ASF GROUP LIMITED — Capital/Financing Update 2012

Feb 22, 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

23 February 2012

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

Dear Madam/Sir

Re-acquisition of 40% interest in ASF Properties Pty Ltd

The Directors of ASF Group Limited (the “Company”) are pleased to announce that the Company has exercised its option to re-purchase the 40% equity in ASF Properties Pty Limited (“ ASF Properties ”) and entered into an agreement with Chinese entrepreneur Mr Jianzhong Yang (“ Mr Yang ”) to acquire from Mr Yang the 40% equity interest held by him in ASF Properties for the agreed sum of $1 Million.

ASF Properties is growing as an integrated property group which provides a tailored service in the property services market. Our focus remains on the inward investment by Chinabased 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 continues to specialise in high end residential developments in Australia.

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

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