CVC LIMITED — Capital/Financing Update 2007

Feb 15, 2007

16 February 2007

Australian Stock Exchange Limited 20 Bridge Street Sydney NSW 2000

By: e-lodgement

Attention: Company Announcements

CVC LIMITED PLACEMENT

CVC Limited (ASX Code: CVC) today announces that it has successfully completed a placement of 55 million ordinary shares in CVC at an issue price of \$2.00 per share and represents a 17.7% discount from the average of the last 5 days on which sales in the shares were recorded.

The placement will raise AUD\$110 million from institutional and sophisticated investors of Bell Potter Securities Limited and Shaw Corporate Finance Pty Limited. The placement was heavily oversubscribed due to the strong investor demand particularly from institutions and key strategic shareholders.

The Placement shares will be issued in two tranches, with the first tranche of approximately 17.4 million ordinary shares in CVC expected to be issued on or around 26 February 2007 under the ASX Listing Rule 7.1. The issue of the second tranche of 37.6 million ordinary shares in CVC is subject to shareholders' approval, which will be sought at a meeting of shareholders to be held in late March 2007. A Notice of Meeting that sets out further details in relation to the Placement will be sent to shareholders shortly.

The shares issued will rank equally with CVC's existing ordinary shares. In addition, CVC will shortly be sending out information to shareholders regarding a Share Purchase Plan (SPP) that is to be run concurrently with the Placement. A SPP provides all shareholders the ability to acquire up to \$5,000 of CVC shares at the same price as the Placement. The record date for the SPP is 19 February 2007.

The funds raised will be used to allow the Company to:

• Acquire the consumer foods division of Green's Foods;
• Pursue identified private equity opportunities;
• Pursue identified direct property opportunities;
• Continue development of existing assets such as Ron Finemore Transport; and
• Acquire / merge with existing equities manager to manage and grow listed share portfolio

In commenting on the raising and the company's prospects, CVC's Executive Director Mr. Sandy Beard stated that, "we are delighted with the positive response to the placement from institutions and professional investors and the amount raised is a strong validation of the investor support for the strategy to be undertaken by CVC. This successful equity raising provides the ability for CVC to reposition itself to be seen by the investment community as an active investment company with broad investment interests across a range of sectors. CVC also intends to extend an opportunity to its existing shareholders to participate in a Share Purchase Plan at the same issue price as the Placement. We are very confident about the future and this is reflected in our strong first half performance of full year 2007 outlook and the increase of the dividend to 12c per share on a full year basis".

Level 42, AAP Centre 259 George Street Sydney NSW 2000

T02 9087 8000 ₣ 02 9087 8088 www.cvc.com.au

CVC are one of the pioneers of the Australian venture capital industry with some very successful investments such as Sunland, Green's Foods, and the newly floated companies Probiotec and Cyclopharm.

Bell Potter Securities Limited was Lead Manager for the Placement and Shaw Corporate Finance Pty Limited was co-manager.

Alexander Beard Director

16 February 2007