EXCELSIOR CAPITAL LTD — Capital/Financing Update 2009

Oct 6, 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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07 October 2009

Australian Stock Exchange Limited Level 6, Riverside Centre 123 Eagle Street BRISBANE QLD 4000

Funding Approval - Class A Shares Selective Capital Reduction

The Board of CMI Limited (CMI) is pleased to advise that the company has secured a funding offer from its bankers for the proposed buyback, via selective capital reduction, of all of its Class A shares.

National Australia Bank Limited (NAB) has agreed to provide $18 million to CMI to be drawn down to fund the buyback of all Class A shares at 63 cents per share. However, as part of its funding commitment, NAB will require the company to complete an underwritten $4 million rights issue. The rights issue will launch after the buyback is finalised and must be completed by the end of February 2010.

RP Prospects Pty Ltd atf The M&L Trust, an entity associated with the Managing Director Ray Catelan, have agreed to underwrite the rights issue. The rights issue will be non-renounceable and shareholders will be entitled to subscribe for 0.29 ordinary shares for each ordinary share held, at the issue price of 42 cents per share. This represents a discount of 31% of the last trading price and a discount of 31% to the 30 day VWAP on trading in ordinary shares.

CMI proposes to offer a Shortfall Facility for those ordinary shareholders wishing to take up more than their pro-rata entitlement under the rights issue subject to obtaining certain regulatory and shareholder approvals,. Any shares issued under the shortfall facility will be allocated pro-rata based on shareholders’ holding.

It is expected that the meeting to approve the buyback will be held on 20 November 2009. CMI expects to dispatch meeting material to shareholders by 20 October 2009.

Yours sincerely

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Sharyn Williams Company Secretary CMI Limited