ASF GROUP LIMITED — Capital/Financing Update 2013

Dec 18, 2013

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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

19 December 2013

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

Dear Madam/Sir

Conversion and partial repayment of Convertible Facility

ASF Group Limited (“ ASF ”) refers to its $9 million convertible facility (“ Convertible Loan ”) with Star Diamond Developments Limited (“ Star Diamond ”) and is pleased to announce that it has partly repaid to Star Diamond a principal amount of $3 million by way of conversion and cash.

The repayment was satisfied by the payment of $500,000 in cash and the issuance or transfer of fully paid ordinary shares with the total value of $2.5 million to Star Diamond (or its nominees) as set out below:

Company NameASF Capital Pty LtdActivEX LtdASF Resources Ltd		LoanConversionAmount$500,000.00$1,000,000.00$1,000,000.00$2,500,000.00	%	of interest Heldby ASF afterConversion59.51%24.71%53.69%	% of interest Held by StarDiamond (or its nominees)after Conversion40.49%15.24%32.91%

ASF is still in negotiation with Star Diamond for possible further conversions and when the basis of conversion is agreed, a further announcement will be made.

Information 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 funds management 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 opportunities across various industries.

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

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