ASPEN GROUP — Board/Management Information 2007

Aug 6, 2007

Aspen Group Limited ABN 50 004 160 927 Aspen Property Trust ARSN 104 807 767

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Level 8, Septimus Roe Square 256 Adelaide Terrace, Perth Western Australia, 6000 Telephone: 08 9220 8400 Facsimile: 08 9220 8401

Email: homemail@aspengroup.com.au

ASX ANNOUNCEMENT 7 AUGUST 2007

APPOINTMENT OF MR MATTHEW MCCANN AS A NON-EXECUTIVE DIRECTOR

Aspen Group (ASX:APZ) is pleased to announce the appointment of Mr Matthew McCann as an Independent Non-Executive Director of both Aspen Group Limited and Aspen Funds Management Limited.

Matthew McCann, presently Head of Property Funds and M&A for Australasia at Babcock and Brown, has over 20 years experience in the corporate sector where he has specialised in property and law. More specifically he enjoyed a successful legal career with Allen Allen & Hemsley in both Sydney and New York, culminating in his appointment as a partner in 1993 before joining Babcock and Brown in 1997 where he has forged a strong reputation as a senior property executive, and now director of several Babcock and Brown operating entities. He will continue in his present role with Babcock and Brown following this appointment.

Aspen Group Managing Director Mr Angelo Del Borrello said the appointment of Mr McCann adds substantial expertise to the Group.

“Matthew has a detailed knowledge of the real estate market both in Australia and overseas and we believe his experience, particularly over the past ten years will be invaluable to Aspen as we continue our growth strategy” said Mr Del Borrello.

Aspen Group welcomes Mr McCann to the Board and looks forward to his contribution.

-END-

For further information please contact:

Angelo Del Borrello John McGlue Managing Director, Aspen Group Porter Novelli Phone: (08) 9220 8400 Phone: (08) 9386 1233 Mobile: 0419 335 411 Mobile: 0417 926 915

Or visit www.aspengroup.com.au

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