EXCELSIOR CAPITAL LTD — Board/Management Information 2007

Jul 24, 2007

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CMI Limited ABN 98 050 542 553 Level 4 240 Margaret Street Brisbane Qld 4000 Australia Postal address: PO Box 15844 City East Brisbane Qld 4002 Australia Telephone: (07) 3004 8188 Facsimile: (07) 3004 8180 Email: corporate@cmilimited.com.au Web: www.cmilimited.com.au

25 July 2007

Company Announcements Office Australian Stock Exchange 123 Eagle Street Brisbane Qld 4000

Dear Sirs,

APPOINTMENT OF MANAGING DIRECTOR

The directors are pleased to advise that Mr Raymond Catelan has accepted the appointment as Managing Director of CMI Limited (“CMI”) and its subsidiary companies with effect from 3 July 2007.

Raymond Catelan has been a director of CMI since 18 May 2007. He has managed large operating businesses conducting business in every state of Australia and New Zealand. He has been Managing Director of two ASX listed companies over a long period, including, most recently, RP Data Limited.

Mr Catelan is to receive the following remuneration:

• annual salary of $300,000.00 plus superannuation;

• Mr Catelan is entitled to participate in incentive schemes established by the board. There is no such scheme in place at the moment.

The Managing Director’s remuneration will be reviewed in June of each year. The review will be against agreed targets set no later than the last month of each financial year to assess the Managing Director’s performance.

Payment on termination:

The Company may summarily terminate Mr Catelan’s employment in certain circumstances, including persistent breach of a material term of the agreement which is not rectified. Mr Catelan may terminate his employment by giving CMI 6 months written notice, and CMI may require Mr Catelan to work through all or only part of the notice period or CMI may make a payment in lieu of the notice period of the amount which would have been paid under the agreement for that period.

This announcement is made in accordance with the ASX Corporate Governance Council’s best practice recommendations.

Yours faithfully

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Mark Laidlaw

Company Secretary