COMPLII FINTECH SOLUTIONS LTD — Board/Management Information 2004

Jun 16, 2004

The Manager Company Announcements Office Australian Stock Exchange Level 6, 20 Bridge Street SYDNEY NSW 2000

17 June 2004

Dear Sirs

Resignation of Michael Alscher

Please see attached statement in relation to the resignation of Mr Michael Alscher from the Gowings Retail Limited Board of Directors.

Yours faithfully

Clareson

Chris Charleson Company Secretary

Resignation of Michael Alscher

The Chairman of Gowings Retail Limited, Mr John Gowing, today announced that Mr Michael Alscher tendered his resignation as a Non-Executive Director of Gowings Retail Limited and Chairman of the Audit Committee effective 15 June 2004. Mr Gowing indicated that the members of the Board reluctantly accepted Mr Alscher's decision to resian.

Mr Alscher's resignation was necessitated by increased work commitments as an Executive Director of Crescent Capital Partners Limited, which would reduce his ability to dedicate adequate time to his role as a Non-Executive Director of Gowings Retail Limited.

In announcing Mr Alscher's decision, Mr Gowing acknowledged the significant contribution Michael had made to the company over the years, from his earlier role as Chief Operating Officer of Gowing Bros Limited, which at that time included the retail business, through to his more recent contributions as a Non-Executive Director of Gowings Retail Limited, following its listing in December 2001.

"Michael has been a valuable asset to the Gowings retail business over the years. He has been pivotal to the business, especially during the period of separately listing Gowings Retail Limited on the ASX, and during the difficult trading periods which have been experienced over the last two years" Mr Gowing said.

For further information please contact:

Chris Charleson Chief Financial Officer and Company Secretary Phone: 02 9287 6385