ASPEN GROUP — Capital/Financing Update 2013

Sep 15, 2013

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----- Start of picture text ----- Aspen Group LimitedABN 50 004 160 927Aspen Property TrustARSN 104 807 767Level 3, Newspaper House129 St Georges Terrace, PerthWestern Australia, 6000Telephone: 08 9220 8400Facsimile: 08 9220 8401Email: homemail@aspengroup.com.au----- End of picture text -----

ASX ANNOUNCEMENT 16 September 2013

SALE OF NON-CORE ASSET – FERN BAY

Aspen Group advises that Fern Bay Seaside Village Ltd, a residential land development syndicate which Aspen Group manages and in which it holds a 45% equity interest, has entered an unconditional sale agreement for the disposal of its landholding for $17.6 million. Settlement under the contract is due in June 2014.

Following the repayment of syndicate bank debt and transaction costs Aspen Group expects to receive net proceeds of approximately $2 million. In addition Aspen Group will extinguish various guarantee obligations in relation to the syndicate of $4.9m.

Aspen Chief Executive Clem Salwin said “This transaction continues the progress that Aspen is making on its non-core asset sale programme, in line with our announced strategy to simplify and focus the business to restore shareowner value”.

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For further information please contact: For media enquiries please contact: Clem Salwin David Tasker Phone: (+61) 8 9220 8400 Professional Public Relations Email: clems@aspengroup.com.au Phone: (+61) 8 9388 0944 Mobile: (+61) 433 112 936 Email: david.tasker@ppr.com.au

Aspen Group ASX Announcement – Fern Bay September 2013