COMPLII FINTECH SOLUTIONS LTD — Earnings Release 2003

Feb 4, 2003

5.FEB.2003 $8:11$ GOWINGS

FAX

NO.423 $P.1/2$

Gowings Retail Limited

Level 8, 45 Market Street SYDNEY NSW 2000 Phone (02) 9264 6321 Fax (02) 9261 3020

To:	Company Announcements Office		From:	Michael Faulkner
Company:	Australian Stock Exchange		Pages: 2
Fax:	1300 300 021		Pate:	5 February 2003
Re:	Earnings Guldance
$\square$ Urgent	$\square$ For Review	$\square$ Please Comment		$\Box$ Please Reply	$\Box$ Please Recycle

To follow is an Earnings Guidance for immediate release.

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The information in this facsimile is privileged and confidential and intended only for the named recipient. The copying and
distribution of any of the information contained in this facsimile other than by the named recipie us at the above address.

Gowings Retail Limited ACN 098 238 585

5 February 2003

The Manager Company Announcements Office Australian Stock Exchange Limited Level 10, 20 Bond Street SYDNEY NSW 2000

The Directors of Gowings Retail Limited issue the following earnings guidance to the market:

Following a review of results for the five months ending 31 December, and taking into account the likely trading environment for the remainder of the financial year the final EBIT is likely to be \$700,000 to \$1 million.

The main reason for the downgrade being that December trading was much slower than expected, especially considering the strong build up that we had experienced in November where like for like sales were trading at approximately 10% ahead of last year.

The Board has initiated a strategic review of all facets of the company's business with specific goals being set to:

• develop an integrated marketing plan to raise the profile of the regional stores,
• raise awareness of the brand and range of goods being sold, and
• continue our uncompromising position to operational costs. $\frac{1}{2}$

For further comment please contact:

Peter Sillick Managing Director Ph: (02) 9264 6321