ASF GROUP LIMITED — Capital/Financing Update 2012

May 10, 2012

ASF GROUP LIMITED

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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

11 May 2012

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

Dear Madam/Sir

ASF BECOMES CORNERSTONE INVESTOR IN ACTIVEX

Investment in ActivEX

ASF Group Limited (ASX: AFA) is pleased to announce it has become a cornerstone investor in Brisbane based exploration company ActivEX Limited (ASX: AIV) by subscribing for a 15% placement of 24,794,398 shares at 2.7cents per share for an investment amount of $669,448.75.

As a consequence of this investment, ASF Group holds 13.04% of the issued share capital of ActivEX and Ms Min Yang, Chairman of ASF Group, has been invited to join the ActivEX Board of Directors.

Background on ActivEx Limited

ActivEX is a dynamic exploration group with advanced exploration projects and a strong technical team. The company’s Florence Project near Cloncurry Qld has reported significant intersections of copper-gold and cobalt mineralization, and the Barambah Project near Gympie Qld has intersected very high grade gold-silver mineralization. As well, ActivEX’s potash project in W.A. has an established resource and a granted mining lease.

Background on ASF Group Limited

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 in the resources, commodities trading and residential real estate sectors, with a secondary involvement in travel and financial services.

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With the successful monetisation of several of its projects in 2011, ASF now has proven expertise in the transformation of early-stage Australian resource opportunities into deliverable projects through joint venturing with its expanding network of major Chinese mining, trading and strategic investor partners.

As a result ASF Group reported a consolidated profit of approximately $23.7 million for the half year ended 31 December 2011.

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

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