ARC FUNDS LIMITED — M&A Activity 2008

Feb 4, 2008

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5 February 2008

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

Dear Sir/Madam

EXTENSION OF TIDEWATER OFF-MARKET TAKEOVER OFFER

The Independent Directors of GoldLink GrowthPlus Limited ( GLC ), being Mark Smith and Robert van Veenendaal who are not associated with Tidewater Investments Limited ( Tidewater ), note Tidewater's recent announcement that its takeover offer for all the issued shares in GLC is extended until 5.00pm (Australian Eastern Standard Time) on Friday 8 February 2008 .

The Independent Directors remind GLC Shareholders that:

1. If they intend to follow the recommendation of the Independent Directors to accept Tidewater's offer and make the Cash Election, they need to do ALL of the following:

   • accept Tidewater's Offer in accordance with section 8.6 of the Bidder’s Statement. Shareholders may accept Tidewater's Offer for ALL or ANY of their GLC Shares. Make sure you place the number of GLC Shares you wish to accept into Tidewater's Offer in the box provided for that purpose on the Acceptance and Transfer Form; and

   • make the Cash Election by signing and completing the Election Response Form, which was enclosed with the First Supplementary Bidder's Statement, and

   • send the completed Election Response Form, together with the completed Acceptance and Transfer Form to Tidewater or Registries Limited. The relevant address details are set out in the Acceptance and Transfer Form provided with Tidewater's Bidder's Statement.

The Election Response Form, together with the completed Acceptance and Transfer Form, need to be received by Tidewater or Registries Limited on or before 5.00pm (Australian Eastern Standard Time) on Friday 8 February 2008.

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

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If you do not have either of these forms, you should contact Tidewater or Registries Limited as soon as possible and request that they send you the relevant form. Their phone numbers are as follows:

Tidewater 02 8250 0011 Registries Limited 02 9290 9600

1. If Shareholders have already accepted the Offer (but not previously made the Cash Election), they will have a further opportunity after the close of the Offer Period on Friday 8 February 2008 to elect to receive the Cash Alternative. To this end, Tidewater has stated in its second supplementary bidder's statement that it will provide accepting Shareholders a further Election Notice after the close of the Offer Period. Shareholders will be able to make the Cash Election at that time by completing and returning to Tidewater the Election Response Form, any Tidewater shares already received and any necessary transfer documents within 1 month after you receive the written notice from Tidewater of your right to make the Cash Election.

Further details are contained in the Target's Statement issued by GLC and dated 7 January 2008. Shareholders are urged to read that document.

Shareholders with further queries can contact GLC on (02) 8264 2533.

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