ASF GROUP LIMITED — Board/Management Information 2009

May 5, 2009

ASF GROUP LIMITED

ACN 008 924 570

Bennelong, 2/2B Macquarie Street Sydney NSW 2000 Telephone: (61 2) 9251 9088 Facsimile: (61 2) 9251 9066 www.asfgroupltd.com

6 May 2009

The Manager Company Announcements Australian Stock Exchange Ltd 20 Bridge Street SYDNEY NSW 2000

Via: WWW.ASX.ONLINE.COM

Dear Sir

APPOINTMENT AND RESIGNATION OF DIRECTORS

The Board of ASF Group Limited (ASX: AFA) confirm that the following Directors were appointed at the Annual General Meeting of Shareholders held on 28 November 2008. The election of these three directors at the 2008 Annual General Meeting was announced to the ASX on 1 December 2008.

Mr Qinglin Zhang

Mr. Zhang resides in Beijing, China. He graduated from the Harbin Construction Engineering Institute, China in June 1968 majoring in heating and ventilation engineering. He was recognized as a professorlevel senior engineer by the Ministry of Personnel in 1997.

Mr. Zhang serves as a member of the Tenth National Committee of the Chinese People’s Political Consultative Conference and for many years held senior positions in the China Ministry of Construction and the China State Construction Engineering Corporation.

Ms Lily Hongzhen Liu

Ms. Liu resides in Hong Kong. She graduated from the Guangdong University of Foreign Trade and Economic and obtained a Master degree in Business Administration from the University of San Francisco in the United States.

Ms. Lily Hongzhen Liu is the General Manager of the Investment Division of CITIC International Assets Management Limited (“CIAM”) responsible for deal sourcing and direct investments with focus on energy, resources and environmental protection. She has over 20 years experience in international trading, direct investment, venture capital fund management.

RESIGNATION OF DIRECTOR

Mr Shikeng Zhang

Mr S Zhang was appointed a director at the Company’s 2008 AGM however due to personal reasons has resigned as a director as of 26 February 2009.

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Barry F. Neal Company Secretary