DOWNER EDI LIMITED — Capital/Financing Update 2008

Oct 30, 2008

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RELEASE TO AUSTRALIAN SECURITIES EXCHANGE (“ASX”)

FRIDAY, 31 OCTOBER 2008

CONDITIONAL SETTLEMENT - DOWNER

1. The Board of Directors of IMF (Australia) Ltd (“IMF”) is pleased to announce the conditional settlement of claims it has funded for shareholders of Downer EDI Limited (ASX: DOW). The shareholders were represented by Slater & Gordon.

2. The terms of the conditional settlement are confidential between the parties. The settlement will become unconditional if approved by at least 50% by value of funded persons.

3. If the settlement becomes unconditional, it is currently estimated that IMF will receive revenue of approximately $6.8M from this investment and generate a profit from the investment of approximately $5.8M (before tax). IMF will update this estimate if and when the settlement becomes unconditional.

4. If the settlement becomes unconditional IMF expects to be paid prior to 31 December 2008.

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Rob Ferguson Executive Chairman

IMF#79163_2