ASF GROUP LIMITED — Director's Dealing 2010

Jul 19, 2010

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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

20 July 2010

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

Dear Madam/Sir

APPENDIX 3Y CORRECTIONS

We wish to advise that the Appendix 3Y lodged for each of ASF Group Directors, Ms Min Yang and Mr David Fang with ASX on 12 March 2009 (and on 13 March 2009) was incorrect in that 4,800,000 shares of ASF held by Sincere Investment Group Ltd (“Sincere Investment”) were mistakenly included as the indirect interests of each of these Directors.

Ms Yang and Mr Fang are neither directors nor shareholders of Sincere Investment and have no relevant interest in the shares of ASF Group held by Sincere Investment.

Correct Appendixes 3Y for Ms Yang and Mr Fang are attached.

William Kuan Company Secretary Ph: +612 92519088 Fax: +612 92519066 www.asfgroupltd.com

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity	ASF GROUP LIMTIED
ABN	50 008 924 570

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Min YANG
Date of last notice	28/11/2008

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest		Direct and indirect interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.		Director, FY Holdings Limited 41,620,000 shares
Date of change		20 July 2010
No. of securities held prior to change		Direct interest 286,500 ordinary shares Indirect interest 41,620,000 ordinary shares held in the name of FY Holdings Limited
Class		Ordinary
Number acquired		N/A
Number disposed		N/A
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

No. of securities held after change Direct interest 286,500 ordinary shares Indirect interest 41,620,000 ordinary shares held in the name of FY Holdings Limited Nature of change The Appendix 3Y lodged on 13 March 2009

Example: on-market trade, off-market trade, exercise of options, issue was incorrectly stated that Ms Min Yang was a of securities under dividend reinvestment plan, participation in buyback director of Sincere Investment Group Ltd and mistakenly included those 4,800,000 shares held by Sincere Investment Group Ltd as her indirect interest.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity	ASF GROUP LIMTIED
ABN	50 008 924 570

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Quan FANG
Date of last notice	28/11/2008

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest		Direct and indirect interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.		Director, FY Holdings Limited 41,620,000 shares
Date of change		20 July 2010
No. of securities held prior to change		Direct interest 10,000 ordinary shares Indirect interest 41,620,000 ordinary shares held in the name of FY Holdings Limited
Class		Ordinary
Number acquired		N/A
Number disposed		N/A
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change		Direct interest 10,000 ordinary shares Indirect interest 41,620,000 ordinary shares held in the name of FY Holdings Limited
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back		The Appendix 3Y lodged on 12 March 2009 was incorrectly stated that Mr Quan Fang was a director of Sincere Investment Group Ltd and mistakenly included those 4,800,000 shares held by Sincere Investment Group Ltd as his indirect interest.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002