ARC FUNDS LIMITED — M&A Activity 2007

Nov 20, 2007

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21 November 2007

The Manager Company Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000

Dear Sir/Madam

Receipt of takeover proposal from Tidewater Investments

On 20 November 2007, Tidewater Investments Limited ( Tidewater ) announced that it intends to make a takeover bid for all the shares in GoldLink GrowthPlus Limited ( GLC ) for consideration of 3 shares in Tidewater for every 14 GLC shares. The takeover offer is unsolicited.

At this stage, GLC has not received Tidewater's proposed offer and bidder's statement. The directors of GLC who are not associated with Tidewater ( GLC Independent Directors ) are not yet in a position to make a formal recommendation to Shareholders. Mr Andrew Brown and Ms Clare Porta, who are associated with Tidewater, will not participate in consideration of the proposed offer.

Until the GLC Independent Directors have issued their formal recommendation regarding the offer, GLC Shareholders are advised to take no action in relation to Tidewater's proposed takeover bid.

The offer must remain open for at least one month after the date that it is made and GLC Shareholders will have ample time to make a decision in relation to Tidewater's offer.

Minter Ellison has been appointed as legal adviser to GLC.

Yours faithfully

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Tony Suters Company Secretary

GoldLink GrowthPlus Limited ABN 48 111 695 357 Level 3, 88 George Street, The Rocks NSW 2000, Australia Telephone: (61 2) 8264 2500 Facsimile: (61 2) 8264 2588 Email: info@goldlinkgrowthplus.com.au Website: www.goldlinkgrowthplus.com.au