EXCELSIOR CAPITAL LTD — Capital/Financing Update 2009

Nov 4, 2009

CMI Limited ABN 98 050 542 553 150 Robinson Road Geebung Qld 4034 Australia Postal address: PO Box 716 Virginia Qld 4014 Australia Telephone: (07) 3865 9969 Facsimile: (07) 3865 3677 Email: corporate@cmilimited.com.au Web: www.cmilimited.com.au

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05 November 2009

Dear Class A Shareholder,

As you are aware, CMI has called meetings of its shareholders to be held on 20 November 2009 to approve the buyback of all of the Class A shares at 63 cents per share.

The price history of the Class A shares before and after the two buy-back announcements is (weighted average price for each period):

• One month prior, to the 4 September 2008 announcement of $1.00 46 cents

• After 4 September announcement until withdrawal on 24 October 2008 90 cents

• One month prior, to the 31 July 2009 announcement of 63 cents 30 cents

• After 31 July announcement up to 3 November 2009 53 cents

Under the buy-back proposal Class A shareholders will receive a much higher price for their shares than the closing market price before the buyback announcement, which was 32.5 cents. In the last 15 months, the only periods in which the Class A Shares have traded at above 50 cents are the two periods during which a proposed buyback had been announced. Otherwise, the market has valued the Class A Shares at or below 50 cents per share.

The proposed buyback represents an opportunity for Class A shareholders to obtain a price for their shares which has not been otherwise available in the market and at a time where the Company has been unable to pay dividends on the Class A shares for some time and it continues to be uncertain when dividend payments will resume.

Shareholders should carefully consider the risk that the Class A share price will again fall below the current level of 56.5 cents (as has happened previously) should the buy-back not proceed.

It is important that if you support the buyback you vote in favour of the proposed resolutions, either by proxy or in person at the meeting. As set out in the notice of meeting, there is a high approval threshold (75%) before the proposal can proceed. If you intend to accept the buy-back price of 63 cents per share, then you need to vote in favour by proxy or in person.

The Board strongly believes that this buy-back proposal is in the best interests of the company and all the shareholders. The detailed reasons are set out in the Information Memorandum sent to you on 20 October.

If you have not received the notice of meetings to be held on 20 November, or need help completing the proxy forms, please contact CMI’s company secretary, Sharyn Williams, on 07 3865 9969.

Yours faithfully

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Colin Ryan AM Chairman