AUB GROUP LIMITED — Capital/Financing Update 2010

Dec 20, 2010

==> picture [125 x 45] intentionally omitted <==

21[st] December 2010

The Company Announcements Platform Australian Stock Exchange

For Immediate Market Release

Austbrokers Acquisition Update

Austbrokers Holdings Limited (ASX Code: AUB) has continued to expand its business through acquisitions and details of these acquisitions are provided below.

While neither of the acquisitions in its own right ought to be considered material, Austbrokers believes it is now appropriate to update the market.

These acquisitions were announced at the AGM but were subject to the vendor satisfying certain conditions which have now been satisfied.

CEMAC Pty Ltd

Austagencies Pty Ltd a wholly owned subsidiary which operates the underwriting agency business has finalised the acquisition of CEMAC Pty Ltd (CEMAC), a contractor plant and equipment insurance based in Brisbane underwriting agency from Insured Group Limited (IGL).

CEMAC, which is based in Brisbane, writes approximately $9 million in gross written premium.

The final purchase price will be based on the net commission and fees for the twelve months commencing 1[st] December 2010. A deposit of $3.175 million was paid, funded from cash held.

Austbrokers Countrywide

Austbrokers Countrywide, 50% owned by Austbrokers, has now acquired the Victorian insurance broking portfolio of Australian Consolidated Insurance Ltd consisting of approximately $4 million gross written premium, with income of approximately $600,000.

Yours sincerely,

==> picture [106 x 44] intentionally omitted <==

S.S. Rouvray Company Secretary Austbrokers Holdings Limited

For further information, contact Steve Rouvray Tel: (02) 9935 2201

Mobile: 0412 259 158

---

This announcement may contain forward looking statements relating to future matters, which are subject to known and unknown risks, uncertainties and other important factors which could cause the actual results, performance or achievements of Austbrokers and the Austbrokers Group to be materially different from those expressed in this announcement. Except as required by law and only to the extent so required, neither Austbrokers nor any other person warrants that these forward looking statements relating to future matters will occur.