ASF GROUP LIMITED — Capital/Financing Update 2011

Jun 9, 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

10 June 2011

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

Dear Madam/Sir

ASF GROUP LIMITED RECEIVES A$1 MILLION FOR A 40% SHARE IN ITS WHOLLY-OWNED REAL ESTATE SUBSIDIARY, ASF PROPERTIES PTY LTD.

The directors of ASF Group Limited (“ASF”) are pleased to announce that ASF has completed an agreement with Chinese entrepreneur Mr Jianzhong Yang (“Mr Yang”) for the sale to Mr Yang of a 40% equity interest in ASF Properties Pty Limited (“ASF Properties”) for the sum of $1 Million.

ASF Properties is an integrated property group which provides a tailored service. Our focus is on the inward investment by China-based high net worth and corporate investors.

ASF Properties represents an important strategic platform in ASF’s role as a ‘bridge’ for China-based investors to access the Australian real estate market, an important part of which is its marketing network. ASF Properties specialises in high end residential development in Australia.

The directors of ASF believe that, by bringing in Mr Yang as an active partner, who has extensive business experience and relationships in China, ASF Properties will be able to continue to develop profitable opportunities in both the Australian and Chinese real estate markets.

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