CVC LIMITED — Capital/Financing Update 2006

Jan 8, 2006

Manager, Company Announcements Australian Stock Exchange Limited PO Box H224 Australia Square NSW 1215

ASX Announcement

UPDATE ON STARGAMES LIMITED

On 15 November 2005, CVC advised that, in conjunction with an Offer to acquire all the shares in Stargames Limited (ASX code: SGS) by US gaming company, Shuffle Master Inc $("SMI");$

• CVC had granted SMI a call option under which it could require CVC to sell to SMI the 16.9 million shares it holds in Stargames Limited for a cash consideration of \$1.55 per share:
• Under the terms of the option, if SMI declares that the Offer is unconditional, it must exercise the option (and thereby acquire CVC's shares in Stargames Limited); and
• If the option was exercised it would crystallise a profit on the shares for CVC of approximately \$16.5 M.

On 22 December 2005, CVC updated shareholders on the progress of the Offer and in particular in relation to the conditions attached to the offer.

Today, CVC is pleased to announce that SMI has now declared the Offer to be free of all conditions and that, in accordance with the call option agreement. CVC now expects that the call option will be exercised.

Alexander Beard Chief Executive Officer

9 January 2006