ASF GROUP LIMITED — Capital/Financing Update 2012

Oct 31, 2012

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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

1 November 2012

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

Dear Madam/Sir

ASF Group moves to increase stake in ActivEX

The Company is pleased to announce that it has entered into an agreement to subscribe to a further placement of new shares in listed Queensland based exploration company, ActivEX Limited (ASX: AIV) which, on completion, would lift its holding in the company to 19.9%.

Under the agreement the Company, through a wholly owned subsidiary, is to subscribe the sum of $478,539.02 for 23,926,951 fully paid shares in ActivEX issued at 2 cents per share, subject to the approval of ActivEX shareholders at its 2012 Annual General Meeting. Upon subscribing to the placement, ASF Group will be entitled to nominate one additional director to the Board of ActivEX.

ASF Group Chairman, Ms Min Yang said: “We are pleased at the prospect of expanding our shareholding in ActivEX. Our cornerstone shareholding is consistent with our strategy and we view ActivEx’ exploration projects for copper and precious metals to be entering an exciting phase.”

About ASF

ASF is unique among ASX-listed public companies in Australia as a creator and facilitator of two-way cross-border investments, trade and technology transfers between China and Australia. Since its transformation into a Sino-Australian investment and trading house in 2006, ASF has focused principally on the identification, incubation and realisation of embryonic opportunities especially in the resources sector.

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