COVENTRY GROUP LIMITED — Capital/Financing Update 2011

Feb 17, 2011

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

ASX Release

18 February 2011

Coventry Group Ltd (Coventry) (ASX code: CYG) today announced that it has decided to exit the automotive parts distribution business in South Australia, which has operated under the name Motor Traders.

As part of that process, Coventry has entered into an agreement with an east coast automotive parts distributor, Burson Automotive Pty Ltd (Burson) to sell most of its automotive operating assets in South Australia to Burson. Burson will take over leases of the branch network and offer employment to most of the employees. Completion of this transaction is expected to occur in the first half of the April – June 2011 quarter.

This transaction involves a sale of assets at a modest premium to their book net tangible asset value and excludes the sale of owned real estate.

In due course, Coventry will sell the real estate it owns in South Australia and that is expected to result in a profit.

Coventry will be working with all stakeholders to ensure the best possible outcome for all in this transition.

Roger Flynn Executive Chairman Coventry Group Ltd