ECP EMERGING GROWTH LIMITED — Net Asset Value 2015

Nov 9, 2015

Company Announce m ents Offi ce Australia n Stock Ex change, Level 6, 2 0 Bridge S treet SYDNEY NSW 1 215

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S u i t ee 3 0 5 , L e v e l 3 3 4 3 GG e o r g e S t r e e t S Y D NN E Y N S W 2 0 0 0 T e l : 00 2 8 6 5 1 6 8 0 0 F a x : 0 2 8 6 5 1 6 8 9 9 P O BB O X R 8 4 8 R o y a l E x c h a n g e N S W 1 2 2 5 10 Nove m ber 2015

Net Tangi ble Asset Backing a t 31 Octo ber 2015 The unau d ited NTA of the Co m pany was as follow s :

	Befoestimaton unregainreed taxaliseds	Afterestimatedon unrealgainstaxised
aat 31Ot 30Sctober 20eptember152015	112.5105.40 c0 c	109.77103.81cc

The NTA per share of the co m pany inc reased at 31 October 2015 co m pared to the previ o us month.

As menti o ned befor e, the fun ds in the C ompany h ave been invested i n compan i es that m e et our finan c ial metric s includin g organic s ales grow th, earnin g s and div i dend gro w th and wh i ch we believ e will pr o vide the i mpetus f o r an impr ovement i n valuatio n s over o u r three y e ar time hori z on.

The top 5 investme n ts of the c ompany a t 31 Octob er 2015 are:

Name ofcompany		% of totalvalue ofportfolio
Real Estate Group		10.94%
PlatinumAsset Mana	gement	8.34%
Pacific Smiles Group		7.51%
IPH Limited		7.07%
Trade Me		6.30%

For furth er inform a tion pleas e call the C ompany S ecretary on (02) 8 815 5400.

Yours fa i thfully, BARRAC K ST IN VESTMENTS LIM ITED

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Brian Jo nes Company Secretar y