COVENTRY GROUP LIMITED — Capital/Financing Update 2008

May 26, 2008

27 May 2008

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525 Great Eastern Highway Redcliffe WA 6104 Tel : (08) 9276 0222 Fax : (08) 9436 5406

ASX Media Release

UPDATE ON SALE OF AUTOMOTIVE BUSINESSES

Coventry Group Ltd (Coventry) (ASX Code : CYG) is pleased to announce that it has now signed Business Sale Agreements with Burson Automotive Pty Ltd for the sale of most of its Queensland automotive business and with Repco Pty Ltd for the sale of its Northern Territory automotive business. These transactions should be completed prior to 30 June 2008.

As previously announced, the total net result in exiting these businesses should be marginally above the net asset value of the businesses.

Exiting these businesses will enable Coventry to focus on generating results from the investment it has made in its automotive businesses in Western and South Australia.

For further information please contact:

Roger B Flynn Executive Chairman Tel : (08) 9436 5403