ASF GROUP LIMITED — Capital/Financing Update 2011

Dec 21, 2011

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ASF GROUP LIMITED

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

22 December 2011

The Manager Company Announcements Australian Stock Exchange Ltd 20 Bridge Street Sydney 2000 via: www.asxonline.com

Dear Madam/Sir

ACQUISITION OF EXPLORATION TENEMENTS IN QUEENSLAND AND VICTORIA

The Directors of ASF Group Limited (the “Company”) are pleased to announce that the Company has entered into an agreement with Clean Global Energy Limited (ASX: CGV) for the acquisition of coal exploration tenements in Queensland and Victoria.

The acquisition includes 5 granted tenements and 21 tenement applications which are prospective for thermal coal. Of the granted tenements, three are situated in the Queensland part of the Clarence Moreton Basin, one is in the Surat Basin, Queensland and one is located in the Gippsland Basin, Victoria. The total area of the 5 granted tenements is 1,739 sq km.

The Company’s business model is to expand its asset base, often partnering with corporations from China. The acquisition of these tenements in Queensland and Victoria will enlarge the Company’s tenement base in resources activities. The Company is actively seeking other potential investment opportunities in mineral resource projects.

For further information contact Justin Clarke, Development and Operations Director (Ph: 612 9251 9088).

William Kuan Company Secretary Ph: +612 9251 9088 Fax: +612 9251 9066