COG FINANCIAL SERVICES LIMITED — M&A Activity 2012

Dec 19, 2012

Armidale Investment Corporation Ltd ABN: 58 100 854 788 Level 11, 139 Macquarie Street Sydney NSW 2000 Tel: 02 8014 1188 Fax: 02 8084 9918

ASX Company Announcements

20 December 2012

AIK – Update on merger discussions with Riverwise.

Riverwise Pty Limited (RPL) has sought input from their shareholders as to whether the RPL Board should seek an offer of merger from Armidale Investment Corporation Limited (AIK).

AIK has been advised that RPL shareholders voted in favour of the RPL Board seeking an offer of merger from AIK.

AIK will therefore commence early in the new year determination of potential terms for an offer of merger between AIK and RPL.

AIK reiterates that it will advise should these preliminary and confidential discussions lead to any definitive agreement. Any transaction will be subject to satisfactory due diligence enquires by AIK of RPL and any shareholder approvals required.

As announced on 22 October, AIK holds 14.97% of RPL shares on issue.

RPL is the sole shareholder of Leading Edge Group Limited (LEG). LEG is an Australian owned company that operates as a telecommunication distributor and Buying Group. It also owns Telstra Business Centres in Victoria and New South Wales, retail and business to business distribution for Telecom New Zealand and is a significant BT distributor in the United Kingdom. Its Buying Group Members have over 1,350 retail shopfronts throughout Australia and New Zealand.

For further information please contact:

Andrew Grant Executive Director 0415 166 090

David Franks Company Secretary 02 9299 9690