ASF GROUP LIMITED — Share Issue/Capital Change 2008

Jan 24, 2008

==> picture [117 x 34] intentionally omitted <==

ASF GROUP LIMITED

ABN 50 008 924 570 Bennelong Suite 2, 3B Macquarie Street Sydney, NSW 2000, Australia Telephone: (61 2) 9251 9088 Facsimile: (61 2) 9251 9066 www.asfgroupltd.com

15 January 2008

STATEMENT OUTLINING THE NUMBER AND TYPE OF SECURITIES SUBJECT TO ESCROW ON REQUOTATION OF ASF GROUP LTD

ASF Shares

Number of Ordinary Shares under ESCROW conditions Period

Ordinary shares

2007 share Placement preconsolidation Debt conversion - Services

92,267,850 24 months 12 months from 12,540,000 investment 180,000 Until 18 July 2008 104,987,850