ASF GROUP LIMITED — Capital/Financing Update 2007

Dec 26, 2007

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ASF GROUP LIMITED

ABN 50 008 924 570 Bennelong Suite 2, 3B Macquarie Street Sydney, NSW 2000, Australia Telephone: (61 2) 9251 9088 Facsimile: (61 2) 9251 9066 www.asfgroupltd.com

27 December 2007

The Manager Company Announcements Australian Stock Exchange 20 Bridge Street Sydney 2000 Via: www.asx.online.com

PROSPECTUS OFFER SUCCESSFULLY CLOSED 21 DECEMBER 2007

ASF Group Limited (ASX: AFA) confirms that its offer for shares under its current Prospectus successfully closed on 21 December 2007 with the company receiving well in excess of the minimum subscription.

The number and total value of shares will be finally tallied over the coming days and following final cheque clearances ASF will announce the total amount received under the Offer and proceed to allot shares and issue holding statements to shareholders.

After final compliance with ASX Listing rules and re-quotation conditions, the expected date for re-quotation of the Company’s shares on the Australian Stock Exchange is expected to be a date in mid January 2008.

For further information contact:

Geoff Baker Executive Director Ph: +612 92519088 Fax: +612 92519066 www.asfgroupltd.com