about our future together.”

Acquisition Terms

Although the specific terms of the transaction are confidential, Allomak advises that the acquisition of Mr Gloss will be EPS accretive for the current financial year, and the acquisition multiple (ie multiple of current years earnings) is within the parameters of previous acquisitions and within the previously advised target range. The acquisition payment will be a combination of cash and Allomak equity, the latter component being subject to voluntary twelve month escrow provisions.

1 Trading as Mr Gloss Moorabbin, Mr Gloss Hallam and Karrin Coachworks (Hallam)

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Earnings Guidance

The combination of Allomak’s current operations, including its more recent acquisitions, the performance improvement initiatives underway, and the addition of the Mr Gloss business, is expected to result in Earnings Before Interest and Tax of $10 million for the 2008 Financial Year. This represents a 70% increase over the FY07 prospectus forecast of $5.85 million.

About Allomak Limited

Allomak Limited is a listed public company with expertise in transitioning businesses through succession planning and generational change, and initially focused on the automotive aftercare market and related industries. Allomak is building its business through growth, support and identification of synergies between existing operating companies as well as further acquisitions. Businesses currently in the group include ECB, Dyno Dynamics, Autolac, Fluidrive Transmissions, Perth Brake Parts, Dual LPG and Diesel Test.

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For further information contact: Peter Brookes or Pip Green, Cannings, 02 9252 0622

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