FINBAR GROUP LIMITED — Capital/Financing Update 2005

Feb 3, 2005

FINBAR INTERNATIONAL LIMITED ACN 009 113 473

Lavel 3 15 Labouchere Road SOUTH PERTH WA 6151

http:// www.finbar.com.au ASX CODE: FRI

4 February 2005

COMPANY ANNOUNCEMENT: FOR IMMEDIATE RELEASE

FINBAR ACQUIRES SENSES FOUNDATION SITE IN MAYLANDS LOTS 1 THROUGH 10. WHATLEY CRESCENT MAYLANDS

We are pleased to announce that a 100% owned subsidiary of Finbar has entered into a contract to purchase the above mentioned development site for \$5.2 million.

The site bordered by Whatley Crescent, Sixth Avenue, Central Avenue and Guilford Road is an entire suburban block comprising 1.5 hectares of land and suitable for the construction of approximately 130 walk-up apartments in stages.

The company has managed to negotiate a lengthy settlement period so that building approvals can be obtained prior to settlement of the land which will occur on or before December 2006.

Managing Director John Chan today said "This is a bread and butter project for the company with a simple construction method and high market acceptance for this type of product. We are confident that it will be a success and supplement our 2007/2008 profits by bringing an additional \$40 million in end sales into the company's books".

Regards

Darren Pateman Company Secretary

REFERENCE:

Mr John Chan, Managing Director - john@finbar.com.au Mr Darren Pateman, General Manager - darren@finbar.com.au